Syndicated Bank Loan Market Summary – Week Ending 4/3/20
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Syndicated Bank Loan Market Summary: Week Ending 4/3/20
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 3/27/20 – 4/3/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,451 | REFINITV TL B | 2.91% | 95.26 | 92.57 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -23.15% | 49.55 | 64.48 | 19 |
| 3 | 4,750 | DELL TL B | 1.71% | 94.75 | 93.15 | 15 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL | 4.62% | 82.43 | 78.79 | 13 |
| 5 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.49% | 94.01 | 93.54 | 11 |
| 6 | 4,250 | BERRY PLASTICS TL Y | 5.24% | 94.80 | 90.08 | 13 |
| 7 | 4,197 | AKZONOBEL TL B | 3.00% | 87.90 | 85.34 | 12 |
| 8 | 3,861 | PETSMART CONSENTED TL B2 | 1.30% | 95.15 | 93.93 | 13 |
| 9 | 3,582 | MISYS TL B | 3.42% | 81.53 | 78.84 | 14 |
| 10 | 3,575 | STARS GROUP TL B | 5.99% | 94.45 | 89.11 | 11 |
| 11 | 3,415 | ENDO HEALTH TL B | -0.31% | 87.00 | 87.27 | 12 |
| 12 | 3,325 | CINEWORLD TL B | 5.29% | 64.77 | 61.51 | 18 |
| 13 | 3,300 | BMC SOFTWARE TL B | -0.39% | 81.37 | 81.68 | 16 |
| 14 | 3,300 | NTL CABLE PLC TL N | 4.74% | 93.00 | 88.79 | 13 |
| 15 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.57% | 77.70 | 78.14 | 13 |
| 16 | 3,210 | HUB INTL LTD TL B | 8.39% | 91.63 | 84.54 | 11 |
| 17 | 3,165 | MULTIPLAN TL B | 0.61% | 87.28 | 86.75 | 14 |
| 18 | 3,161 | JAGUAR HOLDING CO I TL | 1.85% | 95.29 | 93.56 | 14 |
| 19 | 3,110 | PROTECTION1 TL B | 4.99% | 90.19 | 85.91 | 11 |
| 20 | 2,918 | AVAYA TL B | 6.06% | 83.10 | 78.35 | 10 |
| AVERAGE | 3,878 | 1.81% | 86.06 | 84.32 | 13.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 3/27/20 – 4/3/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SECURUS TL | 23.35% | 75.26 | 61.01 |
| 2 | PANDA HUMMEL TL B1 | 21.13% | 77.67 | 64.12 |
| 3 | SPRINGS WINDOW TL | 18.48% | 85.42 | 72.10 |
| 4 | THE HUT GROUP GBP TL B | 16.08% | 91.20 | 78.57 |
| 5 | BLACKSTONE CQP TL B | 16.06% | 80.72 | 69.55 |
| 6 | BOYD GAMING TL B | 16.02% | 88.13 | 75.96 |
| 7 | UNIVAR TL B5 | 15.80% | 94.30 | 81.43 |
| 8 | IFCO TL | 15.67% | 92.53 | 80.00 |
| 9 | LINEAGE LOGISTICS TL B | 15.52% | 92.98 | 80.49 |
| 10 | GATES GLOBAL EUR TL B2 | 14.68% | 84.15 | 73.37 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 3/27/20 – 4/3/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PURESTAR TL | -43.89% | 40.35 | 71.92 |
| 2 | CALIFORNIA PIZZA 2ND LIEN TL | -43.85% | 20.25 | 36.07 |
| 3 | DELL SOFTWARE GROUP 2ND LIEN TL | -34.68% | 55.75 | 85.34 |
| 4 | JASON INC 2ND LIEN TL | -33.37% | 30.00 | 45.03 |
| 5 | SPEEDCAST TL B | -32.90% | 31.48 | 46.91 |
| 6 | FIELDWOOD ENERGY TL | -31.36% | 30.79 | 44.85 |
| 7 | CHUCK E CHEESE TL B | -31.01% | 49.02 | 71.05 |
| 8 | CIRQUE DE SOLEIL 2ND LIEN TL | -30.39% | 39.56 | 56.84 |
| 9 | ENVISION HEALTHCARE TL B | -23.15% | 49.55 | 64.48 |
| 10 | AMERICAN ENERGY MARCELLUS EXIT TL | -20.32% | 68.64 | 86.14 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/27/20 – 4/3/20 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 3/27/20 – 4/3/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/27/20 vs. the week ending 4/3/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ASPECT SOFTWARE TL | 6 | 24 | 18 | 300% |
| 2 | SAVAGE ENTERPRISES TL B | 12 | 30 | 18 | 150% |
| 3 | AVAST SOFTWARE TL | 34 | 48 | 14 | 41% |
| 4 | AMERICAN TOWER TL A | 0 | 14 | 14 | N/A |
| 5 | ANCHOR GLASS TL B | 10 | 24 | 14 | 140% |
| 6 | HERTZ TL | 40 | 54 | 14 | 35% |
| 7 | HOSTESS BRANDS TL | 24 | 37 | 13 | 54% |
| 8 | GNC EXT TL B | 6 | 18 | 12 | 200% |
| 9 | STEAK N SHAKE TL | 4 | 16 | 12 | 300% |
| 10 | TIPICO EUR TL B | 8 | 20 | 12 | 150% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/27/20 – 4/3/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMERICAN AIRLINES TL B | 21 |
| 2 | ENVISION HEALTHCARE TL B | 19 |
| 3 | TRANSDIGM INC. TL F | 19 |
| 4 | CINEWORLD TL B | 18 |
| 5 | VERISURE EUR TL B1 | 18 |
| 6 | PARTY CITY TL B | 18 |
| 7 | TECHEM EUR TL B | 18 |
| 8 | AMC ENTERTAINMENT TL B1 | 18 |
| 9 | ACTION NEDERLAND EUR TL B | 18 |
| 10 | GTT COMMUNICATIONS TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/27/20 – 4/3/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 3/27/20 – 4/3/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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