Syndicated Bank Loan Market Summary – Week Ending 9/3/21
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Syndicated Bank Loan Market Summary: Week Ending 9/3/21
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 8/27/21 – 9/3/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | -0.46% | 87.37 | 87.78 | 15 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.13% | 99.88 | 99.75 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.21% | 98.86 | 98.65 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.16% | 100.30 | 100.14 | 14 |
| 5 | 4,750 | ZAYO TL | 0.44% | 98.93 | 98.50 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.08% | 99.19 | 99.10 | 15 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.02% | 99.62 | 99.61 | 13 |
| 8 | 3,972 | POWER SOLUTIONS TL B | -0.03% | 98.80 | 98.84 | 10 |
| 9 | 3,900 | DIRECTV TL | 0.23% | 100.17 | 99.94 | 12 |
| 10 | 3,582 | MISYS TL B | 0.13% | 98.87 | 98.74 | 15 |
| 11 | 3,524 | TRANSDIGM INC. TL F | -0.09% | 98.31 | 98.40 | 13 |
| 12 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.27% | 99.46 | 99.19 | 14 |
| 13 | 3,380 | SOLERA TL B | 0.08% | 100.01 | 99.93 | 15 |
| 14 | 3,338 | ASURION TL B6 | 0.26% | 99.12 | 98.86 | 11 |
| 15 | 3,325 | CINEWORLD TL B | -0.58% | 77.18 | 77.63 | 11 |
| 16 | 3,312 | HUB INTL LTD TL B | 0.09% | 98.93 | 98.84 | 15 |
| 17 | 3,300 | SINCLAIR BROADCAST GROUP INC. TL B | 8.39% | 63.78 | 58.84 | 11 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.15% | 99.07 | 98.92 | 11 |
| 19 | 3,275 | SCIENTIFIC GAMES TL B5 | 0.10% | 99.16 | 99.06 | 13 |
| 20 | 3,165 | MULTIPLAN TL B | -0.39% | 99.23 | 99.62 | 13 |
| AVERAGE | 3,973 | 0.46% | 95.81 | 95.52 | 12.9 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/27/21 – 9/3/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | GTT COMMUNICATIONS TL B | 11.65% | 87.61 | 78.47 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B | 8.39% | 63.78 | 58.84 |
| 3 | SERVICE KING TL B | 2.60% | 96.06 | 93.62 |
| 4 | EXELA TL B | 2.37% | 74.80 | 73.07 |
| 5 | ANASTASIA BEVERLY HILLS TL B | 1.63% | 81.05 | 79.74 |
| 6 | AREAS EUR TL B1 | 1.63% | 89.03 | 87.60 |
| 7 | ELECTRONICS FOR IMAGING 2ND LIEN TL | 1.61% | 83.86 | 82.53 |
| 8 | AMERICAN AIRLINES TL B | 1.48% | 94.07 | 92.70 |
| 9 | AUDIO VISUAL 2ND LIEN TL | 1.47% | 74.94 | 73.85 |
| 10 | LUMILEDS TL B | 1.27% | 80.31 | 79.30 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/27/21 – 9/3/21
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CINEWORLD EUR TL B | -3.04% | 78.85 | 81.32 |
| 2 | VUE INTERNATIONAL BIDCO PLC EUR TL B | -2.12% | 90.50 | 92.46 |
| 3 | GOODPACK 2ND LIEN TL B1 | -1.83% | 95.57 | 97.35 |
| 4 | BROWN JORDAN INTERNATIONAL TL B | -1.30% | 92.33 | 93.55 |
| 5 | US TELEPACIFIC TL B | -0.99% | 89.07 | 89.96 |
| 6 | ENDO HEALTH TL B | -0.93% | 96.53 | 97.43 |
| 7 | CLARION EVENTS GBP TL | -0.80% | 93.18 | 93.93 |
| 8 | CORRECT CARE TL B | -0.62% | 97.54 | 98.15 |
| 9 | NUMERICABLE EUR TL B12 | -0.43% | 98.07 | 98.50 |
| 10 | PROOFPOINT 2ND LIEN TL | -0.42% | 101.08 | 101.51 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/27/21 – 9/3/21 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 8/27/21 – 9/3/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/27/21 vs. the week ending 9/3/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | EPICOR SOFTWARE 2ND LIEN TL | 30 | 57 | 27 | 90% |
| 2 | COLORADO BUYER TL | 25 | 49 | 24 | 96% |
| 3 | TEMPO ACQUISITION TL B | 34 | 58 | 24 | 71% |
| 4 | REALPAGE TL B | 82 | 105 | 23 | 28% |
| 5 | KNOWLTON PACKAGING INC TL | 24 | 46 | 22 | 92% |
| 6 | INFORMATICA 2ND LIEN TL | 18 | 39 | 21 | 117% |
| 7 | APPLIED SYSTEMS 2ND LIEN TL | 36 | 57 | 21 | 58% |
| 8 | ROCKET SOFTWARE TL | 75 | 96 | 21 | 28% |
| 9 | ULTIMATE SOFTWARE 2ND LIEN TL | 20 | 41 | 21 | 105% |
| 10 | UFC TL B | 76 | 96 | 20 | 26% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/27/21 – 9/3/21
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | LUMILEDS TL B | 19 |
| 2 | ELSAN GROUPE EXT EUR TL B | 18 |
| 3 | SYNLAB EUR TL B5 | 18 |
| 4 | CHEPLAPHARM ARZNEIMITTEL EUR TL B4 | 18 |
| 5 | VERISURE EUR TL B | 18 |
| 6 | RACKSPACE HOSTING TL B | 17 |
| 7 | MITEL NETWORKS TL | 17 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 9 | ZIGGO EUR TL H | 17 |
| 10 | IFCO EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/27/21 – 9/3/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/27/21 – 9/3/21 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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