Syndicated Bank Loan Market Summary – Week Ending 5/1/20
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Syndicated Bank Loan Market Summary: Week Ending 5/1/20
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 4/24/20 – 5/1/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | 0.60% | 94.80 | 94.23 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 8.06% | 67.58 | 62.54 | 16 |
| 3 | 5,000 | QWEST CORPORATION TL B | -1.42% | 93.97 | 95.33 | 10 |
| 4 | 4,750 | ZAYO TL | -0.81% | 93.47 | 94.24 | 13 |
| 5 | 4,750 | DELL TL B | -0.34% | 97.13 | 97.46 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL | -0.44% | 84.09 | 84.46 | 11 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.11% | 96.14 | 96.26 | 12 |
| 8 | 4,250 | BERRY PLASTICS TL Y | -1.14% | 95.61 | 96.71 | 12 |
| 9 | 3,861 | PETSMART CONSENTED TL B2 | 0.11% | 96.48 | 96.38 | 10 |
| 10 | 3,575 | STARS GROUP TL B | 0.27% | 97.42 | 97.16 | 10 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -3.14% | 86.37 | 89.17 | 15 |
| 12 | 3,325 | CINEWORLD TL B | -4.76% | 62.39 | 65.51 | 15 |
| 13 | 3,300 | BMC SOFTWARE TL B | 0.35% | 85.10 | 84.81 | 15 |
| 14 | 3,300 | NTL CABLE PLC TL N | -0.14% | 93.90 | 94.03 | 11 |
| 15 | 3,275 | SCIENTIFIC GAMES TL B5 | -2.56% | 81.86 | 84.01 | 10 |
| 16 | 3,210 | HUB INTL LTD TL B | -0.09% | 93.87 | 93.96 | 10 |
| 17 | 3,165 | MULTIPLAN TL B | -2.01% | 90.86 | 92.72 | 10 |
| 18 | 3,161 | JAGUAR HOLDING CO I TL | -0.19% | 97.86 | 98.04 | 12 |
| 19 | 2,918 | AVAYA TL B | -0.55% | 87.18 | 87.67 | 10 |
| 20 | 2,902 | FORMULA ONE TL B | -1.53% | 90.54 | 91.95 | 12 |
| AVERAGE | 4,182 | -0.49% | 89.33 | 89.83 | 11.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/24/20 – 5/1/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | COLORADO BUYER 2ND LIEN TL | 26.07% | 25.40 | 20.15 |
| 2 | PRONOVIAS EUR TL B2 | 24.98% | 33.04 | 26.43 |
| 3 | MCS TL B | 23.93% | 47.71 | 38.49 |
| 4 | IMAGINA MEDIA AUDIOVISUAL SL EUR TL A | 20.21% | 73.94 | 61.51 |
| 5 | TRAVERSE MIDSTREAM TL B | 16.73% | 74.97 | 64.22 |
| 6 | PATTERSON MEDICAL TL | 14.01% | 85.43 | 74.94 |
| 7 | RODENSTOCK EUR TL B | 13.87% | 86.27 | 75.76 |
| 8 | WHEEL PROS 2ND LIEN TL | 13.86% | 69.43 | 60.98 |
| 9 | STETSON MIDSTREAM TL B | 12.73% | 42.33 | 37.55 |
| 10 | LIQUIBOX TL B | 12.71% | 79.72 | 70.74 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/24/20 – 5/1/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CALIFORNIA PIZZA TL | -29.72% | 32.18 | 45.79 |
| 2 | JC PENNEY TL B | -16.64% | 47.29 | 56.73 |
| 3 | TRAVELPORT 2ND LIEN TL | -16.29% | 29.13 | 34.80 |
| 4 | AVIS BUDGET TL B | -12.43% | 67.88 | 77.51 |
| 5 | HUBBARD RADIO TL B | -12.40% | 75.00 | 85.61 |
| 6 | UTEX TL B | -10.08% | 28.88 | 32.12 |
| 7 | STRIKE TL B | -10.02% | 83.89 | 93.24 |
| 8 | WYNDHAM DESTINATIONS, INC. TL B | -9.38% | 84.54 | 93.29 |
| 9 | CIRQUE DE SOLEIL TL B | -8.28% | 44.35 | 48.35 |
| 10 | PGS TL B | -7.26% | 52.74 | 56.87 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/24/20 – 5/1/20 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 4/24/20 – 5/1/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/24/20 vs. the week ending 5/1/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | AMWINS TL B | 32 | 50 | 18 | 56% |
| 2 | GENERAL ELECTRIC DISTRIBUTED POWER EUR TL B | 4 | 20 | 16 | 400% |
| 3 | RCN GRANDE DD TL | 4 | 20 | 16 | 400% |
| 4 | SOLERA EUR TL B | 0 | 16 | 16 | N/A |
| 5 | GENESYS TELECOM TL B | 30 | 45 | 15 | 50% |
| 6 | GARDNER DENVER EUR TL B | 0 | 14 | 14 | N/A |
| 7 | AIR METHODS TL | 14 | 28 | 14 | 100% |
| 8 | CENTRAL SECURITY GROUP TL | 2 | 16 | 14 | 700% |
| 9 | STRATEGIC MATERIALS TL | 14 | 28 | 14 | 100% |
| 10 | TKC HOLDINGS 2ND LIEN TL | 0 | 14 | 14 | N/A |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/24/20 – 5/1/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | VERISURE EUR TL B1 | 19 |
| 2 | ENVISION HEALTHCARE TL B | 16 |
| 3 | TECHEM EUR TL B | 15 |
| 4 | CINEWORLD TL B | 15 |
| 5 | BMC SOFTWARE TL B | 15 |
| 6 | HILTON TL B | 15 |
| 7 | EIRCOM FINCO SARL EUR TL B | 15 |
| 8 | AMERICAN AIRLINES TL B | 15 |
| 9 | GTT COMMUNICATIONS TL B | 15 |
| 10 | TRANSDIGM INC. TL F | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/24/20 – 5/1/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/24/20 – 5/1/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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