Syndicated Bank Loan Market Summary – Week Ending 6/5/20
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Syndicated Bank Loan Market Summary: Week Ending 6/5/20
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 5/29/20 – 6/5/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.87% | 65.69 | 65.13 | 16 |
| 2 | 4,750 | DELL TL B | 0.39% | 98.47 | 98.08 | 15 |
| 3 | 4,750 | ZAYO TL | 1.61% | 97.73 | 96.17 | 12 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL | 3.05% | 92.73 | 89.99 | 11 |
| 5 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.79% | 98.93 | 98.16 | 10 |
| 6 | 4,250 | BERRY PLASTICS TL Y | 0.02% | 97.83 | 97.81 | 12 |
| 7 | 4,200 | JOHNSON CONTROLS INTL PUBLIC LTD CO TL | 2.98% | 97.24 | 94.42 | 10 |
| 8 | 4,197 | AKZONOBEL TL B | 1.58% | 96.49 | 94.99 | 10 |
| 9 | 4,000 | T-MOBILE USA TL B | 0.28% | 100.28 | 99.99 | 11 |
| 10 | 3,861 | PETSMART CONSENTED TL B2 | 0.41% | 98.68 | 98.28 | 10 |
| 11 | 3,582 | MISYS TL B | 2.35% | 92.51 | 90.39 | 13 |
| 12 | 3,575 | STARS GROUP TL B | 1.10% | 99.42 | 98.34 | 10 |
| 13 | 3,524 | TRANSDIGM INC. TL F | 3.83% | 95.00 | 91.50 | 16 |
| 14 | 3,415 | ENDO HEALTH TL B | 1.93% | 94.96 | 93.16 | 12 |
| 15 | 3,325 | CINEWORLD TL B | 9.85% | 79.68 | 72.54 | 13 |
| 16 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.27% | 96.87 | 96.61 | 10 |
| 17 | 3,312 | HUB INTL LTD TL B | 1.28% | 97.33 | 96.10 | 11 |
| 18 | 3,300 | NTL CABLE PLC TL N | 1.17% | 98.00 | 96.86 | 11 |
| 19 | 3,300 | BMC SOFTWARE TL B | 2.75% | 96.78 | 94.19 | 17 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | 2.95% | 90.89 | 88.28 | 13 |
| AVERAGE | 3,932 | 1.97% | 94.28 | 92.55 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 5/29/20 – 6/5/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MITEL NETWORKS 2ND LIEN TL | 74.47% | 51.66 | 29.61 |
| 2 | STEINHOFF EUROPE AG 2ND LIEN EUR TL | 41.27% | 54.09 | 38.29 |
| 3 | BUCCANEER 2ND LIEN TL | 23.04% | 44.88 | 36.47 |
| 4 | COLORADO BUYER 2ND LIEN TL | 21.63% | 34.50 | 28.37 |
| 5 | CINEWORLD TL B | 18.93% | 69.38 | 58.33 |
| 6 | BUCCANEER TL | 16.13% | 71.18 | 61.30 |
| 7 | GULF FINANCE TL | 15.35% | 66.91 | 58.01 |
| 8 | NAVICO TL B | 14.50% | 50.52 | 44.12 |
| 9 | US FARATHANE CORPORATION TL B | 13.54% | 67.85 | 59.76 |
| 10 | DYNACAST TL B | 12.95% | 72.67 | 64.33 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/29/20 – 6/5/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | TECHNICOLOR EUR TL B | -17.16% | 34.69 | 41.87 |
| 2 | LIBBEY GLASS TL B | -11.03% | 41.33 | 46.46 |
| 3 | LIGHTSQUARED EXIT PIK 2ND LIEN TL | -8.30% | 40.21 | 43.84 |
| 4 | DAYTON SUPERIOR TL | -6.34% | 73.13 | 78.08 |
| 5 | KAMAN DISTRIBUTION 2ND LIEN TL | -5.94% | 73.57 | 78.21 |
| 6 | AT HOME STORES TL B | -5.70% | 66.01 | 70.00 |
| 7 | REVERE POWER TL B | -5.01% | 82.07 | 86.40 |
| 8 | APPLE LEISURE TL | -4.11% | 65.66 | 68.47 |
| 9 | MONOTYPE IMAGING TL | -3.22% | 87.45 | 90.36 |
| 10 | CONTURA ENERGY TL | -2.10% | 63.84 | 65.21 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/29/20 – 6/5/20 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 5/29/20 – 6/5/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/29/20 vs. the week ending 6/5/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ALPHA BIDCO EUR TL B1 | 8 | 27 | 19 | 238% |
| 2 | AGROFRESH TL B | 20 | 38 | 18 | 90% |
| 3 | DELACHAUX EUR TL B1 | 16 | 34 | 18 | 113% |
| 4 | IMAGINE! TL | 4 | 22 | 18 | 450% |
| 5 | ASURION TL B6 | 26 | 43 | 17 | 65% |
| 6 | AVAYA TL B | 30 | 46 | 16 | 53% |
| 7 | DIAVERUM EUR TL B | 8 | 24 | 16 | 200% |
| 8 | EPIQ SYSTEMS TL B | 34 | 50 | 16 | 47% |
| 9 | CINEWORLD TL B | 34 | 50 | 16 | 47% |
| 10 | CIRQUE DE SOLEIL TL B | 18 | 34 | 16 | 89% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/29/20 – 6/5/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HERTZ TL | 18 |
| 2 | ACTION NEDERLAND EUR TL B | 18 |
| 3 | BMC SOFTWARE TL B | 17 |
| 4 | AMC ENTERTAINMENT TL B1 | 17 |
| 5 | VERISURE EUR TL B1 | 16 |
| 6 | SIGMA BIDCO EUR TL B | 16 |
| 7 | GTT COMMUNICATIONS TL B | 16 |
| 8 | EIRCOM FINCO SARL EUR TL B | 16 |
| 9 | TRANSDIGM INC. TL F | 16 |
| 10 | ENVISION HEALTHCARE TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/29/20 – 6/5/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 5/29/20 – 6/5/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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