Syndicated Bank Loan Market Summary – Week Ending 7/23/21
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Syndicated Bank Loan Market Summary: Week Ending 7/23/21
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 7/16/21 – 7/23/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.54% | 84.79 | 85.25 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.06% | 99.85 | 99.91 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.08% | 98.45 | 98.53 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.82% | 100.44 | 101.27 | 13 |
| 5 | 4,750 | ZAYO TL | N/A | 98.63 | 98.63 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.19% | 98.96 | 99.15 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.13% | 99.46 | 99.59 | 12 |
| 8 | 3,582 | MISYS TL B | -0.43% | 98.32 | 98.75 | 14 |
| 9 | 3,575 | STARS GROUP TL B | -0.23% | 99.78 | 100.01 | 15 |
| 10 | 3,524 | TRANSDIGM INC. TL F | -0.10% | 98.43 | 98.53 | 14 |
| 11 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.15% | 99.59 | 99.74 | 14 |
| 12 | 3,500 | AMERICAN AIRLINES TL B | -0.65% | 103.62 | 104.30 | 12 |
| 13 | 3,380 | SOLERA TL B | -0.08% | 99.99 | 100.08 | 14 |
| 14 | 3,325 | CINEWORLD TL B | -0.69% | 81.51 | 82.08 | 12 |
| 15 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.12% | 99.72 | 99.84 | 10 |
| 16 | 3,312 | HUB INTL LTD TL B | -0.19% | 98.58 | 98.77 | 15 |
| 17 | 3,300 | NTL CABLE PLC TL N | -0.23% | 98.72 | 98.95 | 12 |
| 18 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -0.81% | 55.02 | 55.47 | 12 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.51% | 98.67 | 99.18 | 12 |
| 20 | 3,165 | MULTIPLAN TL B | -0.08% | 99.45 | 99.53 | 13 |
| AVERAGE | 3,932 | -0.31% | 95.60 | 95.88 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 7/16/21 – 7/23/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | WORLDSTRIDES PIK HOLDCO TL | 13.01% | 61.26 | 54.21 |
| 2 | MITEL NETWORKS 2ND LIEN TL | 3.91% | 62.99 | 60.62 |
| 3 | SAMARCO MINERACAO TL | 3.86% | 67.95 | 65.43 |
| 4 | AMERICAN AIRLINES TL B | 2.42% | 99.51 | 97.16 |
| 5 | FLEETPRIDE 2ND LIEN TL | 2.10% | 96.83 | 94.84 |
| 6 | CVENT TL B | 1.87% | 99.67 | 97.84 |
| 7 | UNIFRAX 2ND LIEN TL | 1.46% | 97.98 | 96.58 |
| 8 | RSA SECURITY LLC DD 2ND LIEN TL | 1.39% | 99.62 | 98.25 |
| 9 | AIR CANADA TL B | 1.13% | 99.61 | 98.50 |
| 10 | BIOPLAN PIK TL B | 1.11% | 94.00 | 92.97 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/16/21 – 7/23/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | EXELA TL B | -5.71% | 73.69 | 78.15 |
| 2 | CINEWORLD TL B | -3.18% | 80.81 | 83.47 |
| 3 | WORLDSTRIDES EXIT PIK SO TL | -3.01% | 93.36 | 96.26 |
| 4 | LUMILEDS TL B | -2.83% | 80.41 | 82.75 |
| 5 | STEINHOFF FIN. HLDG GMBH PIK EUR TL A2 | -2.23% | 71.65 | 73.28 |
| 6 | AUDIO VISUAL TL B1 | -1.81% | 90.21 | 91.87 |
| 7 | EPIC CRUDE TL B | -1.75% | 76.45 | 77.82 |
| 8 | NATIONAL CINEMEDIA TL B | -1.57% | 90.04 | 91.48 |
| 9 | STADIUM MANAGEMENT TL | -1.53% | 94.68 | 96.16 |
| 10 | PREMIERE GLOBAL TL | -1.52% | 38.79 | 39.39 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/16/21 – 7/23/21 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 7/16/21 – 7/23/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GVC HOLDINGS TL B | 2 | 28 | 26 | 1300% |
| 2 | STYROLUTION TL B | 44 | 66 | 22 | 50% |
| 3 | XPLORNET TL B | 18 | 38 | 20 | 111% |
| 4 | ICON PLC TL | 28 | 48 | 20 | 71% |
| 5 | MEDIWARE TL B | 64 | 83 | 19 | 30% |
| 6 | HILDING ANDERS PIK EUR TL B | 12 | 30 | 18 | 150% |
| 7 | CALIBER COLLISION TL | 78 | 96 | 18 | 23% |
| 8 | CHANGE HEALTHCARE TL B | 51 | 69 | 18 | 35% |
| 9 | COREL TL | 20 | 38 | 18 | 90% |
| 10 | WHEELS UP FIN TL B | 6 | 24 | 18 | 300% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/16/21 – 7/23/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 22 |
| 2 | ELSAN GROUPE EXT EUR TL B | 19 |
| 3 | BIOGROUP DD EUR TL B | 19 |
| 4 | VERISURE EUR TL B | 18 |
| 5 | SYNLAB EUR TL B5 | 18 |
| 6 | CERBA HEALTHCARE EUR TL B | 18 |
| 7 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 8 | WEBHELP EUR TL B | 18 |
| 9 | ZIGGO EUR TL H | 18 |
| 10 | AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/16/21 – 7/23/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 7/16/21 – 7/23/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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