Syndicated Bank Loan Market Summary – Week Ending 5/29/20
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Syndicated Bank Loan Market Summary: Week Ending 5/29/20
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 5/22/20 – 5/29/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | 1.37% | 95.50 | 94.21 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 0.87% | 65.13 | 64.57 | 17 |
| 3 | 4,750 | ZAYO TL | 1.75% | 96.17 | 94.52 | 12 |
| 4 | 4,750 | DELL TL B | 0.47% | 98.08 | 97.63 | 15 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL | 3.77% | 89.99 | 86.72 | 11 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 1.50% | 98.16 | 96.71 | 10 |
| 7 | 4,250 | BERRY PLASTICS TL Y | 2.03% | 97.81 | 95.86 | 12 |
| 8 | 4,200 | JOHNSON CONTROLS INTL PUBLIC LTD CO TL | 1.44% | 94.42 | 93.08 | 10 |
| 9 | 4,000 | T-MOBILE USA TL B | 0.31% | 99.99 | 99.68 | 11 |
| 10 | 3,861 | PETSMART CONSENTED TL B2 | 0.38% | 98.28 | 97.91 | 10 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 4.14% | 91.50 | 87.87 | 16 |
| 12 | 3,325 | CINEWORLD TL B | 15.24% | 72.54 | 62.95 | 13 |
| 13 | 3,312 | HUB INTL LTD TL B | 1.80% | 96.10 | 94.40 | 11 |
| 14 | 3,300 | BMC SOFTWARE TL B | 2.16% | 94.19 | 92.19 | 18 |
| 15 | 3,300 | NTL CABLE PLC TL N | 1.69% | 96.86 | 95.25 | 11 |
| 16 | 3,275 | SCIENTIFIC GAMES TL B5 | 2.87% | 88.28 | 85.82 | 13 |
| 17 | 3,165 | MULTIPLAN TL B | 2.05% | 95.96 | 94.03 | 10 |
| 18 | 3,161 | JAGUAR HOLDING CO I TL | 0.59% | 99.46 | 98.88 | 13 |
| 19 | 2,918 | AVAYA TL B | 0.95% | 92.87 | 91.99 | 10 |
| 20 | 2,902 | FORMULA ONE TL B | 1.21% | 93.50 | 92.37 | 10 |
| AVERAGE | 4,168 | 2.33% | 92.74 | 90.83 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/22/20 – 5/29/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CRESTWOOD MIDSTREAM TL B | 24.89% | 55.04 | 44.07 |
| 2 | STETSON MIDSTREAM TL B | 22.78% | 66.91 | 54.49 |
| 3 | DOUGLAS HOLDING EUR TL B8 | 17.35% | 79.03 | 67.35 |
| 4 | CINEWORLD EXT TL B | 13.86% | 70.57 | 61.98 |
| 5 | AFFINITY GAMING TL B | 12.93% | 79.06 | 70.01 |
| 6 | STEINHOFF EUROPE AG 2ND LIEN EUR TL | 11.20% | 38.29 | 34.43 |
| 7 | MITEL NETWORKS 2ND LIEN TL | 10.36% | 29.61 | 26.83 |
| 8 | SUNDYNE TL B | 10.11% | 89.04 | 80.87 |
| 9 | BUCCANEER 2ND LIEN TL | 9.91% | 36.47 | 33.18 |
| 10 | TRAEGER 2ND LIEN TL | 9.53% | 82.11 | 74.97 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/22/20 – 5/29/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | TRAVEL LEADERS TL | -16.24% | 61.15 | 73.00 |
| 2 | APC AFTERMARKET PIK TL A1 | -11.65% | 62.00 | 70.17 |
| 3 | MCS TL B | -6.52% | 46.46 | 49.70 |
| 4 | APPLE LEISURE TL | -4.46% | 68.47 | 71.67 |
| 5 | QUIKSILVER TL B | -3.94% | 62.94 | 65.52 |
| 6 | SWITCH TL B | -3.65% | 93.82 | 97.37 |
| 7 | NAVICO TL B | -2.53% | 44.12 | 45.27 |
| 8 | IQOR TL B | -2.47% | 54.29 | 55.67 |
| 9 | LIGHTSQUARED EXIT PIK TL | -1.67% | 84.98 | 86.42 |
| 10 | BLACKBOARD TL B5 | -1.63% | 88.41 | 89.88 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/22/20 – 5/29/20 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 5/22/20 – 5/29/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/22/20 vs. the week ending 5/29/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ARNOTT TL B | 0 | 10 | 10 | N/A |
| 2 | SIGMA BIDCO EUR TL B | 16 | 26 | 10 | 63% |
| 3 | ETON TL | 0 | 9 | 9 | N/A |
| 4 | HUDSON RIVER TL B | 2 | 10 | 8 | 400% |
| 5 | MEMORA EUR TL B1 | 0 | 8 | 8 | N/A |
| 6 | NEP EUR TL B | 0 | 8 | 8 | N/A |
| 7 | VERISURE EUR TL B | 2 | 10 | 8 | 400% |
| 8 | TIPICO EUR TL B | 14 | 21 | 7 | 50% |
| 9 | TRC COMPANIES TL B | 0 | 6 | 6 | N/A |
| 10 | WINEBOW TL B | 20 | 26 | 6 | 30% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/22/20 – 5/29/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HERTZ TL | 20 |
| 2 | BMC SOFTWARE TL B | 18 |
| 3 | AMC ENTERTAINMENT TL B1 | 17 |
| 4 | AVIS BUDGET TL B | 17 |
| 5 | ENVISION HEALTHCARE TL B | 17 |
| 6 | VERISURE EUR TL B1 | 16 |
| 7 | SIGMA BIDCO EUR TL B | 16 |
| 8 | GTT COMMUNICATIONS TL B | 16 |
| 9 | EIRCOM FINCO SARL EUR TL B | 16 |
| 10 | TRANSDIGM INC. TL F | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/22/20 – 5/29/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/22/20 – 5/29/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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