Syndicated Bank Loan Market Summary – Week Ending 5/28/21
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Syndicated Bank Loan Market Summary: Week Ending 5/28/21
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 5/21/21 – 5/28/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.39% | 85.32 | 84.99 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.05% | 99.94 | 99.89 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.08% | 99.07 | 98.99 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.40% | 100.82 | 100.42 | 12 |
| 5 | 4,750 | ZAYO TL | N/A | 99.24 | 99.25 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.15% | 99.18 | 99.03 | 13 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.17% | 99.59 | 99.42 | 13 |
| 8 | 4,475 | UNIVISION TL C5 | -0.08% | 99.79 | 99.86 | 12 |
| 9 | 3,582 | MISYS TL B | 0.18% | 98.68 | 98.50 | 15 |
| 10 | 3,575 | STARS GROUP TL B | 0.01% | 100.34 | 100.32 | 14 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.26% | 98.68 | 98.42 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.11% | 99.98 | 99.87 | 13 |
| 13 | 3,338 | ASURION TL B6 | 0.01% | 99.75 | 99.74 | 10 |
| 14 | 3,325 | CINEWORLD TL B | 2.36% | 86.75 | 84.75 | 13 |
| 15 | 3,312 | HUB INTL LTD TL B | 0.03% | 98.96 | 98.93 | 16 |
| 16 | 3,300 | NTL CABLE PLC TL N | 0.15% | 99.38 | 99.23 | 12 |
| 17 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.01% | 98.97 | 98.98 | 10 |
| 18 | 3,165 | MULTIPLAN TL B | 0.03% | 99.86 | 99.83 | 13 |
| 19 | 3,100 | COLORADO BUYER 2ND LIEN TL | 0.09% | 98.59 | 98.50 | 11 |
| 20 | 3,100 | ASURION TL B8 | 0.05% | 99.48 | 99.43 | 10 |
| AVERAGE | 3,958 | 0.22% | 98.12 | 97.92 | 12.6 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/21/21 – 5/28/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | STEINHOFF FIN. HLDG GMBH PIK EUR TL A2 | 7.57% | 52.66 | 48.95 |
| 2 | DONCASTERS PIK TL | 6.61% | 79.96 | 75.00 |
| 3 | FIELDWOOD ENERGY TL | 5.69% | 42.85 | 40.54 |
| 4 | EIF VAN HOOK HOLDINGS TL B | 3.55% | 87.92 | 84.91 |
| 5 | GLOBAL TELESYSTEMS 2ND LIEN TL | 2.92% | 80.04 | 77.77 |
| 6 | VUE INTERNATIONAL BIDCO PLC EUR TL B | 2.72% | 92.91 | 90.45 |
| 7 | JILL PIK TL | 2.30% | 71.21 | 69.61 |
| 8 | INDIGOCYAN GBP TL | 2.11% | 97.00 | 95.00 |
| 9 | ISAGENIX TL | 2.09% | 79.15 | 77.53 |
| 10 | CINEWORLD TL B | 2.06% | 85.65 | 83.92 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/21/21 – 5/28/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GTT COMMUNICATIONS EUR TL B | -2.86% | 86.14 | 88.68 |
| 2 | GEO GROUP TL B | -2.63% | 84.51 | 86.80 |
| 3 | CARNIVAL PLC EUR TL B | -1.88% | 100.45 | 102.38 |
| 4 | HARLAND CLARKE TL B7 | -1.84% | 88.55 | 90.21 |
| 5 | SERVICE KING TL B | -0.72% | 97.62 | 98.33 |
| 6 | CAREERBUILDER TL | -0.64% | 95.27 | 95.89 |
| 7 | LUMILEDS TL B | -0.62% | 75.02 | 75.49 |
| 8 | WEST CORP TL B | -0.51% | 97.24 | 97.74 |
| 9 | STARWOOD PROPERTY TRUST TL | -0.50% | 99.00 | 99.49 |
| 10 | GLOBAL TELESYSTEMS TL | -0.46% | 91.43 | 91.86 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/21/21 – 5/28/21 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 5/21/21 – 5/28/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/21/21 vs. the week ending 5/28/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HOWDEN TL B | 10 | 47 | 37 | 370% |
| 2 | SURGEY CENTER TL | 62 | 92 | 30 | 48% |
| 3 | CHEPLAPHARM ARZNEIMITTEL EUR TL B4 | 42 | 70 | 28 | 67% |
| 4 | ALIXPARTNERS EUR TL B | 28 | 52 | 24 | 86% |
| 5 | GTT COMMUNICATIONS EUR TL B | 10 | 34 | 24 | 240% |
| 6 | HAYWARD INDUSTRIES TL B | 20 | 41 | 21 | 105% |
| 7 | KERSIA EUR TL B | 30 | 50 | 20 | 67% |
| 8 | ADEVINTA ASA EUR TL B | 22 | 42 | 20 | 91% |
| 9 | BRIGHTSPRING TL B | 53 | 73 | 20 | 38% |
| 10 | UNITED CONTINENTAL TL B | 90 | 110 | 20 | 22% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/21/21 – 5/28/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | SIGMA BIDCO EUR TL B1 | 20 |
| 2 | LUMILEDS TL B | 19 |
| 3 | TECHEM EUR TL B4 | 19 |
| 4 | TELENET EUR TL | 19 |
| 5 | BIOGROUP DD EUR TL B | 19 |
| 6 | ELSAN GROUPE EUR TL B | 18 |
| 7 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 8 | ZIGGO EUR TL H | 18 |
| 9 | BANIJAY GROUP EUR TL B | 18 |
| 10 | TRAVELPORT TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/21/21 – 5/28/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/21/21 – 5/28/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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