Syndicated Bank Loan Market Summary – Week Ending 6/25/21
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Syndicated Bank Loan Market Summary: Week Ending 6/25/21
MITEL NETWORKS 2ND LIEN TL MITL increased 3.3% from $54.80 to $56.60 last week following Destiny’s announced acquisition of Telepo and Soluno making them the largest European UCass platform. SINCLAIR BROADCAST GROUP INC. TL B decreased -8.0% from $67.53 to $62.16 last week as the company searches for financing options for a key new streaming platform. Energy Oil and Gas was the top performing industry over the past week up 0.9% as oil prices continue to hit record highs and driven by gains in Fieldwood Energy, Philadelphia Energy and Acteon Group loans.
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/18/21 – 6/25/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.04% | 85.41 | 85.37 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.07% | 99.83 | 99.90 | 14 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.15% | 98.75 | 98.90 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.24% | 101.37 | 101.12 | 12 |
| 5 | 4,750 | ZAYO TL | -0.21% | 98.94 | 99.14 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.01% | 99.07 | 99.08 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.02% | 99.58 | 99.56 | 13 |
| 8 | 4,197 | AKZONOBEL TL B | 0.09% | 99.34 | 99.25 | 10 |
| 9 | 3,582 | MISYS TL B | 0.06% | 98.43 | 98.38 | 14 |
| 10 | 3,575 | STARS GROUP TL B | -0.09% | 100.09 | 100.18 | 14 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -0.05% | 98.50 | 98.55 | 15 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.21% | 99.79 | 100.00 | 14 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | -0.05% | 104.07 | 104.12 | 10 |
| 14 | 3,380 | SOLERA TL B | -0.03% | 100.26 | 100.29 | 13 |
| 15 | 3,338 | ASURION TL B6 | -0.04% | 99.46 | 99.50 | 10 |
| 16 | 3,325 | CINEWORLD TL B | -0.29% | 88.12 | 88.37 | 14 |
| 17 | 3,312 | HUB INTL LTD TL B | -0.08% | 98.82 | 98.90 | 16 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -7.96% | 62.16 | 67.54 | 10 |
| 19 | 3,300 | NTL CABLE PLC TL N | N/A | 99.15 | 99.15 | 12 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.08% | 98.82 | 98.74 | 13 |
| AVERAGE | 3,984 | -0.44% | 96.50 | 96.80 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 6/18/21 – 6/25/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | STEINHOFF EUROPE TL B2 | 15.57% | 75.79 | 65.58 |
| 2 | LIGHTSTONE GENERATION LLC TL C | 8.08% | 76.22 | 70.53 |
| 3 | UNIFRAX 2ND LIEN TL | 4.16% | 93.93 | 90.18 |
| 4 | MITEL NETWORKS 2ND LIEN TL | 3.30% | 56.61 | 54.80 |
| 5 | WP CPP 2ND LIEN TL | 3.07% | 97.10 | 94.21 |
| 6 | TRAVELPORT P TL | 2.67% | 105.01 | 102.28 |
| 7 | EXELA TL B | 2.37% | 40.41 | 39.47 |
| 8 | LUMILEDS TL B | 1.84% | 83.36 | 81.86 |
| 9 | AUDIO VISUAL TL B1 | 1.74% | 91.37 | 89.81 |
| 10 | SECURUS TL | 1.67% | 94.62 | 93.06 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/18/21 – 6/25/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | LIMETREE BAY TL B | -14.71% | 71.28 | 83.57 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B | -7.96% | 62.16 | 67.54 |
| 3 | SERTA SIMMONS TL | -4.73% | 68.85 | 72.27 |
| 4 | PEABODY ENERGY TL B | -2.12% | 63.62 | 65.00 |
| 5 | ENDO HEALTH TL B | -1.96% | 95.89 | 97.81 |
| 6 | TENEO HOLDINGS TL | -1.53% | 98.55 | 100.08 |
| 7 | TELESAT TL B | -1.50% | 93.11 | 94.52 |
| 8 | HERITAGE POWER TL B | -1.37% | 88.02 | 89.24 |
| 9 | POULT EUR TL B | -1.05% | 97.00 | 98.03 |
| 10 | UNILABS EUR TL B | -1.01% | 98.77 | 99.78 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/18/21 – 6/25/21 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 6/18/21 – 6/25/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/18/21 vs. the week ending 6/25/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | UNIVERSAL SERVICES EUR TL B | 6 | 56 | 50 | 833% |
| 2 | BIOGROUP DD EUR TL B | 56 | 98 | 42 | 75% |
| 3 | MITEL NETWORKS TL | 44 | 72 | 28 | 64% |
| 4 | TECHNICOLOR EUR TL B | 6 | 32 | 26 | 433% |
| 5 | ION CORPORATES EUR TL B | 12 | 38 | 26 | 217% |
| 6 | L&W GROUP TL B | 34 | 59 | 25 | 74% |
| 7 | PROOFPOINT TL B | 61 | 86 | 25 | 41% |
| 8 | POWER SOLUTIONS EUR TL B | 26 | 50 | 24 | 92% |
| 9 | TECHNICOLOR TL B | 6 | 30 | 24 | 400% |
| 10 | TECHNICOLOR DD EUR TL | 6 | 30 | 24 | 400% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/18/21 – 6/25/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 21 |
| 2 | BIOGROUP DD EUR TL B | 19 |
| 3 | VERISURE EUR TL B | 18 |
| 4 | RACKSPACE HOSTING TL B | 18 |
| 5 | ELSAN GROUPE EXT EUR TL B | 18 |
| 6 | SYNLAB EUR TL B5 | 18 |
| 7 | SIGMA BIDCO EUR TL B1 | 18 |
| 8 | PLAYA RESORTS TL B | 18 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 10 | ZIGGO EUR TL H | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/18/21 – 6/25/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/18/21 – 6/25/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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