Syndicated Bank Loan Market Summary – Week Ending 8/27/21
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Syndicated Bank Loan Market Summary: Week Ending 8/27/21
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 8/20/21 – 8/27/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.10% | 87.78 | 87.87 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.13% | 99.75 | 99.63 | 12 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.25% | 98.65 | 98.40 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.21% | 100.14 | 99.93 | 14 |
| 5 | 4,750 | ZAYO TL | 0.14% | 98.50 | 98.36 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.31% | 99.10 | 98.80 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.14% | 99.61 | 99.47 | 13 |
| 8 | 3,972 | POWER SOLUTIONS TL B | 0.12% | 98.84 | 98.72 | 10 |
| 9 | 3,900 | DIRECTV TL | 0.34% | 99.94 | 99.60 | 12 |
| 10 | 3,582 | MISYS TL B | 0.16% | 98.74 | 98.58 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | 0.33% | 98.40 | 98.08 | 13 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.14% | 99.19 | 99.05 | 13 |
| 13 | 3,380 | SOLERA TL B | 0.12% | 99.93 | 99.81 | 15 |
| 14 | 3,338 | ASURION TL B6 | 0.16% | 98.86 | 98.70 | 11 |
| 15 | 3,325 | CINEWORLD TL B | -0.20% | 77.63 | 77.78 | 12 |
| 16 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | N/A | 99.40 | 99.40 | 10 |
| 17 | 3,312 | HUB INTL LTD TL B | 0.34% | 98.84 | 98.51 | 15 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.26% | 98.92 | 98.67 | 11 |
| 19 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | 6.38% | 58.84 | 55.32 | 12 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.30% | 99.06 | 98.77 | 12 |
| AVERAGE | 3,980 | 0.48% | 95.51 | 95.17 | 12.7 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/20/21 – 8/27/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | JILL TL B | 20.46% | 83.85 | 69.61 |
| 2 | PREIT ASSOCIATES EXIT 2ND LIEN TL | 8.52% | 56.88 | 52.41 |
| 3 | SINCLAIR BROADCAST GROUP INC. TL B | 6.38% | 58.84 | 55.32 |
| 4 | HORNBLOWER PIK TL B | 3.25% | 95.00 | 92.01 |
| 5 | AMC ENTERTAINMENT TL B1 | 2.17% | 88.38 | 86.50 |
| 6 | GULF FINANCE TL | 2.02% | 83.82 | 82.16 |
| 7 | PEABODY ENERGY TL B | 1.85% | 72.75 | 71.43 |
| 8 | SECURUS 2ND LIEN TL | 1.37% | 89.90 | 88.68 |
| 9 | ACETOW GMBH EUR TL | 1.23% | 92.00 | 90.88 |
| 10 | AMERICAN AIRLINES TL B | 1.22% | 92.96 | 91.84 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/20/21 – 8/27/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PREMIERE GLOBAL TL | -5.58% | 37.12 | 39.31 |
| 2 | NBG HOME TL | -4.02% | 85.83 | 89.43 |
| 3 | GREEN ENERGY PARTNERS/ST TL B2 | -3.23% | 89.75 | 92.75 |
| 4 | JORDAN HEALTH TL | -2.01% | 89.61 | 91.45 |
| 5 | AUDIO VISUAL TL B1 | -1.96% | 86.15 | 87.87 |
| 6 | GTT COMMUNICATIONS EUR TL B | -1.71% | 80.36 | 81.76 |
| 7 | AREAS EUR TL B1 | -1.37% | 87.60 | 88.81 |
| 8 | YAK MAT TL B | -0.99% | 85.63 | 86.49 |
| 9 | STAPLES TL B1 | -0.97% | 94.39 | 95.32 |
| 10 | PANDA HUMMEL DD TL B2 | -0.80% | 93.50 | 94.25 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/20/21 – 8/27/21 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 8/20/21 – 8/27/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/20/21 vs. the week ending 8/27/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PARQUES REUNIDOS SA EUR REV | 0 | 24 | 24 | N/A |
| 2 | HOTELBEDS EUR REV | 10 | 32 | 22 | 220% |
| 3 | BAY CLUB TL B | 25 | 46 | 21 | 84% |
| 4 | FITNESS & SPORT CLUBS TL B | 30 | 50 | 20 | 67% |
| 5 | MILLER’S ALE HOUSE TL B | 8 | 28 | 20 | 250% |
| 6 | VISUAL COMFORT 2ND LIEN TL | 16 | 36 | 20 | 125% |
| 7 | GTT COMMUNICATIONS EUR TL B | 18 | 37 | 19 | 106% |
| 8 | BEAVST EUR TL B | 19 | 38 | 19 | 100% |
| 9 | ALTER DOMUS EUR TL B | 30 | 48 | 18 | 60% |
| 10 | COLOUR BIDCO GBP TL | 0 | 18 | 18 | N/A |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/20/21 – 8/27/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 21 |
| 2 | SYNLAB EUR TL B5 | 19 |
| 3 | ZIGGO EUR TL H | 19 |
| 4 | ELSAN GROUPE EXT EUR TL B | 18 |
| 5 | IFCO EUR TL B | 18 |
| 6 | CHEPLAPHARM ARZNEIMITTEL EUR TL B4 | 18 |
| 7 | ALPHA BIDCO EUR TL B | 18 |
| 8 | VERISURE EUR TL B | 17 |
| 9 | RACKSPACE HOSTING TL B | 17 |
| 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 8/20/21 – 8/27/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/20/21 – 8/27/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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