Syndicated Bank Loan Market Summary – Week Ending 5/8/20
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Syndicated Bank Loan Market Summary: Week Ending 5/8/20
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 5/1/20 – 5/8/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 10,649 | INOVYN EUR TL B | 0.13% | 94.92 | 94.80 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 1.08% | 68.31 | 67.58 | 17 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.11% | 94.08 | 93.97 | 10 |
| 4 | 4,750 | ZAYO TL | 0.95% | 94.36 | 93.47 | 14 |
| 5 | 4,750 | DELL TL B | 0.39% | 97.51 | 97.13 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL | 1.08% | 85.00 | 84.09 | 11 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.18% | 96.32 | 96.14 | 12 |
| 8 | 4,250 | BERRY PLASTICS TL Y | -0.04% | 95.57 | 95.61 | 12 |
| 9 | 4,197 | AKZONOBEL TL B | 2.44% | 92.70 | 90.49 | 10 |
| 10 | 3,861 | PETSMART CONSENTED TL B2 | 1.02% | 97.46 | 96.48 | 10 |
| 11 | 3,575 | STARS GROUP TL B | 0.43% | 97.83 | 97.42 | 11 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 0.53% | 86.83 | 86.37 | 15 |
| 13 | 3,325 | CINEWORLD TL B | -1.93% | 61.18 | 62.39 | 14 |
| 14 | 3,300 | BMC SOFTWARE TL B | 4.58% | 89.00 | 85.10 | 16 |
| 15 | 3,300 | NTL CABLE PLC TL N | 1.12% | 94.95 | 93.90 | 11 |
| 16 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.35% | 82.14 | 81.86 | 11 |
| 17 | 3,210 | HUB INTL LTD TL B | 0.21% | 94.07 | 93.87 | 11 |
| 18 | 3,165 | MULTIPLAN TL B | 1.40% | 92.13 | 90.86 | 10 |
| 19 | 3,161 | JAGUAR HOLDING CO I TL | 0.48% | 98.32 | 97.86 | 12 |
| 20 | 2,918 | AVAYA TL B | 0.67% | 87.77 | 87.18 | 10 |
| AVERAGE | 4,246 | 0.76% | 90.02 | 89.33 | 12.1 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/1/20 – 5/8/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | NAPA MANAGEMENT SERVICES TL B | 24.38% | 75.14 | 60.41 |
| 2 | P.F. CHANG’S TL | 15.50% | 59.85 | 51.82 |
| 3 | WYNDHAM DESTINATIONS, INC. TL B | 10.25% | 93.21 | 84.54 |
| 4 | NEP 2ND LIEN TL | 9.68% | 62.06 | 56.58 |
| 5 | ENCINO ACQUISITION PARTNERS 2ND LIEN TL | 9.66% | 45.86 | 41.82 |
| 6 | SPECTRUM PLASTICS 2ND LIEN TL | 8.73% | 70.15 | 64.52 |
| 7 | US SILICA CO TL B | 8.59% | 60.43 | 55.64 |
| 8 | GETTY IMAGES EUR TL B | 7.88% | 85.44 | 79.20 |
| 9 | PERSTORP EUR TL | 7.46% | 84.80 | 78.91 |
| 10 | FRANKLIN ENERGY TL | 6.12% | 78.32 | 73.80 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/1/20 – 5/8/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JCREW CONSENTED TL B | -34.55% | 38.77 | 59.23 |
| 2 | BELK EXT TL B | -19.25% | 31.59 | 39.12 |
| 3 | CIRQUE DE SOLEIL TL B | -14.07% | 38.10 | 44.35 |
| 4 | SONICWALL 2ND LIEN TL | -9.62% | 67.65 | 74.85 |
| 5 | ZEST DENTAL TL | -8.44% | 72.66 | 79.35 |
| 6 | EDWARD DON TL B | -8.11% | 63.96 | 69.61 |
| 7 | CINEWORLD TL B | -7.58% | 56.91 | 61.58 |
| 8 | SKILLSOFT EXT TL | -6.06% | 54.37 | 57.87 |
| 9 | CENGAGE TL | -5.59% | 70.98 | 75.18 |
| 10 | WESTJET TL | -5.22% | 75.39 | 79.54 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/1/20 – 5/8/20 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 5/1/20 – 5/8/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/1/20 vs. the week ending 5/8/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CENGAGE TL | 14 | 36 | 22 | 157% |
| 2 | RCN GRANDE TL B | 33 | 54 | 21 | 64% |
| 3 | HYLAND SOFTWARE TL | 23 | 39 | 16 | 70% |
| 4 | APC AFTERMARKET PIK TL A2 | 6 | 20 | 14 | 233% |
| 5 | BEASLEY BROADCAST TL B | 28 | 40 | 12 | 43% |
| 6 | BWAY HOLDING TL B | 21 | 33 | 12 | 57% |
| 7 | ENNIS-FLINT TL | 12 | 24 | 12 | 100% |
| 8 | SPRINGER NATURE TL B | 20 | 32 | 12 | 60% |
| 9 | TRANSDIGM INC. TL G | 56 | 67 | 11 | 20% |
| 10 | RIVERBED TL B | 41 | 52 | 11 | 27% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/1/20 – 5/8/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | VERISURE EUR TL B1 | 19 |
| 2 | HERTZ TL | 17 |
| 3 | ENVISION HEALTHCARE TL B | 17 |
| 4 | BMC SOFTWARE TL B | 16 |
| 5 | AMC ENTERTAINMENT TL B1 | 16 |
| 6 | PEAK 10 TL | 16 |
| 7 | DELL TL B | 15 |
| 8 | HILTON TL B | 15 |
| 9 | EIRCOM FINCO SARL EUR TL B | 15 |
| 10 | AVIS BUDGET TL B | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/1/20 – 5/8/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/1/20 – 5/8/20 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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