Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 12/31/20

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 12/24/20 – 12/31/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B -0.02% 99.52 99.54 10
2 6,451 REFINITV TL B -0.04% 99.75 99.79 11
3 5,450 ENVISION HEALTHCARE TL B 0.22% 82.97 82.79 16
4 5,100 CHANGE HEALTHCARE TL B 0.16% 99.47 99.31 14
5 5,000 QWEST CORPORATION TL B 0.47% 98.75 98.28 13
6 4,750 ZAYO TL 0.51% 99.29 98.78 18
7 4,750 DELL TL B 0.01% 100.02 100.01 17
8 4,700 CAESARS RESORT COLLECTION TL B 0.51% 98.01 97.52 14
9 4,250 BERRY PLASTICS TL X 0.19% 99.85 99.66 11
10 4,197 AKZONOBEL TL B 0.32% 98.66 98.34 10
11 3,582 MISYS TL B 0.19% 97.73 97.55 13
12 3,575 STARS GROUP TL B 0.05% 100.30 100.25 16
13 3,524 TRANSDIGM INC. TL F -0.03% 97.96 97.99 17
14 3,515 LIFEPOINT HOSPITALS TL B 0.12% 99.67 99.55 15
15 3,415 ENDO HEALTH TL B -0.18% 98.27 98.45 11
16 3,325 CINEWORLD TL B 0.77% 67.64 67.12 12
17 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.12% 99.47 99.35 10
18 3,312 HUB INTL LTD TL B 0.19% 98.14 97.95 16
19 3,300 BMC SOFTWARE TL B -0.08% 99.49 99.56 17
20 3,300 NTL CABLE PLC TL N 0.07% 99.03 98.96 14
AVERAGE 4,473 0.18% 96.70 96.54 13.8

Top 20 Winners

Showcases the top 20 loan “winners” based on the largest bid price increases between 12/24/20 – 12/31/20

RANK NAME CHANGE PX PX-1W
1 DONCASTERS PIK TL 15.47% 40.42 35.00
2 GLASS MOUNTAIN PIPELINE TL B 15.40% 50.98 44.18
3 LIGADO NETWORKS TL B 4.44% 95.63 91.57
4 CONDUENT BUSINESS SERVICES TL A 4.36% 96.23 92.21
5 DAYCO TL B 4.28% 76.55 73.41
6 MITEL NETWORKS TL 4.18% 90.11 86.49
7 MEDICAL DEPOT TL B 3.66% 83.39 80.45
8 RCS CAPITAL 2ND LIEN TL 3.46% 92.58 89.48
9 SOLENIS 2ND LIEN TL 3.10% 99.59 96.59
10 CVENT TL B 1.57% 82.19 80.92
11 STRIKE TL B 2.38% 78.61 76.78
12 AVISON YOUNG TL 2.14% 95.21 93.21
13 RADIO ONE TL B 2.08% 93.14 91.24
14 CUMULUS MEDIA TL 1.98% 98.06 96.16
15 WOODFORD EXPRESS TL B 1.93% 73.90 72.50
16 FLY LEASING TL 1.84% 94.50 92.79
17 CITGO HOLDING TL 1.76% 93.10 91.49
18 KINDERCARE LEARNING CENTER 2ND LIEN TL 1.74% 94.76 93.14
19 SIRVA WORLDWIDE TL 1.65% 89.24 87.79
20 RODAN & FIELDS TL B 1.57% 82.19 80.92

Avg Bid PX by Sector

Displays the average loan bid price by sector between 12/24/20 – 12/31/20

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 12/24/20 – 12/31/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 12/24/20 vs. the week ending 12/31/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 COMMERCIAL VEHICLE GROUP TL B 0 14 14 N/A
2 CENGAGE TL 16 28 12 75%
3 AMC ENTERTAINMENT TL B1 22 34 12 55%
4 MCGRAW-HILL GLOBAL TL 18 30 12 67%
5 PYXUS INTERNATIONAL EXIT TL 0 12 12 0%
6 SINCLAIR BROADCAST GROUP INC. TL B 8 18 10 125%
7 K&N TL 14 24 10 71%
8 EW SCRIPPS TL B 24 34 10 42%
9 HOLLEY PURCHASER TL 0 10 10 0%
10 ASURION TL B8 24 34 10 42%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 12/24/20 – 12/31/20

RANK TRANCHE DEALERS
1 ZIGGO EUR TL H 19
2 EIRCOM FINCO SARL EUR TL B 19
3 ZAYO TL 18
4 BRAND ENERGY TL 18
5 AMC ENTERTAINMENT TL B1 18
6 TELENET EUR TL 18
7 CAMPING WORLD TL B 18
8 VERISURE EUR TL B 17
9 SOLARWINDS TL 17
10 GTT COMMUNICATIONS TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 12/24/20 – 12/31/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 12/24/20 – 12/31/20

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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