Syndicated Bank Loan Market Summary – Week Ending 8/21/20
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Syndicated Bank Loan Market Summary: Week Ending 8/21/20
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 8/14/20 – 8/21/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 5.12% | 70.49 | 67.06 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.39% | 97.93 | 98.31 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.95% | 96.12 | 97.05 | 11 |
| 4 | 4,750 | ZAYO TL | -1.11% | 96.48 | 97.56 | 12 |
| 5 | 4,750 | DELL TL B | -0.19% | 98.93 | 99.13 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL | -0.12% | 93.11 | 93.23 | 10 |
| 7 | 4,250 | BERRY PLASTICS TL X | -0.25% | 98.51 | 98.75 | 10 |
| 8 | 4,250 | BERRY PLASTICS TL Y | -0.78% | 97.06 | 97.82 | 14 |
| 9 | 4,197 | AKZONOBEL TL B | -0.57% | 96.61 | 97.16 | 10 |
| 10 | 4,000 | T-MOBILE USA TL B | -0.33% | 99.98 | 100.31 | 15 |
| 11 | 3,582 | MISYS TL B | 0.00% | 94.53 | 94.53 | 12 |
| 12 | 3,575 | STARS GROUP TL B | -0.12% | 99.97 | 100.10 | 11 |
| 13 | 3,524 | TRANSDIGM INC. TL F | -0.55% | 94.65 | 95.17 | 14 |
| 14 | 3,325 | CINEWORLD TL B | 1.50% | 70.22 | 69.18 | 13 |
| 15 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.53% | 98.30 | 98.83 | 11 |
| 16 | 3,312 | HUB INTL LTD TL B | -0.34% | 97.15 | 97.48 | 11 |
| 17 | 3,300 | BMC SOFTWARE TL B | 0.25% | 98.05 | 97.81 | 15 |
| 18 | 3,300 | NTL CABLE PLC TL N | -0.44% | 97.17 | 97.60 | 11 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.34% | 93.25 | 92.93 | 12 |
| 20 | 3,165 | MULTIPLAN TL B | -0.28% | 98.65 | 98.93 | 10 |
| AVERAGE | 4,006 | 0.01% | 94.36 | 94.45 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/14/20 – 8/21/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | BOB’S FURNITURE TL B | 16.14% | 90.81 | 78.19 |
| 2 | PROGREXION TL | 14.77% | 74.50 | 64.91 |
| 3 | MENS WEARHOUSE TL B2 | 12.84% | 29.97 | 26.56 |
| 4 | RODAN & FIELDS TL B | 8.86% | 61.77 | 56.74 |
| 5 | NPC TL | 6.48% | 69.92 | 65.66 |
| 6 | AIR METHODS TL | 6.26% | 86.10 | 81.03 |
| 7 | ZEP 2ND LIEN TL | 6.02% | 73.83 | 69.64 |
| 8 | MOHEGAN TL A | 5.64% | 93.67 | 88.67 |
| 9 | COOPER STANDARD TL B | 5.11% | 84.85 | 80.73 |
| 10 | DAE AVIATION TL B2 | 3.99% | 85.88 | 82.58 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/14/20 – 8/21/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GUGGENHEIM TL B | -10.32% | 89.29 | 99.56 |
| 2 | GLOBAL EAGLE ENTERTMNT TL B | -7.61% | 65.37 | 70.76 |
| 3 | BELK EXT TL B | -6.00% | 36.96 | 39.32 |
| 4 | AKORN TL B | -5.77% | 90.72 | 96.27 |
| 5 | AMERICAN AIRLINES TL B | -4.33% | 60.64 | 63.38 |
| 6 | KUONI REISEN EUR TL B | -3.17% | 85.70 | 88.51 |
| 7 | HOTELBEDS EUR TL C | -2.52% | 71.53 | 73.38 |
| 8 | WATERBRIDGE OPERATING TL B | -2.18% | 80.28 | 82.07 |
| 9 | SMS SYSTEMS TL | -1.98% | 76.20 | 77.74 |
| 10 | GGP LP TL B | -1.86% | 80.50 | 82.02 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/14/20 – 8/21/20 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 8/14/20 – 8/21/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/14/20 vs. the week ending 8/21/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | IMPERVA 2ND LIEN TL | 3 | 21 | 18 | 600% |
| 2 | NETS HOLDINGS EUR TL B2 | 8 | 26 | 18 | 225% |
| 3 | NTL CABLE PLC GBP TL L | 0 | 18 | 18 | N/A |
| 4 | NTL CABLE PLC GBP TL M | 0 | 18 | 18 | N/A |
| 5 | LOGMEIN TL B | 2 | 19 | 17 | 850% |
| 6 | JARDEN TL B | 22 | 38 | 16 | 73% |
| 7 | AMER SPORTS EUR TL B2 | 3 | 19 | 16 | 533% |
| 8 | CENTRAL SECURITY GROUP TL | 4 | 20 | 16 | 400% |
| 9 | VALEO FOODS EUR TL B | 0 | 16 | 16 | N/A |
| 10 | AUDIO VISUAL TL B | 7 | 22 | 15 | 214% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/14/20 – 8/21/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 19 |
| 2 | ACTION NEDERLAND EUR TL B | 19 |
| 3 | TECHEM EUR TL B | 17 |
| 4 | AKZONOBEL EUR TL B | 16 |
| 5 | GTT COMMUNICATIONS TL B | 16 |
| 6 | EIRCOM FINCO SARL EUR TL B | 16 |
| 7 | IFCO EUR TL B | 16 |
| 8 | TELENET EUR TL A | 16 |
| 9 | BRAND ENERGY TL | 16 |
| 10 | AMERICAN AIRLINES TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/14/20 – 8/21/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/14/20 – 8/21/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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