Syndicated Bank Loan Market Summary – Week Ending 7/2/20
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Syndicated Bank Loan Market Summary: Week Ending 7/2/20
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 6/26/20 – 7/2/20
| 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 6/26/20 – 7/2/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JO-ANN STORES 2ND LIEN TL | 30.81% | 35.30 | 26.98 |
| 2 | GENERAL ELECTRIC DISTRIBUTED POWER 2ND LIEN TL | 14.61% | 85.96 | 75.00 |
| 3 | BUCCANEER 2ND LIEN TL | 9.48% | 50.00 | 45.67 |
| 4 | HERTZ TL | 6.07% | 91.45 | 86.21 |
| 5 | NAVICO TL B | 6.01% | 59.00 | 55.66 |
| 6 | ADB SAFEGATE EUR TL B | 5.70% | 81.05 | 76.68 |
| 7 | NOVAFIVES TL | 4.86% | 70.56 | 67.29 |
| 8 | THOM EUROPE EUR TL B | 4.73% | 91.59 | 87.45 |
| 9 | EAGLECLAW TL B | 4.62% | 73.32 | 70.08 |
| 10 | GO WIRELESS TL | 4.29% | 82.06 | 78.69 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/26/20 – 7/2/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MCDERMOTT TL B | -17.23% | 35.19 | 42.52 |
| 2 | REVLON TL B | -9.54% | 26.80 | 29.63 |
| 3 | UNIMIN CORP TL | -8.89% | 57.66 | 63.28 |
| 4 | LANDRY’S TL B | -7.82% | 77.44 | 84.01 |
| 5 | AMERICAN AIRLINES TL B | -6.48% | 68.22 | 72.95 |
| 6 | AMC ENTERTAINMENT TL B1 | -5.59% | 68.59 | 72.65 |
| 7 | ENVISION HEALTHCARE TL B | -5.53% | 65.89 | 69.75 |
| 8 | CHESAPEAKE ENERGY FLLO | -5.29% | 56.13 | 59.27 |
| 9 | GOLDEN NUGGET INC TL B | -5.28% | 79.11 | 83.52 |
| 10 | AREAS EUR TL B1 | -4.19% | 78.41 | 81.83 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/26/20 – 7/2/20 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 6/26/20 – 7/2/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/26/20 vs. the week ending 7/2/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ASSUREDPARTNERS TL B | 10 | 28 | 18 | 180% |
| 2 | MISYS EUR TL B | 14 | 28 | 14 | 100% |
| 3 | VERISURE EUR TL B1 | 14 | 28 | 14 | 100% |
| 4 | KANTAR TL B | 6 | 18 | 12 | 200% |
| 5 | LGC EUR TL B | 12 | 24 | 12 | 100% |
| 6 | BMC SOFTWARE EUR TL B | 18 | 30 | 12 | 67% |
| 7 | MCDERMOTT TL B | 13 | 24 | 11 | 85% |
| 8 | MCS TL B | 10 | 20 | 10 | 100% |
| 9 | KANTAR EUR TL B | 24 | 34 | 10 | 42% |
| 10 | NUMERICABLE TL B11 | 18 | 28 | 10 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/26/20 – 7/2/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HERTZ TL | 19 |
| 2 | VERISURE EUR TL B1 | 17 |
| 3 | AMC ENTERTAINMENT TL B1 | 17 |
| 4 | WINDSTREAM SERVICES LLC TL B7 | 17 |
| 5 | ENVISION HEALTHCARE TL B | 16 |
| 6 | EIRCOM FINCO SARL EUR TL B | 16 |
| 7 | AMERICAN AIRLINES TL B | 16 |
| 8 | TRANSDIGM INC. TL F | 16 |
| 9 | TECHEM EUR TL B | 16 |
| 10 | TELENET EUR TL A | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/26/20 – 7/2/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/26/20 – 7/2/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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