Syndicated Bank Loan Market Summary – Week Ending 6/26/20
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Syndicated Bank Loan Market Summary: Week Ending 6/26/20
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 6/19/20 – 6/26/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -3.86% | 68.56 | 71.31 | 17 |
| 2 | 4,750 | DELL TL B | -1.00% | 97.47 | 98.45 | 15 |
| 3 | 4,750 | ZAYO TL | -1.49% | 95.25 | 96.69 | 12 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL | -2.99% | 90.08 | 92.86 | 12 |
| 5 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -1.52% | 97.07 | 98.57 | 10 |
| 6 | 4,475 | UNIVISION TL C5 | -1.88% | 93.28 | 95.07 | 10 |
| 7 | 4,250 | BERRY PLASTICS TL Y | -1.23% | 96.26 | 97.46 | 13 |
| 8 | 4,200 | JOHNSON CONTROLS INTL PUBLIC LTD CO TL | -1.18% | 95.81 | 96.95 | 10 |
| 9 | 4,197 | AKZONOBEL TL B | -1.29% | 94.57 | 95.80 | 12 |
| 10 | 4,000 | T-MOBILE USA TL B | -0.28% | 99.75 | 100.03 | 13 |
| 11 | 3,582 | MISYS TL B | -2.29% | 87.87 | 89.93 | 12 |
| 12 | 3,575 | STARS GROUP TL B | -0.21% | 99.38 | 99.59 | 13 |
| 13 | 3,524 | TRANSDIGM INC. TL F | -2.80% | 90.42 | 93.02 | 16 |
| 14 | 3,415 | ENDO HEALTH TL B | -1.19% | 94.47 | 95.61 | 12 |
| 15 | 3,325 | CINEWORLD TL B | -2.94% | 75.60 | 77.89 | 15 |
| 16 | 3,312 | HUB INTL LTD TL B | -1.14% | 95.71 | 96.82 | 11 |
| 17 | 3,300 | BMC SOFTWARE TL B | -1.04% | 94.66 | 95.65 | 15 |
| 18 | 3,300 | NTL CABLE PLC TL N | -1.31% | 95.83 | 97.10 | 12 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | -1.53% | 89.95 | 91.34 | 12 |
| 20 | 3,165 | MULTIPLAN TL B | -1.23% | 95.17 | 96.36 | 10 |
| AVERAGE | 3,955 | -1.62% | 92.36 | 93.83 | 12.6 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 6/19/20 – 6/26/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | ACCURIDE TL B | 15.70% | 62.96 | 54.42 |
| 2 | TECHNICOLOR TL B | 14.28% | 47.80 | 41.83 |
| 3 | DRILLINGINFO TL | 12.71% | 90.61 | 80.39 |
| 4 | TRAVEL LEADERS TL | 9.17% | 67.30 | 61.64 |
| 5 | FOGO DE CHAO TL | 8.72% | 63.94 | 58.82 |
| 6 | PURESTAR TL | 8.33% | 65.00 | 60.00 |
| 7 | GNC FLLO | 7.06% | 93.71 | 87.53 |
| 8 | EPIC Y-GRADE SERVICES TL B | 6.92% | 71.99 | 67.33 |
| 9 | MALLINCKRODT TL B | 6.77% | 74.84 | 70.10 |
| 10 | ISAGENIX TL | 5.18% | 38.68 | 36.78 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/19/20 – 6/26/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JASON INC 2ND LIEN TL | -23.51% | 20.56 | 26.88 |
| 2 | MSX INTERNATIONAL TL B4 | -15.11% | 71.78 | 84.55 |
| 3 | 24 HOUR FITNESS TL B | -13.38% | 22.88 | 26.41 |
| 4 | AMERICAN AIRLINES TL B | -6.47% | 68.47 | 73.21 |
| 5 | PHOTOBOX GBP TL B | -5.67% | 90.54 | 95.98 |
| 6 | STAPLES TL B1 | -5.24% | 86.03 | 90.79 |
| 7 | RENFRO TL B | -5.08% | 34.87 | 36.74 |
| 8 | PARTY CITY TL B | -4.79% | 47.05 | 49.41 |
| 9 | STAPLES TL B2 | -4.59% | 87.41 | 91.61 |
| 10 | DIAMOND SPORTS TL B | -4.54% | 84.11 | 88.11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/19/20 – 6/26/20 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 6/19/20 – 6/26/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/19/20 vs. the week ending 6/26/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | WYNDHAM DESTINATIONS, INC. EUR TL B | 14 | 40 | 26 | 186% |
| 2 | ACTION NEDERLAND EUR TL B | 32 | 49 | 17 | 53% |
| 3 | DANA HOLDING TL B | 11 | 28 | 17 | 155% |
| 4 | CABOT MICROELECTRONICS CORP TL B | 0 | 12 | 12 | N/A |
| 5 | BRIGHTSPRING TL B | 20 | 32 | 12 | 60% |
| 6 | GOLDEN ENTERTAINMENT TL | 10 | 22 | 12 | 120% |
| 7 | EXACT HOLDING EUR TL B | 14 | 24 | 10 | 71% |
| 8 | LIFETIME TL B | 10 | 20 | 10 | 100% |
| 9 | BCP RENAISSANCE TL B | 20 | 30 | 10 | 50% |
| 10 | AMF BOWLMOR TL B | 10 | 20 | 10 | 100% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/19/20 – 6/26/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HERTZ TL | 18 |
| 2 | WINDSTREAM SERVICES LLC TL B7 | 18 |
| 3 | ACTION NEDERLAND EUR TL B | 18 |
| 4 | VERISURE EUR TL B1 | 17 |
| 5 | AMC ENTERTAINMENT TL B1 | 17 |
| 6 | ENVISION HEALTHCARE TL B | 17 |
| 7 | GTT COMMUNICATIONS TL B | 17 |
| 8 | TRANSDIGM INC. TL G | 16 |
| 9 | TRANSDIGM INC. TL F | 16 |
| 10 | EIRCOM FINCO SARL EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/19/20 – 6/26/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/19/20 – 6/26/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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