Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 5/15/20

Our weekly 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 5/8/20 – 5/15/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B -0.90% 94.07 94.92 10
2 6,451 REFINITV TL B -0.66% 97.18 97.83 10
3 5,450 ENVISION HEALTHCARE TL B -5.84% 64.32 68.31 16
4 5,000 QWEST CORPORATION TL B -0.24% 93.85 94.08 10
5 4,750 DELL TL B -0.65% 96.87 97.51 15
6 4,750 ZAYO TL -0.66% 93.74 94.36 14
7 4,700 CAESARS RESORT COLLECTION TL 0.50% 85.42 85.00 11
8 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.15% 96.17 96.32 11
9 4,250 BERRY PLASTICS TL Y -0.26% 95.32 95.57 13
10 4,200 JOHNSON CONTROLS INTL PUBLIC LTD CO TL 1.25% 90.19 89.08 11
11 4,197 AKZONOBEL TL B 0.63% 93.28 92.70 11
12 3,861 PETSMART CONSENTED TL B2 -0.49% 96.98 97.46 11
13 3,575 STARS GROUP TL B -0.31% 97.53 97.83 12
14 3,524 TRANSDIGM INC. TL F 0.62% 87.37 86.83 16
15 3,325 CINEWORLD TL B 0.02% 61.20 61.18 14
16 3,300 BMC SOFTWARE TL B 1.81% 90.62 89.00 18
17 3,300 NTL CABLE PLC TL N -0.71% 94.28 94.95 12
18 3,275 SCIENTIFIC GAMES TL B5 1.39% 83.28 82.14 13
19 3,210 HUB INTL LTD TL B -0.18% 93.90 94.07 11
20 3,165 MULTIPLAN TL B 0.31% 92.42 92.13 10
AVERAGE 4,475 -0.23% 89.90 90.06 12.5

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 5/8/20 – 5/15/20

RANK NAME CHANGE PX PX-1W
1 IMAGINA MEDIA AUDIOVISUAL SL 2ND LIEN EUR TL 38.03% 67.31 48.77
2 EPIC CRUDE TL B 10.67% 64.99 58.72
3 NEOVIA TL 9.59% 82.38 75.18
4 INFOGROUP TL 8.91% 78.00 71.62
5 AGROFRESH TL B 8.69% 89.18 82.06
6 SUTHERLAND GLOBAL SVCS INC TL B 7.98% 75.89 70.28
7 CONSOL MINING TL B 7.78% 63.73 59.13
8 FAERCH PLAST GBP TL B 7.73% 87.28 81.02
9 LEARFIELD TL 7.71% 64.67 60.04
10 NEP 2ND LIEN TL 7.32% 66.60 62.06

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/8/20 – 5/15/20

RANK NAME CHANGE PX PX-1W
1 UTEX TL B -19.71% 26.20 32.64
2 PREMIERE GLOBAL TL -16.70% 47.75 57.32
3 ANASTASIA BEVERLY HILLS TL B -11.59% 32.92 37.24
4 JCREW NON-CONSENTED TL B -10.33% 45.70 50.97
5 DOUGLAS HOLDING EUR TL B1 -7.81% 68.61 74.43
6 AMERICAN AIRLINES TL B -6.75% 69.14 74.14
7 ENTRANS TL -6.63% 69.40 74.33
8 ENVISION HEALTHCARE TL B -5.84% 64.32 68.31
9 ULTRA PETROL CORP EXIT TL -4.72% 63.18 66.31
10 STAPLES TL B1 -4.08% 80.54 83.97

Avg Bid PX by Sector

Displays the average loan bid price by sector between 5/8/20 – 5/15/20

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 5/8/20 – 5/15/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 5/8/20 vs. the week ending 5/15/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CALIFORNIA PIZZA TL 17 45 28 165%
2 GRAY TELEVISION TL C 36 58 22 61%
3 WASH LAUNDRY TL 4 26 22 550%
4 IQOR TL B 23 44 21 91%
5 CSC SERVICEWORKS INC TL B 36 57 21 58%
6 GENESEE & WYOMING TL 36 56 20 56%
7 LUCID ENERGY TL B 4 23 19 475%
8 HARGRY TL 24 42 18 75%
9 ENVISION HEALTHCARE TL B 18 36 18 100%
10 BJ’S TL B 50 68 18 36%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 5/8/20 – 5/15/20

RANK TRANCHE DEALERS
1 HERTZ TL 19
2 VERISURE EUR TL B1 19
3 BMC SOFTWARE TL B 18
4 PEAK 10 TL 17
5 ENVISION HEALTHCARE TL B 16
6 AMC ENTERTAINMENT TL B1 16
7 EIRCOM FINCO SARL EUR TL B 16
8 AVIS BUDGET TL B 16
9 TRANSDIGM INC. TL F 16
10 GTT COMMUNICATIONS TL B 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 5/8/20 – 5/15/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 5/8/20 – 5/15/20

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

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