Syndicated Bank Loan Market Summary – Week Ending 7/30/21
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Syndicated Bank Loan Market Summary: Week Ending 7/30/21
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 7/23/21 – 7/30/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.65% | 85.34 | 84.79 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.11% | 99.74 | 99.85 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.18% | 98.27 | 98.45 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.38% | 100.06 | 100.44 | 13 |
| 5 | 4,750 | ZAYO TL | -0.32% | 98.32 | 98.63 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.21% | 98.75 | 98.96 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.19% | 99.27 | 99.46 | 12 |
| 8 | 4,197 | AKZONOBEL TL B | -0.02% | 98.75 | 98.77 | 10 |
| 9 | 3,900 | DIRECTV TL | -0.52% | 99.75 | 100.28 | 12 |
| 10 | 3,582 | MISYS TL B | -0.05% | 98.27 | 98.32 | 14 |
| 11 | 3,575 | STARS GROUP TL B | -0.55% | 99.24 | 99.78 | 14 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.26% | 98.17 | 98.43 | 14 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.51% | 99.08 | 99.59 | 14 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.98% | 102.61 | 103.62 | 12 |
| 15 | 3,380 | SOLERA TL B | -0.16% | 99.83 | 99.99 | 14 |
| 16 | 3,325 | CINEWORLD TL B | -0.46% | 81.13 | 81.51 | 11 |
| 17 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.15% | 99.57 | 99.72 | 10 |
| 18 | 3,312 | HUB INTL LTD TL B | -0.16% | 98.42 | 98.58 | 15 |
| 19 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -0.88% | 54.54 | 55.02 | 11 |
| 20 | 3,300 | NTL CABLE PLC TL N | -0.29% | 98.43 | 98.72 | 12 |
| AVERAGE | 4,014 | -0.29% | 95.38 | 95.65 | 12.6 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 7/23/21 – 7/30/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | REVLON TL B | 14.09% | 56.80 | 49.79 |
| 2 | WESTERN DENTAL TL B | 4.35% | 99.46 | 95.32 |
| 3 | AUGUSTA SPORTSWEAR TL | 3.28% | 98.04 | 94.92 |
| 4 | PEABODY ENERGY TL B | 3.26% | 72.88 | 70.58 |
| 5 | INMAR 2ND LIEN TL | 1.42% | 98.37 | 97.00 |
| 6 | IMAGINA MEDIA AUDIOVISUAL SL EUR TL A2 | 1.04% | 95.47 | 94.48 |
| 7 | CONTURA ENERGY INC TL | 1.01% | 91.96 | 91.05 |
| 8 | EUROPCAR GROUPE S.A. EUR TL | 0.89% | 99.51 | 98.63 |
| 9 | NEP 2ND LIEN TL | 0.87% | 94.50 | 93.69 |
| 10 | COLORADO BUYER TL | 0.86% | 97.89 | 97.05 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/23/21 – 7/30/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | EXELA TL B | -3.69% | 70.97 | 73.69 |
| 2 | LIMETREE BAY TL B | -3.34% | 73.33 | 75.87 |
| 3 | ATI PHYSICAL THERAPY TL B | -2.81% | 96.82 | 99.62 |
| 4 | TELESAT TL B | -2.47% | 90.98 | 93.28 |
| 5 | AMERICAN AIRLINES TL B | -2.44% | 92.91 | 95.24 |
| 6 | AUDIO VISUAL 2ND LIEN TL | -1.91% | 76.88 | 78.37 |
| 7 | TRAVELPORT TL B | -1.55% | 84.85 | 86.18 |
| 8 | STADIUM MANAGEMENT TL | -1.55% | 93.22 | 94.68 |
| 9 | ESSENTIAL POWER TL B | -1.19% | 92.78 | 93.90 |
| 10 | TRAVEL LEADERS TL | -1.11% | 93.01 | 94.05 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/23/21 – 7/30/21 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 7/23/21 – 7/30/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/23/21 vs. the week ending 7/30/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BMC SOFTWARE EUR TL B | 28 | 56 | 28 | 100% |
| 2 | ATLANTIC AVIATION TL | 26 | 50 | 24 | 92% |
| 3 | GVC HOLDINGS TL B | 28 | 52 | 24 | 86% |
| 4 | SKYSCRAPER PERFORMANCE EUR TL B | 34 | 56 | 22 | 65% |
| 5 | UPC HOLDING BV EUR TL | 22 | 44 | 22 | 100% |
| 6 | SKYSCRAPER PERFORMANCE TL B | 22 | 42 | 20 | 91% |
| 7 | NTL CABLE PLC EUR TL R | 52 | 70 | 18 | 35% |
| 8 | PHILIPS APPLIANCES EUR TL B | 34 | 52 | 18 | 53% |
| 9 | ZAYO EUR TL | 22 | 40 | 18 | 82% |
| 10 | EURO ETHNIC FOODS EUR TL B | 6 | 24 | 18 | 300% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/23/21 – 7/30/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 22 |
| 2 | ELSAN GROUPE EXT EUR TL B | 19 |
| 3 | SYNLAB EUR TL B5 | 19 |
| 4 | BIOGROUP DD EUR TL B | 19 |
| 5 | VERISURE EUR TL B | 18 |
| 6 | AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B | 18 |
| 7 | DORNA SPORTS EUR TL B | 18 |
| 8 | CERBA HEALTHCARE EUR TL B | 18 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 18 |
| 10 | WEBHELP EUR TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/23/21 – 7/30/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 7/23/21 – 7/30/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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