Syndicated Bank Loan Market Summary – Week Ending 5/7/21
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Syndicated Bank Loan Market Summary: Week Ending 5/7/21
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 4/30/21 – 5/7/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 1.99% | 85.44 | 83.78 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.02% | 99.90 | 99.88 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.02% | 98.70 | 98.72 | 11 |
| 4 | 4,750 | ZAYO TL | -0.17% | 98.77 | 98.95 | 15 |
| 5 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.01% | 98.87 | 98.87 | 14 |
| 6 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.42% | 99.41 | 99.83 | 12 |
| 7 | 4,475 | UNIVISION TL C5 | -0.07% | 99.64 | 99.71 | 11 |
| 8 | 4,197 | AKZONOBEL TL B | -0.02% | 98.71 | 98.73 | 10 |
| 9 | 3,582 | MISYS TL B | -0.01% | 98.21 | 98.22 | 15 |
| 10 | 3,575 | STARS GROUP TL B | -0.10% | 100.20 | 100.30 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -0.28% | 98.43 | 98.71 | 14 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.01% | 99.60 | 99.60 | 12 |
| 13 | 3,338 | ASURION TL B6 | -0.02% | 99.68 | 99.70 | 10 |
| 14 | 3,325 | CINEWORLD TL B | -0.38% | 85.36 | 85.69 | 13 |
| 15 | 3,312 | HUB INTL LTD TL B | -0.06% | 98.58 | 98.64 | 17 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.18% | 98.98 | 99.16 | 12 |
| 17 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.03% | 98.46 | 98.49 | 11 |
| 18 | 3,165 | MULTIPLAN TL B | 0.04% | 99.49 | 99.46 | 13 |
| 19 | 3,100 | COLORADO BUYER 2ND LIEN TL | 0.21% | 98.81 | 98.61 | 12 |
| 20 | 3,000 | HARBOR FREIGHT TL B | -0.01% | 99.90 | 99.91 | 12 |
| AVERAGE | 3,912 | 0.02% | 97.76 | 97.75 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 4/30/21 – 5/7/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MITEL NETWORKS 2ND LIEN TL | 7.68% | 52.92 | 49.15 |
| 2 | FIELDWOOD ENERGY TL | 6.91% | 39.31 | 36.78 |
| 3 | WOODFORD EXPRESS TL B | 4.14% | 94.94 | 91.16 |
| 4 | PEABODY ENERGY TL B | 3.36% | 34.24 | 33.13 |
| 5 | CARESTREAM HEALTH 2ND LIEN TL | 2.84% | 94.99 | 92.36 |
| 6 | EQUINOX HLDGS INC 2ND LIEN TL | 2.76% | 89.55 | 87.14 |
| 7 | ARRAY CANADA TL B | 2.42% | 63.75 | 62.24 |
| 8 | ENVISION HEALTHCARE TL B | 1.99% | 85.44 | 83.78 |
| 9 | HOTELBEDS EUR TL C | 1.86% | 88.28 | 86.66 |
| 10 | CIRQUE DE SOLEIL 2ND LIEN TL | 1.65% | 98.19 | 96.60 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/30/21 – 5/7/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MCDERMOTT EXIT TL | -22.66% | 42.34 | 54.75 |
| 2 | PREMIERE GLOBAL TL | -9.59% | 46.96 | 51.94 |
| 3 | WEST DEPTFORD ENERGY TL B | -4.04% | 90.41 | 94.21 |
| 4 | MALLINCKRODT TL B | -1.12% | 96.57 | 97.67 |
| 5 | SECURUS TL | -1.10% | 91.14 | 92.16 |
| 6 | STAPLES TL B1 | -1.01% | 96.67 | 97.66 |
| 7 | CORRECTIONS CORP OF AMERICA TL B | -1.00% | 96.90 | 97.88 |
| 8 | REVERE POWER TL B | -0.96% | 95.01 | 95.93 |
| 9 | CPV SHORE TL B | -0.96% | 95.50 | 96.42 |
| 10 | WATERBRIDGE OPERATING TL B | -0.87% | 96.47 | 97.32 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/30/21 – 5/7/21 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 4/30/21 – 5/7/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/30/21 vs. the week ending 5/7/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ASTORIA ENERGY TL B | 28 | 58 | 30 | 107% |
| 2 | GI REVELATION TL | 16 | 42 | 26 | 163% |
| 3 | LONZA GROUP EUR TL | 4 | 28 | 24 | 600% |
| 4 | ADVISOR GROUP TL B | 58 | 80 | 22 | 38% |
| 5 | WARNER MUSIC TL B | 52 | 74 | 22 | 42% |
| 6 | MCDERMOTT EXIT TL | 1 | 22 | 21 | 2100% |
| 7 | BERLIN PACKAGING EXT TL B | 10 | 30 | 20 | 200% |
| 8 | PQ CORP TL B | 0 | 20 | 20 | N/A |
| 9 | ASCEND PERFORMANCE MATERIALS TL B | 51 | 69 | 18 | 35% |
| 10 | VICTORY CAPITAL HOLDINGS INC TL B | 27 | 44 | 17 | 63% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/30/21 – 5/7/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TECHEM EUR TL B4 | 19 |
| 2 | TELENET EUR TL | 19 |
| 3 | BIOGROUP DD EUR TL B | 19 |
| 4 | HUB INTL LTD TL B2 | 18 |
| 5 | ELSAN GROUPE EUR TL B | 18 |
| 6 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 7 | ZIGGO EUR TL H | 18 |
| 8 | NTL CABLE PLC EUR TL R | 17 |
| 9 | RACKSPACE HOSTING TL B | 17 |
| 10 | VERISURE EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/30/21 – 5/7/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 4/30/21 – 5/7/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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