Syndicated Bank Loan Market Summary – Week Ending 9/24/21
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Syndicated Bank Loan Market Summary: Week Ending 9/24/21
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 9/17/21 – 9/24/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.55% | 88.92 | 89.42 | 13 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.01% | 99.89 | 99.88 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | N/A | 98.86 | 98.86 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | -0.12% | 100.64 | 100.76 | 13 |
| 5 | 4,750 | ZAYO TL | -0.14% | 99.04 | 99.18 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.03% | 99.38 | 99.42 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | -0.06% | 99.76 | 99.82 | 13 |
| 8 | 3,900 | DIRECTV TL | -0.08% | 100.12 | 100.19 | 13 |
| 9 | 3,582 | MISYS TL B | -0.03% | 99.08 | 99.11 | 15 |
| 10 | 3,524 | TRANSDIGM INC. TL F | -0.07% | 98.65 | 98.72 | 13 |
| 11 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.03% | 99.71 | 99.75 | 14 |
| 12 | 3,380 | SOLERA TL B | -0.06% | 100.15 | 100.22 | 15 |
| 13 | 3,338 | ASURION TL B6 | 0.03% | 99.32 | 99.29 | 10 |
| 14 | 3,325 | CINEWORLD TL B | 0.75% | 79.54 | 78.94 | 10 |
| 15 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | N/A | 99.84 | 99.84 | 10 |
| 16 | 3,312 | HUB INTL LTD TL B | -0.09% | 99.00 | 99.08 | 13 |
| 17 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | -0.89% | 61.26 | 61.81 | 10 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.01% | 99.25 | 99.24 | 11 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | N/A | 99.27 | 99.27 | 11 |
| 20 | 3,100 | ASURION TL B8 | 0.04% | 98.33 | 98.29 | 10 |
| AVERAGE | 3,937 | -0.07% | 96.00 | 96.05 | 12.2 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 9/17/21 – 9/24/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GLOBAL TELESYSTEMS 2ND LIEN TL | 3.60% | 91.98 | 88.79 |
| 2 | PEABODY ENERGY TL B | 3.53% | 78.37 | 75.70 |
| 3 | LIGHTSTONE GENERATION LLC TL C | 3.09% | 79.38 | 77.00 |
| 4 | SUNSOURCE 2ND LIEN TL | 2.81% | 97.48 | 94.82 |
| 5 | COTY TL B | 2.06% | 97.93 | 95.95 |
| 6 | CARECENTRIX TL B | 1.88% | 92.94 | 91.22 |
| 7 | ANASTASIA BEVERLY HILLS TL B | 1.74% | 83.97 | 82.53 |
| 8 | BELK EXIT SO TL | 1.61% | 76.93 | 75.71 |
| 9 | PREIT ASSOCIATES EXIT 2ND LIEN TL | 1.42% | 56.91 | 56.11 |
| 10 | SECURUS 2ND LIEN TL | 1.41% | 91.57 | 90.30 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/17/21 – 9/24/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GTT COMMUNICATIONS EUR TL B | -9.06% | 82.06 | 90.23 |
| 2 | YAK MAT TL B | -5.84% | 79.23 | 84.15 |
| 3 | SIGMA BIDCO PLN TL B3 | -4.29% | 92.94 | 97.11 |
| 4 | RIVERBED PIK 2ND LIEN TL | -4.09% | 69.61 | 72.58 |
| 5 | ALSTOM SA EUR TL B | -3.02% | 78.91 | 81.37 |
| 6 | JORDAN HEALTH TL | -1.58% | 88.02 | 89.43 |
| 7 | AMEX GBT TL B | -1.12% | 90.21 | 91.23 |
| 8 | MALLINCKRODT TL B | -1.07% | 95.85 | 96.88 |
| 9 | GEO GROUP TL B | -1.03% | 92.33 | 93.29 |
| 10 | TELESAT TL B | -0.97% | 90.93 | 91.82 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/17/21 – 9/24/21 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 9/17/21 – 9/24/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/17/21 vs. the week ending 9/24/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HERENS HOLDCO SARL TL B | 6 | 72 | 66 | 1100% |
| 2 | ACETOW GMBH EUR TL | 26 | 49 | 23 | 88% |
| 3 | US TELEPACIFIC TL B | 71 | 92 | 21 | 30% |
| 4 | COLE HAAN TL B1 | 18 | 39 | 21 | 117% |
| 5 | SOTHEBYS TL B | 10 | 30 | 20 | 200% |
| 6 | CASINO GUICHARD EUR TL B | 25 | 44 | 19 | 76% |
| 7 | TELENET EUR TL | 51 | 69 | 18 | 35% |
| 8 | WINDSTREAM SERVICES LLC TL A4 | 26 | 42 | 16 | 62% |
| 9 | 84 LUMBER CO TL | 20 | 36 | 16 | 80% |
| 10 | UPC HOLDING BV EUR TL | 25 | 40 | 15 | 60% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/17/21 – 9/24/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | VERISURE EUR TL B | 18 |
| 3 | ZIGGO EUR TL H | 18 |
| 4 | IFCO EUR TL B | 18 |
| 5 | TMF GROUP HOLDING BV EUR TL B | 18 |
| 6 | SYNLAB EUR TL B5 | 17 |
| 7 | CERBA HEALTHCARE EUR TL B | 17 |
| 8 | BRAND ENERGY TL | 17 |
| 9 | TECHEM EUR TL B4 | 17 |
| 10 | FRONERI EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/17/21 – 9/24/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/17/21 – 9/24/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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