Syndicated Bank Loan Market Summary – Week Ending 7/31/20
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Syndicated Bank Loan Market Summary: Week Ending 7/31/20
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 7/24/20 – 7/31/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.46% | 65.32 | 65.02 | 14 |
| 2 | 4,750 | DELL TL B | -0.19% | 98.55 | 98.74 | 14 |
| 3 | 4,750 | ZAYO TL | -0.32% | 96.74 | 97.05 | 11 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL | 0.27% | 91.72 | 91.47 | 12 |
| 5 | 4,250 | BERRY PLASTICS TL X | -0.65% | 97.58 | 98.21 | 10 |
| 6 | 4,250 | BERRY PLASTICS TL Y | -0.56% | 96.86 | 97.41 | 14 |
| 7 | 4,000 | T-MOBILE USA TL B | -0.02% | 100.33 | 100.34 | 14 |
| 8 | 3,861 | PETSMART CONSENTED TL B2 | 0.28% | 99.71 | 99.43 | 10 |
| 9 | 3,582 | MISYS TL B | 0.36% | 92.30 | 91.97 | 12 |
| 10 | 3,575 | STARS GROUP TL B | -0.08% | 99.88 | 99.96 | 10 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -0.33% | 93.46 | 93.77 | 14 |
| 12 | 3,325 | CINEWORLD TL B | -9.09% | 62.88 | 69.17 | 11 |
| 13 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.29% | 98.03 | 98.32 | 10 |
| 14 | 3,312 | HUB INTL LTD TL B | -0.48% | 97.01 | 97.47 | 11 |
| 15 | 3,300 | BMC SOFTWARE TL B | -0.53% | 96.44 | 96.95 | 14 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.53% | 96.81 | 97.32 | 11 |
| 17 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.40% | 90.93 | 91.30 | 12 |
| 18 | 3,165 | MULTIPLAN TL B | 0.12% | 98.33 | 98.21 | 10 |
| 19 | 3,161 | JAGUAR HOLDING CO I TL | -0.09% | 99.51 | 99.61 | 13 |
| 20 | 3,100 | COLORADO BUYER 2ND LIEN TL | -1.15% | 35.71 | 36.13 | 13 |
| AVERAGE | 3,797 | -0.66% | 90.41 | 90.89 | 12.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 7/24/20 – 7/31/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | FIELDWOOD ENERGY TL | 17.02% | 24.11 | 20.60 |
| 2 | MALLINCKRODT EXT TL B | 10.60% | 82.39 | 74.50 |
| 3 | BELK EXT TL B | 10.27% | 41.13 | 37.30 |
| 4 | PARTY CITY TL B | 7.38% | 52.05 | 48.47 |
| 5 | PITNEY BOWES TL B | 6.49% | 91.30 | 85.74 |
| 6 | AT HOME STORES TL B | 6.40% | 84.04 | 78.99 |
| 7 | MOHEGAN TL A | 5.97% | 88.23 | 83.26 |
| 8 | PRECYSE HEALTHCARE TL B | 5.83% | 87.66 | 82.83 |
| 9 | KINDERCARE LEARNING CENTER 2ND LIEN TL | 4.97% | 79.46 | 75.70 |
| 10 | MSX INTERNATIONAL EUR TL B3 | 4.34% | 80.15 | 76.81 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/24/20 – 7/31/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CINEWORLD TL B | -9.28% | 62.68 | 69.09 |
| 2 | WESTJET TL | -6.87% | 72.92 | 78.29 |
| 3 | 24 HOUR FITNESS TL B | -5.04% | 21.48 | 22.62 |
| 4 | VUE INTERNATIONAL BIDCO PLC EUR TL B | -4.94% | 77.00 | 81.00 |
| 5 | ANCHOR GLASS TL B | -4.06% | 74.97 | 78.14 |
| 6 | CLUB CORP TL B | -3.06% | 85.12 | 87.80 |
| 7 | AMC ENTERTAINMENT TL B1 | -2.98% | 65.46 | 67.47 |
| 8 | GTT COMMUNICATIONS TL B | -2.77% | 74.67 | 76.80 |
| 9 | IMG WORLDWIDE TL B | -2.24% | 78.58 | 80.38 |
| 10 | HORNBLOWER TL | -2.10% | 79.36 | 81.07 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/24/20 – 7/31/20 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 7/24/20 – 7/31/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/24/20 vs. the week ending 7/31/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | AMERICAN AIRLINES TL B | 4 | 24 | 20 | 500% |
| 2 | DAE AVIATION TL B2 | 10 | 24 | 14 | 140% |
| 3 | EPICOR SOFTWARE 2ND LIEN TL | 6 | 20 | 14 | 233% |
| 4 | VERSCEND TL | 28 | 42 | 14 | 50% |
| 5 | VANTAGE SPECIALTY 2ND LIEN TL | 16 | 28 | 12 | 75% |
| 6 | TESSERA TECH TL B | 8 | 20 | 12 | 150% |
| 7 | LANDRY’S TL B | 26 | 38 | 12 | 46% |
| 8 | DAE AVIATION TL | 45 | 57 | 12 | 27% |
| 9 | DUFF & PHELPS TL B | 44 | 56 | 12 | 27% |
| 10 | TENSAR TL | 29 | 40 | 11 | 38% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/24/20 – 7/31/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | VERISURE EUR TL B | 17 |
| 2 | VERISURE EUR TL B1 | 17 |
| 3 | AMC ENTERTAINMENT TL B1 | 17 |
| 4 | AKZONOBEL EUR TL B | 16 |
| 5 | GTT COMMUNICATIONS TL B | 16 |
| 6 | THYSSENKRUPP AG EUR TL B | 16 |
| 7 | TECHEM EUR TL B | 16 |
| 8 | EIRCOM FINCO SARL EUR TL B | 16 |
| 9 | ACTION NEDERLAND EUR TL B | 16 |
| 10 | HARLAND CLARKE TL B7 | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/24/20 – 7/31/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 7/24/20 – 7/31/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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