Syndicated Bank Loan Market Summary – Week Ending 7/2/21
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Syndicated Bank Loan Market Summary: Week Ending 7/2/21
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 6/25/21 – 7/2/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | N/A | 85.41 | 85.41 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.02% | 99.85 | 99.83 | 14 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.25% | 98.51 | 98.75 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.09% | 101.28 | 101.37 | 13 |
| 5 | 4,750 | ZAYO TL | -0.12% | 98.82 | 98.94 | 16 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.12% | 99.19 | 99.07 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.03% | 99.55 | 99.58 | 13 |
| 8 | 4,197 | AKZONOBEL TL B | -0.17% | 99.17 | 99.34 | 10 |
| 9 | 3,582 | MISYS TL B | -0.05% | 98.39 | 98.43 | 14 |
| 10 | 3,575 | STARS GROUP TL B | -0.04% | 100.05 | 100.09 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -0.02% | 98.48 | 98.50 | 15 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.04% | 99.74 | 99.79 | 14 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | 0.16% | 104.23 | 104.07 | 10 |
| 14 | 3,380 | SOLERA TL B | 0.01% | 100.27 | 100.26 | 13 |
| 15 | 3,338 | ASURION TL B6 | 0.07% | 99.53 | 99.46 | 10 |
| 16 | 3,325 | CINEWORLD TL B | -0.68% | 87.52 | 88.12 | 13 |
| 17 | 3,312 | HUB INTL LTD TL B | 0.02% | 98.84 | 98.82 | 17 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -4.57% | 59.32 | 62.16 | 11 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.09% | 99.06 | 99.15 | 12 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.39% | 99.21 | 98.82 | 13 |
| AVERAGE | 3,984 | -0.27% | 96.32 | 96.50 | 13.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 6/25/21 – 7/2/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | EXELA TL B | 68.64% | 68.14 | 40.41 |
| 2 | FIELDWOOD ENERGY TL | 12.48% | 50.77 | 45.13 |
| 3 | DONCASTERS PIK TL | 8.23% | 92.93 | 85.86 |
| 4 | CORRECT CARE 2ND LIEN TL | 5.73% | 95.15 | 90.00 |
| 5 | CIBT HOLDINGS TL | 4.83% | 85.50 | 81.56 |
| 6 | OUTERSTUFF TL B | 4.47% | 71.48 | 68.42 |
| 7 | EPIC CRUDE TL B | 3.46% | 78.71 | 76.07 |
| 8 | NSO GROUP TL | 3.18% | 89.86 | 87.09 |
| 9 | CBL & ASSOCIATES TL A | 2.50% | 81.83 | 79.84 |
| 10 | ALLIANCE HEALTH TL B | 2.49% | 98.70 | 96.30 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/25/21 – 7/2/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B | -4.57% | 59.32 | 62.16 |
| 2 | STEINHOFF EUROPE PIK EUR TL A1 | -3.46% | 101.27 | 104.89 |
| 3 | TALEN ENERGY SUPPLY LLC TL B | -2.10% | 92.83 | 94.82 |
| 4 | SERTA SIMMONS TL | -2.09% | 67.42 | 68.85 |
| 5 | SIGMA BIDCO PLN TL B3 | -1.65% | 94.79 | 96.39 |
| 6 | HOTELBEDS EUR TL C | -1.41% | 90.21 | 91.50 |
| 7 | AREAS EUR TL B1 | -1.39% | 89.79 | 91.06 |
| 8 | ALSTOM SA TL B2 | -1.01% | 80.81 | 81.64 |
| 9 | IMAGINA MEDIA AUDIOVISUAL SL EUR TL A1 | -0.96% | 93.33 | 94.24 |
| 10 | B&B HOTELS EUR TL B | -0.93% | 95.81 | 96.71 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/25/21 – 7/2/21 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 6/25/21 – 7/2/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/25/21 vs. the week ending 7/2/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | LGC TL B | 8 | 36 | 28 | 350% |
| 2 | NATIONAL MENTOR TL C | 2 | 30 | 28 | 1400% |
| 3 | SIGMA BIDCO EUR REV | 0 | 24 | 24 | N/A |
| 4 | SOCOTEC EUR TL B | 0 | 20 | 20 | N/A |
| 5 | NTL CABLE PLC EUR TL B | 60 | 78 | 18 | 30% |
| 6 | HARLAND CLARKE TL B7 | 66 | 84 | 18 | 27% |
| 7 | AUDIO VISUAL 2ND LIEN TL | 21 | 38 | 17 | 81% |
| 8 | CIBT HOLDINGS TL | 38 | 54 | 16 | 42% |
| 9 | DOUGLAS HOLDING EUR TL B | 44 | 60 | 16 | 36% |
| 10 | IMAGINA MEDIA AUDIOVISUAL SL EUR TL A2 | 22 | 38 | 16 | 73% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/25/21 – 7/2/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 21 |
| 2 | ELSAN GROUPE EXT EUR TL B | 19 |
| 3 | BIOGROUP DD EUR TL B | 19 |
| 4 | RACKSPACE HOSTING TL B | 18 |
| 5 | VERISURE EUR TL B | 18 |
| 6 | SYNLAB EUR TL B5 | 18 |
| 7 | PLAYA RESORTS TL B | 18 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 9 | ZIGGO EUR TL H | 18 |
| 10 | TECHEM EUR TL B4 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/25/21 – 7/2/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/25/21 – 7/2/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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