Syndicated Bank Loan Market Summary – Week Ending 4/9/20
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Syndicated Bank Loan Market Summary: Week Ending 4/9/20
Our weekly 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 4/3/20 – 4/9/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 12.48% | 55.74 | 49.55 | 15 |
| 2 | 4,750 | DELL TL B | 3.17% | 97.75 | 94.75 | 12 |
| 3 | 4,700 | CAESARS RESORT COLLECTION TL | 4.43% | 86.08 | 82.43 | 12 |
| 4 | 4,250 | BERRY PLASTICS TL Y | 1.90% | 96.61 | 94.80 | 12 |
| 5 | 3,861 | PETSMART CONSENTED TL B2 | 2.16% | 97.20 | 95.15 | 12 |
| 6 | 3,582 | MISYS TL B | 7.86% | 87.94 | 81.53 | 12 |
| 7 | 3,575 | STARS GROUP TL B | 2.29% | 96.61 | 94.45 | 10 |
| 8 | 3,415 | ENDO HEALTH TL B | 5.64% | 91.91 | 87.00 | 10 |
| 9 | 3,325 | CINEWORLD TL B | 2.49% | 66.38 | 64.77 | 16 |
| 10 | 3,300 | BMC SOFTWARE TL B | 5.73% | 86.03 | 81.37 | 15 |
| 11 | 3,300 | NTL CABLE PLC TL N | 2.48% | 95.31 | 93.00 | 12 |
| 12 | 3,300 | DIAMOND SPORTS TL B | -2.04% | 72.42 | 73.94 | 10 |
| 13 | 3,275 | SCIENTIFIC GAMES TL B5 | 7.22% | 83.30 | 77.70 | 13 |
| 14 | 3,210 | HUB INTL LTD TL B | 2.15% | 93.60 | 91.63 | 10 |
| 15 | 3,165 | MULTIPLAN TL B | 5.44% | 92.02 | 87.28 | 12 |
| 16 | 3,161 | JAGUAR HOLDING CO I TL | 2.51% | 97.68 | 95.29 | 12 |
| 17 | 2,918 | AVAYA TL B | 10.16% | 91.54 | 83.10 | 10 |
| 18 | 2,902 | FORMULA ONE TL B | 5.00% | 92.30 | 87.91 | 12 |
| 19 | 2,851 | INTEL TL | 5.09% | 96.94 | 92.25 | 11 |
| 20 | 2,825 | BRAND ENERGY TL | 3.93% | 82.78 | 79.65 | 10 |
| AVERAGE | 3,556 | 4.50% | 88.01 | 84.38 | 11.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/3/20 – 4/9/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SWISSPORT TL B | 29.70% | 64.87 | 50.01 |
| 2 | BUCCANEER 2ND LIEN TL | 19.36% | 37.47 | 31.39 |
| 3 | FLINT GROUP TL C | 19.25% | 74.84 | 62.76 |
| 4 | NEUSTAR 2ND LIEN TL B | 17.73% | 56.77 | 48.22 |
| 5 | ORYX SOUTHERN TL B | 16.40% | 65.35 | 56.14 |
| 6 | DELEK TL B | 16.28% | 84.64 | 72.79 |
| 7 | VYAIRE MEDICAL TL B | 14.20% | 79.94 | 70.00 |
| 8 | SIVANTOS TL B | 13.18% | 85.27 | 75.34 |
| 9 | DOUGLAS HOLDING EUR TL B1 | 13.00% | 60.15 | 53.23 |
| 10 | GVC HOLDINGS TL B | 12.93% | 96.36 | 85.33 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/3/20 – 4/9/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | TOWN SPORTS TL B | -49.31% | 21.80 | 43.00 |
| 2 | IMAGINA MEDIA AUDIOVISUAL SL 2ND LIEN EUR TL | -24.85% | 46.90 | 62.41 |
| 3 | LEARNING CARE TL B | -20.74% | 62.01 | 78.24 |
| 4 | PROGREXION TL | -16.13% | 37.97 | 45.26 |
| 5 | UNIFRAX TL B | -13.80% | 67.45 | 78.25 |
| 6 | KETTLE CUISINE TL | -11.22% | 70.94 | 79.90 |
| 7 | BLUESTEM EXT TL B | -10.57% | 50.92 | 56.94 |
| 8 | PEAK 10 2ND LIEN TL | -9.72% | 36.00 | 39.87 |
| 9 | COLORADO BUYER 2ND LIEN TL | -9.47% | 30.35 | 33.52 |
| 10 | LEARFIELD TL | -9.19% | 63.33 | 69.74 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/3/20 – 4/9/20 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 4/3/20 – 4/9/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/3/20 vs. the week ending 4/9/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | EPIQ SYSTEMS TL B | 22 | 46 | 24 | 109% |
| 2 | WTG HOLDINGS TL | 0 | 18 | 18 | N/A |
| 3 | QUORUM HEALTH TL | 0 | 16 | 16 | N/A |
| 4 | CAMPING WORLD TL B | 41 | 55 | 14 | 34% |
| 5 | LIFEPOINT HOSPITALS TL B | 20 | 33 | 13 | 65% |
| 6 | USI HOLDINGS TL B | 12 | 25 | 13 | 108% |
| 7 | WENDY’S INTERNATIONAL, LLC TL B | 19 | 31 | 12 | 63% |
| 8 | TOTAL SAFETY TL | 12 | 24 | 12 | 100% |
| 9 | BURGER KING TL B | 26 | 38 | 12 | 46% |
| 10 | DYNCORP TL B | 2 | 13 | 11 | 550% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/3/20 – 4/9/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ENVISION HEALTHCARE TL B | 18 |
| 2 | TRANSDIGM INC. TL F | 18 |
| 3 | CINEWORLD TL B | 17 |
| 4 | VERISURE EUR TL B1 | 17 |
| 5 | EIRCOM FINCO SARL EUR TL B | 17 |
| 6 | AMERICAN AIRLINES TL B | 17 |
| 7 | HILTON TL B | 17 |
| 8 | PARTY CITY TL B | 16 |
| 9 | BMC SOFTWARE TL B | 16 |
| 10 | GTT COMMUNICATIONS TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/3/20 – 4/9/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/3/20 – 4/9/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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