Syndicated Bank Loan Market Summary – Week Ending 4/30/21
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Syndicated Bank Loan Market Summary: Week Ending 4/30/21
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 4/23/21 – 4/30/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.13% | 83.78 | 83.66 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.02% | 99.88 | 99.85 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.01% | 98.72 | 98.73 | 11 |
| 4 | 4,750 | ZAYO TL | 0.07% | 98.95 | 98.88 | 15 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.09% | 98.87 | 98.78 | 14 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.13% | 99.83 | 99.70 | 13 |
| 7 | 4,475 | UNIVISION TL C5 | 0.06% | 99.71 | 99.66 | 11 |
| 8 | 4,197 | AKZONOBEL TL B | 0.20% | 98.73 | 98.53 | 10 |
| 9 | 3,582 | MISYS TL B | 0.06% | 98.22 | 98.16 | 15 |
| 10 | 3,575 | STARS GROUP TL B | 0.12% | 100.30 | 100.18 | 16 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.10% | 98.71 | 98.61 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.03% | 99.60 | 99.57 | 13 |
| 13 | 3,338 | ASURION TL B6 | N/A | 99.70 | 99.70 | 11 |
| 14 | 3,325 | CINEWORLD TL B | -0.36% | 85.69 | 86.00 | 14 |
| 15 | 3,312 | HUB INTL LTD TL B | 0.05% | 98.64 | 98.58 | 18 |
| 16 | 3,300 | NTL CABLE PLC TL N | 0.03% | 99.16 | 99.13 | 12 |
| 17 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.17% | 98.49 | 98.33 | 12 |
| 18 | 3,165 | MULTIPLAN TL B | 0.04% | 99.46 | 99.42 | 13 |
| 19 | 3,100 | COLORADO BUYER 2ND LIEN TL | 0.19% | 98.61 | 98.42 | 13 |
| 20 | 3,100 | ASURION TL B8 | 0.08% | 99.29 | 99.21 | 11 |
| AVERAGE | 3,917 | 0.06% | 97.72 | 97.66 | 13.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/23/21 – 4/30/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | INDRA HOLDINGS TL B | 21.55% | 75.00 | 61.70 |
| 2 | ARRAY CANADA TL B | 11.60% | 62.24 | 55.77 |
| 3 | SERTA SIMMONS TL | 7.68% | 76.80 | 71.33 |
| 4 | SINCLAIR BROADCAST GROUP INC. TL B | 5.75% | 70.76 | 66.91 |
| 5 | ACCUVANT 2ND LIEN TL | 3.71% | 93.95 | 90.59 |
| 6 | TRAVELPORT TL B | 2.37% | 86.02 | 84.03 |
| 7 | MITEL NETWORKS 2ND LIEN TL | 2.33% | 49.15 | 48.03 |
| 8 | HARLAND CLARKE TL B7 | 2.19% | 92.04 | 90.07 |
| 9 | WENCOR GROUP 2ND LIEN TL | 2.17% | 83.68 | 81.90 |
| 10 | ENCINO ACQUISITION PARTNERS 2ND LIEN TL | 1.96% | 100.86 | 98.92 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/23/21 – 4/30/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MCDERMOTT EXIT TL | -7.15% | 46.84 | 50.45 |
| 2 | LIMETREE BAY TL B | -5.01% | 90.52 | 95.29 |
| 3 | AT&T COLOCATION TL | -2.52% | 88.23 | 90.51 |
| 4 | RODAN & FIELDS TL B | -2.47% | 80.09 | 82.12 |
| 5 | SECURUS TL | -2.11% | 92.83 | 94.83 |
| 6 | EASTERN POWER TL B | -1.35% | 92.17 | 93.44 |
| 7 | RIVERBED PIK 2ND LIEN TL | -1.12% | 78.57 | 79.46 |
| 8 | LGC TL B | -0.98% | 98.32 | 99.29 |
| 9 | VARSITY BRANDS TL | -0.85% | 95.91 | 96.73 |
| 10 | YAK MAT TL B | -0.77% | 90.40 | 91.10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/23/21 – 4/30/21 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 4/23/21 – 4/30/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/23/21 vs. the week ending 4/30/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PACIFIC DENTAL SERVICES TL B | 5 | 38 | 33 | 660% |
| 2 | CONVERGEONE TL B | 37 | 60 | 23 | 62% |
| 3 | MEDPLAST TL | 38 | 60 | 22 | 58% |
| 4 | SOUTHERN GRAPHICS TL B | 2 | 24 | 22 | 1100% |
| 5 | INTERNET BRANDS TL | 38 | 58 | 20 | 53% |
| 6 | CLOUDERA TL B | 4 | 24 | 20 | 500% |
| 7 | CORNERSTONE TL B | 34 | 52 | 18 | 53% |
| 8 | INFORMATICA TL B | 74 | 92 | 18 | 24% |
| 9 | GRIFOLS WORLDWIDE EUR TL B | 20 | 38 | 18 | 90% |
| 10 | THOUGHTWORKS TL | 20 | 38 | 18 | 90% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/23/21 – 4/30/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TELENET EUR TL | 19 |
| 2 | HUB INTL LTD TL B | 18 |
| 3 | BIOGROUP DD EUR TL B | 18 |
| 4 | GEO GROUP TL B | 18 |
| 5 | VERISURE EUR TL B | 17 |
| 6 | RACKSPACE HOSTING TL B | 17 |
| 7 | ELSAN GROUPE EUR TL B | 17 |
| 8 | SYNLAB EUR TL B5 | 17 |
| 9 | LUMILEDS TL B | 17 |
| 10 | SIGMA BIDCO EUR TL B1 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/23/21 – 4/30/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/23/21 – 4/30/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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