Syndicated Bank Loan Market Summary – Week Ending 4/23/21
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Syndicated Bank Loan Market Summary: Week Ending 4/23/21
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 4/16/21 – 4/23/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -1.39% | 83.66 | 84.85 | 17 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.03% | 99.85 | 99.88 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.32% | 98.73 | 99.04 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.87% | 101.35 | 102.24 | 11 |
| 5 | 4,750 | ZAYO TL | -0.24% | 98.88 | 99.12 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.10% | 98.78 | 98.88 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.05% | 99.70 | 99.75 | 13 |
| 8 | 4,475 | UNIVISION TL C5 | -0.10% | 99.66 | 99.76 | 11 |
| 9 | 4,197 | AKZONOBEL TL B | 0.08% | 98.53 | 98.45 | 11 |
| 10 | 3,582 | MISYS TL B | -0.12% | 98.16 | 98.28 | 15 |
| 11 | 3,575 | STARS GROUP TL B | -0.11% | 100.18 | 100.29 | 17 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.07% | 98.61 | 98.68 | 15 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.18% | 99.57 | 99.75 | 13 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.89% | 102.69 | 103.61 | 10 |
| 15 | 3,338 | ASURION TL B6 | -0.08% | 99.70 | 99.78 | 11 |
| 16 | 3,325 | CINEWORLD TL B | -0.24% | 86.00 | 86.20 | 15 |
| 17 | 3,312 | HUB INTL LTD TL B | -0.16% | 98.58 | 98.74 | 20 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | 1.26% | 66.91 | 66.08 | 10 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.10% | 99.13 | 99.23 | 12 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.07% | 98.33 | 98.40 | 13 |
| AVERAGE | 4,039 | -0.19% | 96.35 | 96.55 | 13.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/16/21 – 4/23/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | HARVEY GULF EXIT TL | 10.93% | 65.23 | 58.80 |
| 2 | ENCINO ACQUISITION PARTNERS 2ND LIEN TL | 3.87% | 98.92 | 95.24 |
| 3 | PGS TL B | 3.29% | 88.57 | 85.74 |
| 4 | EIF VAN HOOK HOLDINGS TL B | 2.56% | 80.22 | 78.22 |
| 5 | WELBILT TL B | 2.35% | 98.91 | 96.64 |
| 6 | CARESTREAM HEALTH 2ND LIEN TL | 2.15% | 92.37 | 90.43 |
| 7 | WORLDSTRIDES EXIT 3RD LIEN TL | 1.96% | 79.98 | 78.44 |
| 8 | CONFIE SEGUROS 2ND LIEN TL | 1.82% | 98.37 | 96.61 |
| 9 | THE NORDAM GROUP TL B | 1.59% | 93.50 | 92.03 |
| 10 | REVLON 2ND LIEN TL B2 | 1.44% | 75.53 | 74.45 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/16/21 – 4/23/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MCDERMOTT EXIT TL | -9.07% | 50.45 | 55.49 |
| 2 | GOPHER RESOURCE TL | -4.84% | 83.99 | 88.26 |
| 3 | UNITED ROAD SERVICES TL | -2.20% | 88.77 | 90.76 |
| 4 | LIGHTSTONE GENERATION LLC TL B | -2.01% | 77.40 | 78.98 |
| 5 | ENDO HEALTH TL B | -1.73% | 96.80 | 98.50 |
| 6 | ENVISION HEALTHCARE TL B | -1.39% | 83.66 | 84.85 |
| 7 | LANDESK TL B | -1.30% | 98.80 | 100.10 |
| 8 | SECURUS TL | -1.21% | 92.71 | 93.85 |
| 9 | EDGEWATER GENERATION TL B | -1.00% | 97.57 | 98.56 |
| 10 | EPIC Y-GRADE SERVICES EXT TL B | -0.96% | 83.60 | 84.42 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/16/21 – 4/23/21 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 4/16/21 – 4/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/16/21 vs. the week ending 4/23/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | RADNET TL B | 2 | 52 | 50 | 2500% |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B3 | 30 | 58 | 28 | 93% |
| 3 | BELRON INTERNATIONAL EUR TL B | 14 | 40 | 26 | 186% |
| 4 | OBERTHUR TECHNOLOGIES SA TL | 0 | 22 | 22 | NA |
| 5 | PERFORCE TL | 32 | 52 | 20 | 63% |
| 6 | TECTA AMERICA TL | 16 | 36 | 20 | 125% |
| 7 | CORRECTIONS CORP OF AMERICA TL | 0 | 20 | 20 | NA |
| 8 | EXCLUSIVE GROUP EUR TL B | 6 | 26 | 20 | 333% |
| 9 | INDEPENDENT VETCARE EUR TL B2 | 32 | 52 | 20 | 63% |
| 10 | KNOWLTON PACKAGING INC EUR TL | 4 | 24 | 20 | 500% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/16/21 – 4/23/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HUB INTL LTD TL B | 20 |
| 2 | LUMILEDS TL B | 19 |
| 3 | TELENET EUR TL | 19 |
| 4 | GTT COMMUNICATIONS TL B | 19 |
| 5 | ENVISION HEALTHCARE TL B | 18 |
| 6 | BIOGROUP DD EUR TL B | 18 |
| 7 | VERISURE EUR TL B | 17 |
| 8 | RACKSPACE HOSTING TL B | 17 |
| 9 | ELSAN GROUPE EUR TL B | 17 |
| 10 | SYNLAB EUR TL B5 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/16/21 – 4/23/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/16/21 – 4/23/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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