Syndicated Bank Loan Market Summary – Week Ending 5/20/22
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Syndicated Bank Loan Market Summary: Week Ending 5/20/22
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
New Issues
Loans issued during the week ending 5/20/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Twin River Worldwide Hldgs. Inc. | N/A | Term Loan | 10/2/2028 | L+325 |
| Peloton Interactive Inc. | 750 | Term Loan | 5/17/2027 | S+650 |
| Barracuda Networks Inc. | 455 | Term Loan | 4/28/2030 | S+700 |
Forward Calendar
List of upcoming syndicated loan being marketed in the United States as of 5/20/22
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
|---|---|---|---|
| Mallinckrodt PLC | $900MM TLB (B3/B) | MS, MUFG, BCLY, DB | Q2 2022 |
| Opry Entertainment Group | $300MM TLB (B2/B) | JPM,MS | Q2 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/13/22 – 5/20/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -1.21% | 94.52 | 95.68 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -12.04% | 40.27 | 45.78 | 17 |
| 3 | 5,160 | INTEL TL | -1.03% | 92.30 | 93.27 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.08% | 96.11 | 96.18 | 10 |
| 5 | 4,750 | ZAYO TL | -0.62% | 90.03 | 90.60 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.31% | 97.01 | 97.32 | 14 |
| 7 | 4,463 | ULTIMATE SOFTWARE TL B | -0.64% | 95.79 | 96.41 | 11 |
| 8 | 4,197 | AKZONOBEL TL B | -0.18% | 95.43 | 95.60 | 10 |
| 9 | 3,900 | DIRECTV TL | -0.65% | 94.32 | 94.93 | 12 |
| 10 | 3,582 | MISYS TL B | -1.05% | 92.15 | 93.13 | 12 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.99% | 96.48 | 95.53 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.47% | 95.72 | 96.16 | 12 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | -0.93% | 98.00 | 98.91 | 10 |
| 14 | 3,500 | PILOT TRAVEL TL B | -0.55% | 95.94 | 96.47 | 10 |
| 15 | 3,450 | GOLDEN NUGGET INC TL B | 0.42% | 95.54 | 95.14 | 12 |
| 16 | 3,380 | SOLERA TL B | -0.61% | 94.94 | 95.52 | 13 |
| 17 | 3,325 | CINEWORLD TL B | -1.73% | 69.65 | 70.87 | 14 |
| 18 | 3,312 | HUB INTL LTD TL B | -0.12% | 95.35 | 95.46 | 14 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.56% | 96.54 | 96.01 | 11 |
| 20 | 3,100 | JAZZ PHARMA TL B | -0.92% | 96.92 | 97.83 | 11 |
| AVERAGE | 4,119 | -1.06% | 91.15 | 91.84 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/13/22 – 5/20/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | HARLAND CLARKE TL B | 14.58% | 80.75 | 70.47 |
| 2 | NATIONAL CINEMEDIA TL B | 2.82% | 84.21 | 81.89 |
| 3 | CALIBER COLLISION TL | 2.09% | 93.75 | 91.83 |
| 4 | MONOTYPE IMAGING TL B | 1.78% | 97.59 | 95.88 |
| 5 | WIDEOPENWEST TL B | 1.53% | 98.09 | 96.61 |
| 6 | EIG INVESTORS TL B | 1.40% | 92.18 | 90.91 |
| 7 | TECTUM HOLDINGS INC TL B | 1.03% | 90.74 | 89.82 |
| 8 | KIK CUSTOM TL B | 0.99% | 92.12 | 91.22 |
| 9 | TRANSDIGM INC. TL F | 0.99% | 96.48 | 95.53 |
| 10 | SEMINOLE TRIBE OF FLORIDA TL B | 0.97% | 99.69 | 98.73 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/13/22 – 5/20/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | ATLAS GROUP TL | -13.15% | 79.92 | 92.02 |
| 2 | SERTA SIMMONS SO TL | -12.48% | 75.80 | 86.61 |
| 3 | PETMATE TL | -8.54% | 89.65 | 98.03 |
| 4 | VERIFONE TL B | -6.26% | 87.76 | 93.62 |
| 5 | DAYCO TL B | -5.15% | 92.14 | 97.14 |
| 6 | WP CPP 2ND LIEN TL | -4.75% | 88.40 | 92.81 |
| 7 | BRAND ENERGY TL | -4.61% | 86.10 | 90.26 |
| 8 | NATIONAL MENTOR DD TL | -3.47% | 88.33 | 91.50 |
| 9 | WINDSTREAM SERVICES LLC EXIT TL B | -3.46% | 93.74 | 97.10 |
| 10 | LANDESK TL B | -2.90% | 91.33 | 94.06 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/13/22 – 5/20/22 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 5/13/22 – 5/20/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/13/22 vs. the week ending 5/20/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | EIRCOM FINCO SARL EUR TL B | 26 | 53 | 27 | 104% |
| 2 | TMF GROUP HOLDING BV EUR TL B | 16 | 42 | 26 | 163% |
| 3 | ZIGGO EUR TL H | 34 | 58 | 24 | 71% |
| 4 | WEBHELP EUR TL B | 12 | 32 | 20 | 167% |
| 5 | NTL CABLE PLC EUR TL B | 32 | 52 | 20 | 63% |
| 6 | MATTERHORN MOBILE EUR TL B | 18 | 36 | 18 | 100% |
| 7 | NUMERICABLE EUR TL B11 | 44 | 62 | 18 | 41% |
| 8 | NORD ANGLIA EDUCATION FINANC EUR TL B | 26 | 42 | 16 | 62% |
| 9 | FONCIA GROUPE EUR TL B | 22 | 38 | 16 | 73% |
| 10 | SKYSCRAPER PERFORMANCE EUR TL B | 20 | 34 | 14 | 70% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/13/22 – 5/20/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 20 |
| 2 | ENVISION HEALTHCARE TL B | 19 |
| 3 | ACTION NEDERLAND EUR TL B | 18 |
| 4 | IFCO EUR TL B | 18 |
| 5 | STADA ARZNEIMITTEL EUR TL F | 18 |
| 6 | DOUGLAS HOLDING EUR TL B | 18 |
| 7 | ZIGGO EUR TL H | 17 |
| 8 | DAE AVIATION TL | 17 |
| 9 | FONCIA GROUPE EUR TL B | 17 |
| 10 | HARLAND CLARKE TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/13/22 – 5/20/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/13/22 – 5/20/22 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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