Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 2/12/21

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 2/5/21 – 2/12/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B -0.96% 98.46 99.41 10
2 5,450 ENVISION HEALTHCARE TL B 0.71% 85.03 84.43 15
3 5,100 CHANGE HEALTHCARE TL B 0.05% 100.17 100.12 10
4 5,000 QWEST CORPORATION TL B -0.10% 99.68 99.78 11
5 4,750 ZAYO TL 0.05% 99.89 99.85 15
6 4,750 DELL TL B -0.27% 100.15 100.42 15
7 4,700 CAESARS RESORT COLLECTION TL B 0.15% 98.71 98.57 14
8 4,250 BERRY PLASTICS TL Y 0.04% 100.06 100.03 14
9 3,582 MISYS TL B 0.28% 99.01 98.73 14
10 3,575 STARS GROUP TL B 0.04% 100.31 100.27 15
11 3,524 TRANSDIGM INC. TL F 0.25% 98.54 98.29 14
12 3,515 LIFEPOINT HOSPITALS TL B 0.01% 100.16 100.14 12
13 3,325 CINEWORLD TL B -0.45% 79.90 80.26 13
14 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.03% 99.98 99.95 10
15 3,312 HUB INTL LTD TL B -0.14% 99.09 99.22 16
16 3,300 NTL CABLE PLC TL N 0.20% 99.71 99.50 14
17 3,300 BMC SOFTWARE TL B -0.03% 100.07 100.10 16
18 3,300 SINCLAIR BROADCAST GROUP INC. TL B -0.12% 84.41 84.51 10
19 3,275 SCIENTIFIC GAMES TL B5 0.02% 98.89 98.86 10
20 3,165 MULTIPLAN TL B 0.05% 99.92 99.88 12
AVERAGE 4,257 -0.01% 97.11 97.12 13.0

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 2/5/21 – 2/12/21

RANK NAME CHANGE PX PX-1W
1 LUMILEDS TL B 17.46% 69.06 58.80
2 NBG HOME TL 12.75% 89.00 78.93
3 CATALINA MARKETING EXIT PIK TL 5.15% 35.00 33.29
4 AUGUSTA SPORTSWEAR TL 3.87% 93.84 90.35
5 FLAKT WOODS EUR TL B 3.78% 91.78 88.44
6 VACALIANS EUR TL B 3.50% 89.70 86.67
7 CRESTWOOD MIDSTREAM TL B 3.24% 86.71 83.98
8 BROWN JORDAN INTERNATIONAL TL B 2.75% 81.55 79.37
9 COLOUR BIDCO GBP TL 2.70% 88.95 86.61
10 COLORADO BUYER 2ND LIEN TL 2.58% 87.72 85.51

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 2/5/21 – 2/12/21

RANK NAME CHANGE PX PX-1W
1 ARRAY CANADA TL B -9.51% 61.43 67.88
2 JILL PIK TL -4.34% 65.25 68.21
3 PEABODY ENERGY TL B -4.18% 46.13 48.15
4 LIGHTSTONE GENERATION LLC TL C -1.65% 87.53 89.00
5 AMC ENTERTAINMENT TL B1 -1.38% 79.71 80.83
6 PGS TL B -1.35% 78.89 79.97
7 LANNET TL B -1.03% 95.02 96.01
8 RODAN & FIELDS TL B -0.88% 86.53 87.29
9 MICRO FOCUS TL B3 -0.57% 98.57 99.13
10 EXCELITAS TECHNOLOGIES TL B -0.49% 99.29 99.78

Avg Bid PX by Sector

Displays the average loan bid price by sector between 2/5/21 – 2/12/21

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 2/5/21 – 2/12/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 2/5/21 vs. the week ending 2/12/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 AMER SPORTS EUR TL B 3 41 38 1267%
2 NTL CABLE PLC EUR TL O 31 66 35 113%
3 NTL CABLE PLC EUR TL R 20 52 32 160%
4 UNILABS EUR TL B2 10 40 30 300%
5 HOWDEN TL B 10 40 30 300%
6 NTL CABLE PLC GBP TL L 12 40 28 233%
7 NTL CABLE PLC GBP TL M 12 40 28 233%
8 PARQUES REUNIDOS SA EUR TL B 16 44 28 175%
9 FOUNDATION BUILDING TL 2 29 27 1350%
10 LIGHTSTONE GENERATION LLC TL B 20 45 25 125%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 2/5/21 – 2/12/21

RANK TRANCHE DEALERS
1 TELENET EUR TL 20
2 GTT COMMUNICATIONS TL B 18
3 CEVA SANTE ANIMALE EUR TL B 18
4 ZIGGO EUR TL H 18
5 TECHEM EUR TL B4 18
6 LUMILEDS TL B 18
7 NUMERICABLE EUR TL B12 18
8 ELSAN GROUPE EUR TL B 18
9 SYNLAB EUR TL B 18
10 EIRCOM FINCO SARL EUR TL B 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 2/5/21 – 2/12/21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 2/5/21 – 2/12/21

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

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