Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 8/13/21
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 8/6/21 – 8/13/21
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 0.59% | 86.07 | 85.57 | 14 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.02% | 99.71 | 99.68 | 12 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.27% | 98.55 | 98.28 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.07% | 99.93 | 99.86 | 14 |
| 5 | 4,750 | ZAYO TL | 0.10% | 98.42 | 98.32 | 14 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.01% | 98.75 | 98.74 | 14 |
| 7 | 4,565 | BAUSCH HEALTH COMPANIES INC. TL B | 0.19% | 99.41 | 99.22 | 12 |
| 8 | 4,197 | AKZONOBEL TL B | 0.07% | 98.67 | 98.60 | 10 |
| 9 | 3,972 | POWER SOLUTIONS TL B | -0.11% | 98.86 | 98.97 | 10 |
| 10 | 3,900 | DIRECTV TL | -0.07% | 99.63 | 99.70 | 13 |
| 11 | 3,582 | MISYS TL B | 0.07% | 98.60 | 98.53 | 15 |
| 12 | 3,575 | STARS GROUP TL B | -0.07% | 99.58 | 99.65 | 10 |
| 13 | 3,524 | TRANSDIGM INC. TL F | 0.11% | 98.13 | 98.02 | 14 |
| 14 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.04% | 99.08 | 99.05 | 14 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.13% | 102.42 | 102.28 | 11 |
| 16 | 3,380 | SOLERA TL B | 0.13% | 99.91 | 99.78 | 14 |
| 17 | 3,338 | ASURION TL B6 | -0.03% | 98.73 | 98.75 | 11 |
| 18 | 3,325 | CINEWORLD TL B | -0.12% | 78.67 | 78.77 | 13 |
| 19 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | -0.07% | 99.45 | 99.51 | 10 |
| 20 | 3,312 | HUB INTL LTD TL B | 0.08% | 98.51 | 98.43 | 15 |
| AVERAGE | 4,050 | 0.07% | 97.55 | 97.49 | 12.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/6/21 – 8/13/21
| RANK | NAME | CHANGE | PX | PX-1W |
| 1 | STEINHOFF EUROPE TL B2 | 6.51% | 79.97 | 75.08 |
| 2 | PREIT ASSOCIATES EXIT 2ND LIEN TL | 4.27% | 53.70 | 51.50 |
| 3 | TELESAT TL B | 3.58% | 93.02 | 89.80 |
| 4 | EXELA TL B | 3.56% | 73.47 | 70.95 |
| 5 | PSC 2ND LIEN TL | 3.40% | 99.44 | 96.18 |
| 6 | ARRAY TECHNOLOGIES TL B | 2.13% | 98.93 | 96.86 |
| 7 | CONTURA ENERGY INC TL | 2.09% | 95.46 | 93.51 |
| 8 | ANASTASIA BEVERLY HILLS TL B | 1.72% | 79.50 | 78.16 |
| 9 | CINEWORLD EUR TL B | 1.69% | 80.20 | 78.87 |
| 10 | EASTERN POWER TL B | 1.45% | 89.67 | 88.39 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/6/21 – 8/13/21
| RANK | NAME | CHANGE | PX | PX-1W |
| 1 | RODAN & FIELDS TL B | -5.02% | 74.85 | 78.80 |
| 2 | RIEMSER EUR TL B | -3.43% | 95.49 | 98.87 |
| 3 | NATIONAL CINEMEDIA TL B | -2.52% | 88.59 | 90.89 |
| 4 | FEMUR BUYER TL | -1.31% | 94.49 | 95.74 |
| 5 | GULF FINANCE TL | -1.23% | 81.17 | 82.18 |
| 6 | STRATEGIC MATERIALS TL | -1.21% | 88.08 | 89.17 |
| 7 | PGS TL B | -0.89% | 91.18 | 92.00 |
| 8 | VERITAS US INC TL B | -0.76% | 99.85 | 100.61 |
| 9 | ACCURIDE TL B | -0.72% | 94.81 | 95.50 |
| 10 | TRADESMEN TL | -0.53% | 83.47 | 83.91 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/6/21 – 8/13/21
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 8/6/21 – 8/13/21
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/6/21 vs. the week ending 8/13/21
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | MACDERMID TL B | 22 | 72 | 50 | 227% |
| 2 | CHARTER NEX TL B | 46 | 82 | 36 | 78% |
| 3 | BELRON INTERNATIONAL TL B | 8 | 42 | 34 | 425% |
| 4 | MITEL NETWORKS TL | 61 | 86 | 25 | 41% |
| 5 | STAGE ENTERTAINMENT EUR TL B | 10 | 34 | 24 | 240% |
| 6 | COOLSYS TL B | 6 | 30 | 24 | 400% |
| 7 | HERA EUR TL B | 26 | 48 | 22 | 85% |
| 8 | PILOT TRAVEL TL B | 29 | 51 | 22 | 76% |
| 9 | ETON TL | 4 | 25 | 21 | 525% |
| 10 | REALPAGE TL B | 78 | 98 | 20 | 26% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/6/21 – 8/13/21
| RANK | TRANCHE | DEALERS |
| 1 | LUMILEDS TL B | 22 |
| 2 | SYNLAB EUR TL B5 | 19 |
| 3 | ZIGGO EUR TL H | 19 |
| 4 | ELSAN GROUPE EXT EUR TL B | 18 |
| 5 | DORNA SPORTS EUR TL B | 18 |
| 6 | IFCO EUR TL B | 18 |
| 7 | BANIJAY GROUP EUR TL B | 18 |
| 8 | VERISURE EUR TL B | 17 |
| 9 | CALPINE CORP TL B5 | 17 |
| 10 | AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/6/21 – 8/13/21
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/6/21 – 8/13/21
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
