Syndicated Bank Loan Market Summary – Week Ending 8/6/21
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Syndicated Bank Loan Market Summary: Week Ending 8/6/21
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 7/30/21 – 8/6/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.28% | 85.57 | 85.34 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.05% | 99.68 | 99.74 | 13 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.01% | 98.28 | 98.27 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.20% | 99.86 | 100.06 | 14 |
| 5 | 4,750 | ZAYO TL | 0.00% | 98.32 | 98.32 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.01% | 98.74 | 98.75 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.05% | 99.22 | 99.27 | 12 |
| 8 | 4,197 | AKZONOBEL TL B | -0.15% | 98.60 | 98.75 | 10 |
| 9 | 3,900 | DIRECTV TL | -0.05% | 99.70 | 99.75 | 13 |
| 10 | 3,582 | MISYS TL B | 0.27% | 98.53 | 98.27 | 14 |
| 11 | 3,575 | STARS GROUP TL B | 0.41% | 99.65 | 99.24 | 13 |
| 12 | 3,524 | TRANSDIGM INC. TL F | -0.15% | 98.02 | 98.17 | 14 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.03% | 99.05 | 99.08 | 14 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.31% | 102.28 | 102.61 | 12 |
| 15 | 3,380 | SOLERA TL B | -0.05% | 99.78 | 99.83 | 14 |
| 16 | 3,338 | ASURION TL B6 | -0.05% | 98.75 | 98.81 | 11 |
| 17 | 3,325 | CINEWORLD TL B | -2.92% | 78.77 | 81.13 | 13 |
| 18 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.06% | 99.51 | 99.57 | 10 |
| 19 | 3,312 | HUB INTL LTD TL B | 0.01% | 98.43 | 98.42 | 15 |
| 20 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | 1.18% | 55.19 | 54.54 | 12 |
| AVERAGE | 4,016 | -0.10% | 95.30 | 95.40 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 7/30/21 – 8/6/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PREIT ASSOCIATES EXIT 2ND LIEN TL | 16.62% | 51.50 | 44.16 |
| 2 | LIMETREE BAY TL B | 11.56% | 81.81 | 73.33 |
| 3 | STEINHOFF FIN. HLDG GMBH PIK EUR TL A2 | 5.63% | 75.68 | 71.64 |
| 4 | ALLIANCE HEALTH PIK 2ND LIEN TL | 1.94% | 88.65 | 86.96 |
| 5 | NINE WEST GROUP INC EXIT TL | 1.77% | 71.00 | 69.77 |
| 6 | CONTURA ENERGY INC TL | 1.68% | 93.51 | 91.96 |
| 7 | ORAVEL TL B | 1.49% | 103.38 | 101.87 |
| 8 | COMDATA SPA EUR TL B | 1.26% | 66.61 | 65.78 |
| 9 | LIFEMILES TL B | 1.16% | 99.55 | 98.41 |
| 10 | PRO MACH TL B | 1.15% | 99.54 | 98.40 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/30/21 – 8/6/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SAMARCO MINERACAO TL | -5.93% | 63.38 | 67.37 |
| 2 | AT&T COLOCATION TL | -3.23% | 81.20 | 83.91 |
| 3 | AUDIO VISUAL TL B1 | -3.09% | 86.63 | 89.39 |
| 4 | CINEWORLD TL B | -2.92% | 78.77 | 81.13 |
| 5 | EQUINOX HLDGS INC 2ND LIEN TL | -2.56% | 84.34 | 86.56 |
| 6 | NSO GROUP TL | -2.03% | 86.00 | 87.78 |
| 7 | AMC ENTERTAINMENT TL B1 | -1.87% | 87.10 | 88.76 |
| 8 | TRAVELPORT TL B | -1.74% | 83.38 | 84.85 |
| 9 | NBG HOME TL | -1.58% | 88.39 | 89.80 |
| 10 | AUDIO VISUAL 2ND LIEN TL | -1.47% | 75.75 | 76.88 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/30/21 – 8/6/21 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 7/30/21 – 8/6/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/30/21 vs. the week ending 8/6/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GRIFOLS WORLDWIDE EUR TL B | 18 | 50 | 32 | 178% |
| 2 | GVC HOLDINGS EUR TL B3 | 38 | 68 | 30 | 79% |
| 3 | HOTELBEDS EUR REV | 6 | 36 | 30 | 500% |
| 4 | ALPHA GROUP EUR TL | 10 | 40 | 30 | 300% |
| 5 | AMC ENTERTAINMENT PIK EUR TL B2 | 0 | 30 | 30 | N/A |
| 6 | AMC ENTERTAINMENT PIK GBP TL B1 | 0 | 30 | 30 | N/A |
| 7 | AREAS TL B2 | 0 | 30 | 30 | N/A |
| 8 | ARMACELL EUR TL B | 22 | 52 | 30 | 136% |
| 9 | PARQUES REUNIDOS SA EUR REV | 0 | 30 | 30 | N/A |
| 10 | SIGNATURE FOODS EUR TL B | 0 | 30 | 30 | N/A |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/30/21 – 8/6/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 22 |
| 2 | ELSAN GROUPE EXT EUR TL B | 18 |
| 3 | SYNLAB EUR TL B5 | 18 |
| 4 | CINEWORLD TL B | 18 |
| 5 | VERISURE EUR TL B | 17 |
| 6 | AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B | 17 |
| 7 | DORNA SPORTS EUR TL B | 17 |
| 8 | CERBA HEALTHCARE EUR TL B | 17 |
| 9 | TMF GROUP HOLDING BV EUR TL B | 17 |
| 10 | HOTELBEDS EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/30/21 – 8/6/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 7/30/21 – 8/6/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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