Syndicated Bank Loan Market Summary – Week Ending 4/2/21
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Syndicated Bank Loan Market Summary: Week Ending 4/1/21
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 3/26/21 – 4/1/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.13% | 85.97 | 86.08 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.05% | 99.87 | 99.82 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.02% | 98.81 | 98.79 | 11 |
| 4 | 4,750 | ZAYO TL | 0.02% | 99.11 | 99.09 | 17 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.26% | 98.55 | 98.29 | 15 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.07% | 99.67 | 99.59 | 13 |
| 7 | 4,475 | UNIVISION TL C5 | 0.29% | 99.31 | 99.02 | 12 |
| 8 | 4,197 | AKZONOBEL TL B | -0.15% | 98.46 | 98.61 | 10 |
| 9 | 3,582 | MISYS TL B | 0.04% | 97.83 | 97.79 | 15 |
| 10 | 3,575 | STARS GROUP TL B | -0.02% | 100.07 | 100.08 | 16 |
| 11 | 3,524 | TRANSDIGM INC. TL F | N/A | 97.85 | 97.84 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.07% | 99.66 | 99.72 | 13 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | 0.25% | 102.41 | 102.16 | 11 |
| 14 | 3,338 | ASURION TL B6 | N/A | 99.73 | 99.73 | 10 |
| 15 | 3,325 | CINEWORLD TL B | -0.18% | 85.05 | 85.20 | 16 |
| 16 | 3,312 | HUB INTL LTD TL B | 0.01% | 98.53 | 98.52 | 18 |
| 17 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -1.58% | 70.09 | 71.22 | 11 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.11% | 99.11 | 99.00 | 12 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | N/A | 97.97 | 97.97 | 14 |
| 20 | 3,165 | MULTIPLAN TL B | 0.02% | 99.44 | 99.42 | 12 |
| AVERAGE | 3,947 | -0.05% | 96.37 | 96.40 | 13.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 3/26/21 – 4/1/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CRESTWOOD MIDSTREAM TL B | 10.78% | 98.96 | 89.34 |
| 2 | OUTPUT SERVICES GROUP TL | 6.21% | 82.83 | 77.98 |
| 3 | LUMILEDS TL B | 5.32% | 75.89 | 72.06 |
| 4 | COMDATA SPA EUR TL B | 4.69% | 55.66 | 53.16 |
| 5 | PURESTAR TL | 3.56% | 77.14 | 74.48 |
| 6 | GTT COMMUNICATIONS TL B | 3.43% | 83.75 | 80.97 |
| 7 | GATE GOURMET EUR TL B | 2.80% | 83.26 | 81.00 |
| 8 | FLAMINGO/AFRIFLORA EUR TL | 2.40% | 97.93 | 95.63 |
| 9 | SERTA SIMMONS 2ND LIEN TL | 2.06% | 50.22 | 49.21 |
| 10 | MRO HOLDING TL B | 2.03% | 95.69 | 93.79 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 3/26/21 – 4/1/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | LIGADO NETWORKS TL B | -7.79% | 84.54 | 91.69 |
| 2 | PEABODY ENERGY TL B | -7.62% | 33.41 | 36.17 |
| 3 | SAMARCO MINERACAO TL | -6.62% | 70.97 | 76.00 |
| 4 | HOTELBEDS EUR TL D | -2.46% | 86.08 | 88.25 |
| 5 | EPIC CRUDE TL B | -2.01% | 72.16 | 73.63 |
| 6 | HOTELBEDS EUR TL B | -1.90% | 86.52 | 88.20 |
| 7 | AT&T COLOCATION TL | -1.80% | 90.77 | 92.43 |
| 8 | SINCLAIR BROADCAST GROUP INC. TL B | -1.58% | 70.09 | 71.22 |
| 9 | AREAS DD EUR TL | -1.50% | 81.64 | 82.88 |
| 10 | RODAN & FIELDS TL B | -1.42% | 83.35 | 84.55 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/26/21 – 4/1/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 3/26/21 – 4/1/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/26/21 vs. the week ending 4/1/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | EVERI PAYMENTS INC TL B | 0 | 60 | 60 | N/A |
| 2 | GO DADDY TL B4 | 33 | 60 | 27 | 82% |
| 3 | SKYSCRAPER PERFORMANCE EUR TL B | 0 | 26 | 26 | N/A |
| 4 | MASMOVIL IBERCOM SA EUR TL B2 | 0 | 24 | 24 | N/A |
| 5 | BRIGHTSPRING EXT TL B | 4 | 28 | 24 | 600% |
| 6 | AMERICAN AXLE & MANUFACTURING TL A | 10 | 30 | 20 | 200% |
| 7 | ARDENT HEALTH PARTNERS TL B | 12 | 32 | 20 | 167% |
| 8 | PRESS GANEY EXT TL | 14 | 32 | 18 | 129% |
| 9 | SEDGWICK EXT TL B2 | 0 | 16 | 16 | N/A |
| 10 | CORNERSTONE TL B | 2 | 18 | 16 | 800% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/26/21 – 4/1/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | SIGMA BIDCO EUR TL B1 | 19 |
| 2 | TELENET EUR TL | 19 |
| 3 | BIOGROUP DD EUR TL B | 19 |
| 4 | GTT COMMUNICATIONS TL B | 19 |
| 5 | BANIJAY GROUP EUR TL B | 18 |
| 6 | LUMILEDS TL B | 18 |
| 7 | ELSAN GROUPE EUR TL B | 18 |
| 8 | SYNLAB EUR TL B5 | 18 |
| 9 | HUB INTL LTD TL B | 18 |
| 10 | CEVA SANTE ANIMALE EUR TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/26/21 – 4/1/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 3/26/21 – 4/1/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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