Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 3/19/21

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 3/12/21 – 3/19/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B 0.39% 86.00 85.67 16
2 5,100 CHANGE HEALTHCARE TL B -0.22% 99.82 100.04 12
3 5,000 QWEST CORPORATION TL B -0.75% 98.55 99.30 11
4 4,750 ZAYO TL -0.34% 99.15 99.49 17
5 4,700 CAESARS RESORT COLLECTION TL B -0.58% 98.15 98.72 14
6 4,581 VALUE-BASED TL B -0.14% 100.09 100.24 10
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.11% 99.74 99.85 13
8 4,475 UNIVISION TL C5 -0.54% 99.24 99.78 12
9 4,197 AKZONOBEL TL B -0.45% 98.80 99.25 11
10 3,582 MISYS TL B -0.42% 97.91 98.33 15
11 3,575 STARS GROUP TL B -0.07% 100.21 100.28 15
12 3,524 TRANSDIGM INC. TL F -0.29% 98.25 98.54 14
13 3,515 LIFEPOINT HOSPITALS TL B -0.24% 99.68 99.92 13
14 3,500 AMERICAN AIRLINES TL B 0.49% 102.52 102.02 10
15 3,338 ASURION TL B6 -0.08% 99.78 99.85 10
16 3,325 CINEWORLD TL B 0.37% 85.03 84.72 14
17 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.00% 99.75 99.75 10
18 3,312 HUB INTL LTD TL B -0.14% 98.67 98.81 18
19 3,300 SINCLAIR BROADCAST GROUP INC. TL B 3.01% 71.95 69.85 12
20 3,300 NTL CABLE PLC TL N -0.34% 98.85 99.20 14
AVERAGE 4,020 -0.02% 96.61 96.68 13.1

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 3/12/21 – 3/19/21

RANK NAME CHANGE PX PX-1W
1 FIELDWOOD ENERGY TL 15.58% 35.06 30.33
2 SUNSOURCE 2ND LIEN TL 8.53% 90.45 83.34
3 ISAGENIX TL 6.93% 74.34 69.52
4 EXELA TL B 6.66% 38.03 35.66
5 JC PENNEY EXIT TL 4.39% 93.05 89.14
6 BIOPLAN TL 3.80% 83.51 80.45
7 GULF FINANCE TL 3.68% 79.73 76.90
8 CHECKERS TL 3.45% 93.28 90.17
9 ANCHOR GLASS TL B 3.42% 87.93 85.02
10 SINCLAIR BROADCAST GROUP INC. TL B 3.01% 71.95 69.85

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 3/12/21 – 3/19/21

RANK NAME CHANGE PX PX-1W
1 PEABODY ENERGY TL B -6.00% 37.41 39.80
2 IMAGINA MEDIA AUDIOVISUAL SL 2ND LIEN EUR TL -4.53% 78.72 82.46
3 GENUINE FINANCIAL TL -3.24% 95.61 98.81
4 MITEL NETWORKS TL -1.96% 89.56 91.35
5 TELESAT TL B -1.50% 96.63 98.10
6 SIRVA WORLDWIDE TL -1.14% 92.09 93.16
7 WEST CORP TL B -1.09% 97.16 98.23
8 RENTPATH TL -1.09% 88.19 89.16
9 COLORADO BUYER TL -1.04% 96.03 97.05
10 EXACTECH TL B -0.92% 96.58 97.48

Avg Bid PX by Sector

Displays the average loan bid price by sector between 3/12/21 – 3/19/21

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 3/12/21 – 3/19/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 3/12/21 vs. the week ending 3/19/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 HUB INTL LTD TL B 80 118 38 48%
2 RCN GRANDE TL B 64 101 37 58%
3 HILLMAN GROUP TL B 0 34 34 NA
4 DELL TL B 47 79 32 68%
5 REALPAGE TL B 34 66 32 94%
6 NASCAR TL B 44 76 32 73%
7 SEDGWICK TL B2 40 70 30 75%
8 DAE AVIATION TL 50 80 30 60%
9 AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B 20 50 30 150%
10 ARISTOCRAT TL B 24 54 30 125%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 3/12/21 – 3/19/21

RANK TRANCHE DEALERS
1 BIOGROUP DD EUR TL B 19
2 TELENET EUR TL 19
3 SIGMA BIDCO EUR TL B1 19
4 BANIJAY GROUP EUR TL B 18
5 LUMILEDS TL B 18
6 SYNLAB EUR TL B5 18
7 ELSAN GROUPE EUR TL B 18
8 HUB INTL LTD TL B 18
9 CEVA SANTE ANIMALE EUR TL B 18
10 TECHEM EUR TL B4 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 3/12/21 – 3/19/21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 3/12/21 – 3/19/21

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

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