Syndicated Bank Loan Market Summary – Week Ending 5/14/21
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Syndicated Bank Loan Market Summary: Week Ending 5/14/21
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 5/7/21 – 5/14/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.34% | 85.74 | 85.44 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.05% | 99.85 | 99.90 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.20% | 98.90 | 98.70 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.22% | 100.40 | 100.62 | 10 |
| 5 | 4,750 | ZAYO TL | 0.18% | 98.95 | 98.77 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.07% | 98.94 | 98.87 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.25% | 99.16 | 99.41 | 12 |
| 8 | 4,475 | UNIVISION TL C5 | 0.20% | 99.84 | 99.64 | 13 |
| 9 | 4,197 | AKZONOBEL TL B | 0.04% | 98.74 | 98.71 | 10 |
| 10 | 3,582 | MISYS TL B | 0.18% | 98.39 | 98.21 | 16 |
| 11 | 3,575 | STARS GROUP TL B | 0.09% | 100.29 | 100.20 | 15 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.09% | 98.34 | 98.43 | 14 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.08% | 99.69 | 99.60 | 12 |
| 14 | 3,338 | ASURION TL B6 | 0.01% | 99.69 | 99.68 | 10 |
| 15 | 3,325 | CINEWORLD TL B | -0.93% | 84.57 | 85.36 | 13 |
| 16 | 3,312 | HUB INTL LTD TL B | 0.09% | 98.67 | 98.58 | 16 |
| 17 | 3,300 | NTL CABLE PLC TL N | 0.16% | 99.14 | 98.98 | 12 |
| 18 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.29% | 98.74 | 98.46 | 11 |
| 19 | 3,165 | MULTIPLAN TL B | 0.09% | 99.59 | 99.49 | 13 |
| 20 | 3,100 | COLORADO BUYER 2ND LIEN TL | -0.25% | 98.56 | 98.81 | 12 |
| AVERAGE | 4,012 | 0.01% | 97.81 | 97.79 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/7/21 – 5/14/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PEABODY ENERGY TL B | 17.41% | 40.20 | 34.24 |
| 2 | HOTELBEDS EUR TL D | 5.66% | 92.00 | 87.07 |
| 3 | FIELDWOOD ENERGY TL | 3.05% | 40.51 | 39.31 |
| 4 | LIGHTSTONE GENERATION LLC TL B | 2.75% | 80.25 | 78.10 |
| 5 | FOGO DE CHAO TL | 2.37% | 96.53 | 94.29 |
| 6 | BELK EXIT SO TL | 2.12% | 65.90 | 64.53 |
| 7 | STRATEGIC MATERIALS TL | 2.12% | 88.23 | 86.40 |
| 8 | HOTELBEDS EUR TL B | 1.97% | 90.29 | 88.55 |
| 9 | WP CPP 2ND LIEN TL | 1.72% | 91.97 | 90.42 |
| 10 | HURTIGRUTEN GROUP EUR TL B | 1.60% | 92.72 | 91.26 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/7/21 – 5/14/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PHILADELPHIA ENERGY EXIT TL A2 | -10.28% | 47.26 | 52.68 |
| 2 | UNITED ROAD SERVICES TL | -2.72% | 82.48 | 84.79 |
| 3 | WATERBRIDGE OPERATING TL B | -2.36% | 94.19 | 96.47 |
| 4 | ARRAY TECHNOLOGIES TL B | -1.95% | 97.70 | 99.64 |
| 5 | SPECTRUM PLASTICS TL | -1.16% | 94.50 | 95.61 |
| 6 | TRAVEL LEADERS TL | -0.99% | 93.56 | 94.50 |
| 7 | CINEWORLD TL B | -0.96% | 83.93 | 84.74 |
| 8 | AUDIO VISUAL TL B1 | -0.94% | 88.86 | 89.70 |
| 9 | SERVICE KING TL B | -0.80% | 100.16 | 100.97 |
| 10 | ILIAD SA EUR TL B | -0.65% | 98.94 | 99.59 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/7/21 – 5/14/21 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 5/7/21 – 5/14/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/7/21 vs. the week ending 5/14/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SURGEY CENTER TL | 20 | 64 | 44 | 220% |
| 2 | TELENET EUR TL | 46 | 76 | 30 | 65% |
| 3 | BANIJAY GROUP EUR TL B | 32 | 62 | 30 | 94% |
| 4 | AMERICAN TIRE EXIT PIK FLLO | 18 | 44 | 26 | 144% |
| 5 | GHD GESUNDHEITS EUR TL B | 6 | 32 | 26 | 433% |
| 6 | GRIFOLS WORLDWIDE EUR TL B | 30 | 56 | 26 | 87% |
| 7 | RECIPHARM EUR TL | 44 | 70 | 26 | 59% |
| 8 | UNIFRAX EUR TL B | 0 | 26 | 26 | NA |
| 9 | AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B | 50 | 74 | 24 | 48% |
| 10 | AHEAD TL B | 38 | 60 | 22 | 58% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/7/21 – 5/14/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TECHEM EUR TL B4 | 19 |
| 2 | TELENET EUR TL | 19 |
| 3 | BIOGROUP DD EUR TL B | 19 |
| 4 | ELSAN GROUPE EUR TL B | 18 |
| 5 | HUB INTL LTD TL B2 | 18 |
| 6 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 7 | ZIGGO EUR TL H | 18 |
| 8 | BANIJAY GROUP EUR TL B | 18 |
| 9 | NTL CABLE PLC EUR TL R | 17 |
| 10 | VERISURE EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/7/21 – 5/14/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/7/21 – 5/14/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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