Syndicated Bank Loan Market Summary – Week Ending 6/17/22
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Syndicated Bank Loan Market Summary: Week Ending 6/17/22
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 6/17/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Univision Communications Inc. | Term Loan | 500 | 6/24/2029 | S+425 |
| Signature Aviation US Hldg Inc. | Term Loan | 1100 | 6/6/2029 | S+375 |
Forward Calendar
List of upcoming syndicated loan being marketed in the United States as of 6/17/22
| Issuer | Deal Information | Banks | Expected Issue Date |
| Avaya | $500MM TL | GS | Q2 2022 |
| Dave & Busters Inc. | $850MM TLB (B) | DB, JPM, BMO, WF, TRS, CO, FT | Q2 2022 |
| Firststudent & Firsttransit | $770MM term loans: $720MM TLB; $50MM TLC | BCLY, MS, BMO, RBC, JEFF, CS, TD, CTB, BNP, DB, MUFG, STFL | Q2 2022 |
| Terra Millennium Corp. | $585MM credit facilities (B2/B): $50MM revolver; $435MM TL; $100MM DD TL | MACQ, STFL | Q2 2022 |
| Vertex Co. | $260MM TLB | RBC, MUFG, STF, USB, CTB | Q2 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/10/22 – 6/17/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.54% | 96.79 | 97.32 | 10 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | -0.17% | 38.67 | 38.74 | 17 |
| 3 | 4,750 | ZAYO TL | -1.27% | 93.39 | 94.60 | 11 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.13% | 97.99 | 98.12 | 15 |
| 5 | 3,972 | POWER SOLUTIONS TL B | -0.35% | 96.86 | 97.21 | 10 |
| 6 | 3,900 | DIRECTV TL | -0.89% | 96.33 | 97.20 | 13 |
| 7 | 3,582 | MISYS TL B | -0.60% | 94.81 | 95.38 | 12 |
| 8 | 3,524 | TRANSDIGM INC. TL F | -0.38% | 97.37 | 97.74 | 12 |
| 9 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.26% | 96.92 | 97.17 | 12 |
| 10 | 3,450 | GOLDEN NUGGET INC TL B | -0.17% | 96.30 | 96.47 | 12 |
| 11 | 3,400 | REFRESCO HOLDING EUR TL B | -0.14% | 96.67 | 96.80 | 10 |
| 12 | 3,380 | SOLERA TL B | -0.51% | 96.09 | 96.58 | 14 |
| 13 | 3,325 | CINEWORLD TL B | -5.04% | 66.50 | 70.03 | 15 |
| 14 | 3,312 | HUB INTL LTD TL B | 0.39% | 97.51 | 97.13 | 13 |
| 15 | 3,300 | NTL CABLE PLC TL N | -0.19% | 97.36 | 97.55 | 11 |
| 16 | 3,100 | JAZZ PHARMA TL B | -0.53% | 97.74 | 98.26 | 10 |
| 17 | 3,000 | WESTINGHOUSE TL B | 0.05% | 96.86 | 96.82 | 15 |
| 18 | 2,985 | HARBOR FREIGHT TL B | 0.76% | 93.52 | 92.81 | 12 |
| 19 | 2,884 | BMC SOFTWARE TL B | -0.60% | 96.42 | 97.00 | 16 |
| 20 | 2,853 | VERTICAL MIDCO GMBH TL B | 0.07% | 97.13 | 97.06 | 10 |
| AVERAGE | 3,783 | -0.53% | 92.06 | 92.50 | 12.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 6/10/22 – 6/17/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JORDAN HEALTH TL | 5.42% | 74.57 | 70.74 |
| 2 | POWER BUYER 2ND LIEN TL | 5.23% | 70.35 | 66.86 |
| 3 | CLARION EVENTS TL | 4.58% | 85.23 | 81.50 |
| 4 | EPIC Y-GRADE SERVICES EXT TL B | 3.57% | 88.05 | 85.02 |
| 5 | WHEEL PROS TL | 2.69% | 84.23 | 82.02 |
| 6 | TELESAT TL B | 2.61% | 73.50 | 71.63 |
| 7 | UTEX FLLO | 2.23% | 99.46 | 97.29 |
| 8 | VERIFONE TL B | 1.64% | 92.50 | 91.01 |
| 9 | SABRE INDUSTRIES TL | 1.45% | 92.23 | 90.91 |
| 10 | ARCTIC GLACIER TL B | 1.28% | 86.58 | 85.49 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/10/22 – 6/17/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JO-ANN STORES TL B | -9.11% | 68.54 | 75.41 |
| 2 | EAGLEPICHER TL | -5.33% | 77.96 | 82.34 |
| 3 | CINEWORLD TL B | -5.04% | 66.50 | 70.03 |
| 4 | INNOVATIVE XCESSORIES TL | -4.76% | 84.28 | 88.49 |
| 5 | US RENAL CARE TL B | -3.70% | 74.31 | 77.17 |
| 6 | LIFESCAN TL B | -2.82% | 89.64 | 92.24 |
| 7 | AT HOME STORES TL B | -2.43% | 82.95 | 85.02 |
| 8 | GREYSTONE SELECT FINANCIAL TL B | -2.11% | 92.56 | 94.56 |
| 9 | CONAIR HOLDINGS TL | -1.77% | 89.51 | 91.12 |
| 10 | CINEWORLD PIK P TL B1 | -1.40% | 111.96 | 113.55 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/10/22 – 6/17/22 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 6/10/22 – 6/17/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/10/22 vs. the week ending 6/17/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BMC SOFTWARE TL B | 77 | 108 | 31 | 40% |
| 2 | CEVA SANTE ANIMALE EUR TL B | 16 | 46 | 30 | 188% |
| 3 | GENESEE & WYOMING TL | 63 | 92 | 29 | 46% |
| 4 | BJ’S TL B | 57 | 86 | 29 | 51% |
| 5 | NTL CABLE PLC TL N | 58 | 86 | 28 | 48% |
| 6 | KLOECKNER EUR TL B | 10 | 38 | 28 | 280% |
| 7 | HOLLAND & BARRETT EUR TL B | 10 | 38 | 28 | 280% |
| 8 | LESLIE’S POOLMART TL B | 34 | 62 | 28 | 82% |
| 9 | NTL CABLE PLC EUR TL B | 30 | 58 | 28 | 93% |
| 10 | JO-ANN STORES TL B | 44 | 72 | 28 | 64% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/10/22 – 6/17/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 21 |
| 2 | STADA ARZNEIMITTEL EUR TL F | 20 |
| 3 | IFCO EUR TL B | 19 |
| 4 | ENVISION HEALTHCARE TL B | 19 |
| 5 | NUMERICABLE EUR TL B11 | 18 |
| 6 | EIRCOM FINCO SARL EUR TL B | 18 |
| 7 | ZIGGO EUR TL H | 18 |
| 8 | KLOECKNER EUR TL B | 18 |
| 9 | FONCIA GROUPE EUR TL B | 18 |
| 10 | DOUGLAS HOLDING EUR TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/10/22 – 6/17/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/10/22 – 6/17/22 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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