Syndicated Bank Loan Market Summary – Week Ending 9/17/21
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Syndicated Bank Loan Market Summary: Week Ending 9/17/21
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 9/10/21 – 9/17/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 1.44% | 89.42 | 88.15 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | -0.01% | 99.88 | 99.90 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.01% | 98.86 | 98.87 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.24% | 100.76 | 100.51 | 13 |
| 5 | 4,750 | ZAYO TL | 0.14% | 99.18 | 99.04 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.08% | 99.42 | 99.34 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.09% | 99.82 | 99.73 | 13 |
| 8 | 3,900 | DIRECTV TL | -0.04% | 100.19 | 100.23 | 12 |
| 9 | 3,582 | MISYS TL B | 0.06% | 99.11 | 99.05 | 15 |
| 10 | 3,524 | TRANSDIGM INC. TL F | 0.01% | 98.72 | 98.70 | 13 |
| 11 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.10% | 99.75 | 99.64 | 14 |
| 12 | 3,380 | SOLERA TL B | 0.11% | 100.22 | 100.11 | 15 |
| 13 | 3,338 | ASURION TL B6 | 0.07% | 99.29 | 99.21 | 10 |
| 14 | 3,325 | CINEWORLD TL B | 1.57% | 78.94 | 77.72 | 10 |
| 15 | 3,312 | HUB INTL LTD TL B | 0.07% | 99.08 | 99.01 | 13 |
| 16 | 3,300 | NTL CABLE PLC TL N | 0.11% | 99.24 | 99.14 | 11 |
| 17 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -1.59% | 61.81 | 62.81 | 10 |
| 18 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.06% | 99.27 | 99.21 | 11 |
| 19 | 3,100 | JAZZ PHARMA TL B | 0.00% | 100.26 | 100.27 | 11 |
| 20 | 3,100 | ASURION TL B8 | 0.13% | 98.29 | 98.16 | 10 |
| AVERAGE | 3,926 | 0.13% | 96.08 | 95.94 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 9/10/21 – 9/17/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | ASK CHEMICALS EUR TL | 5.59% | 95.00 | 89.97 |
| 2 | TRANSCENDIA TL B | 4.20% | 88.12 | 84.57 |
| 3 | GENUINE FINANCIAL 2ND LIEN TL | 3.53% | 95.51 | 92.25 |
| 4 | KUONI REISEN GBP TL B | 3.44% | 98.21 | 94.94 |
| 5 | LIGHTSTONE GENERATION LLC TL B | 3.35% | 77.35 | 74.84 |
| 6 | AUDIO VISUAL TL B1 | 3.35% | 89.92 | 87.01 |
| 7 | NEUSTAR 2ND LIEN TL B | 2.81% | 99.78 | 97.06 |
| 8 | PEAK 10 2ND LIEN TL | 2.79% | 91.29 | 88.81 |
| 9 | KUONI REISEN EUR TL B | 2.69% | 98.37 | 95.80 |
| 10 | GLOBAL TELESYSTEMS 2ND LIEN TL | 2.59% | 88.79 | 86.55 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/10/21 – 9/17/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B | -1.59% | 61.81 | 62.81 |
| 2 | RIVERBED PIK 2ND LIEN TL | -1.58% | 72.58 | 73.75 |
| 3 | JO-ANN STORES TL B | -1.58% | 96.69 | 98.24 |
| 4 | SERVICE KING TL B | -1.39% | 94.64 | 95.98 |
| 5 | HOLLAND & BARRETT EUR TL B | -1.19% | 95.57 | 96.72 |
| 6 | JORDAN HEALTH TL | -1.14% | 89.43 | 90.46 |
| 7 | CAREERBUILDER TL | -1.10% | 92.27 | 93.30 |
| 8 | BCPE MAX DUTCH BIDCO EUR TL B | -0.92% | 98.31 | 99.22 |
| 9 | HARLAND CLARKE TL B7 | -0.82% | 93.95 | 94.72 |
| 10 | COOPER STANDARD TL B | -0.68% | 95.73 | 96.39 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/10/21 – 9/17/21 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 9/10/21 – 9/17/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/10/21 vs. the week ending 9/17/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ASSUREDPARTNERS TL B | 40 | 90 | 50 | 125% |
| 2 | COX ENTERPRISES, INC. TL B | 65 | 104 | 39 | 60% |
| 3 | TRANSDIGM INC. TL G | 72 | 110 | 38 | 53% |
| 4 | ALLIANT HLDGS I INC TL B2 | 72 | 110 | 38 | 53% |
| 5 | CLEAR CHANNEL OUTDOOR TL B | 58 | 95 | 37 | 64% |
| 6 | STATION CASINO TL B | 62 | 98 | 36 | 58% |
| 7 | UPC HOLDING BV TL | 53 | 89 | 36 | 68% |
| 8 | CALPINE CORP TL B9 | 74 | 110 | 36 | 49% |
| 9 | ULTIMATE SOFTWARE TL | 65 | 100 | 35 | 54% |
| 10 | POLYONE TL B | 38 | 72 | 34 | 89% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/10/21 – 9/17/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | VERISURE EUR TL B | 18 |
| 3 | SYNLAB EUR TL B5 | 18 |
| 4 | ZIGGO EUR TL H | 18 |
| 5 | IFCO EUR TL B | 18 |
| 6 | TMF GROUP HOLDING BV EUR TL B | 18 |
| 7 | ELSAN GROUPE EXT EUR TL B | 17 |
| 8 | CERBA HEALTHCARE EUR TL B | 17 |
| 9 | BRAND ENERGY TL | 17 |
| 10 | CHEPLAPHARM ARZNEIMITTEL EUR TL B4 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/10/21 – 9/17/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/10/21 – 9/17/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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