Syndicated Bank Loan Market Summary – Week Ending 8/14/20
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Syndicated Bank Loan Market Summary: Week Ending 8/14/20
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 8/7/20 – 8/14/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 1.25% | 67.06 | 66.23 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.14% | 98.31 | 98.18 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -0.03% | 97.05 | 97.08 | 10 |
| 4 | 4,750 | ZAYO TL | 0.06% | 97.56 | 97.50 | 12 |
| 5 | 4,750 | DELL TL B | 0.07% | 99.13 | 99.06 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL | 0.68% | 93.23 | 92.60 | 10 |
| 7 | 4,250 | BERRY PLASTICS TL Y | 0.69% | 97.82 | 97.15 | 14 |
| 8 | 4,197 | AKZONOBEL TL B | -0.05% | 97.16 | 97.21 | 10 |
| 9 | 4,000 | T-MOBILE USA TL B | -0.07% | 100.31 | 100.38 | 15 |
| 10 | 3,582 | MISYS TL B | 1.41% | 94.53 | 93.22 | 12 |
| 11 | 3,575 | STARS GROUP TL B | 0.15% | 100.10 | 99.95 | 11 |
| 12 | 3,524 | TRANSDIGM INC. TL F | 1.05% | 95.17 | 94.18 | 14 |
| 13 | 3,325 | CINEWORLD TL B | 7.48% | 69.18 | 64.37 | 12 |
| 14 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.21% | 98.83 | 98.62 | 11 |
| 15 | 3,312 | HUB INTL LTD TL B | 0.15% | 97.48 | 97.33 | 11 |
| 16 | 3,300 | NTL CABLE PLC TL N | 0.16% | 97.60 | 97.45 | 11 |
| 17 | 3,300 | BMC SOFTWARE TL B | 1.02% | 97.81 | 96.82 | 15 |
| 18 | 3,275 | SCIENTIFIC GAMES TL B5 | 1.74% | 92.93 | 91.34 | 12 |
| 19 | 3,165 | MULTIPLAN TL B | 0.22% | 98.93 | 98.72 | 10 |
| 20 | 3,161 | JAGUAR HOLDING CO I TL | 0.01% | 99.86 | 99.85 | 14 |
| AVERAGE | 3,952 | 0.82% | 94.50 | 93.86 | 12.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/7/20 – 8/14/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | PURESTAR TL | 14.46% | 59.98 | 52.41 |
| 2 | AT HOME STORES TL B | 14.13% | 96.98 | 84.98 |
| 3 | KINDERCARE LEARNING CENTER 2ND LIEN TL | 12.11% | 88.44 | 78.88 |
| 4 | NAVICO TL B | 10.74% | 72.61 | 65.57 |
| 5 | RENTPATH TL | 10.23% | 77.16 | 70.00 |
| 6 | PARTY CITY TL B | 9.44% | 65.27 | 59.64 |
| 7 | SIRVA WORLDWIDE TL | 7.75% | 78.60 | 72.95 |
| 8 | WESTJET TL | 7.33% | 79.23 | 73.82 |
| 9 | VACALIANS EUR TL B | 6.52% | 79.36 | 74.50 |
| 10 | DOUGLAS HOLDING EUR TL B8 | 4.89% | 83.70 | 79.80 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/7/20 – 8/14/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | MCS TL B | -6.42% | 43.99 | 47.00 |
| 2 | TNT CRANE TL | -5.62% | 66.58 | 70.54 |
| 3 | PEABODY ENERGY TL B | -4.46% | 48.58 | 50.84 |
| 4 | COLUMBUS CAPITAL EUR TL B | -4.33% | 75.19 | 78.59 |
| 5 | MALLINCKRODT EXT TL B | -2.72% | 83.54 | 85.87 |
| 6 | IQOR TL B | -2.39% | 64.89 | 66.48 |
| 7 | JCREW NON-CONSENTED TL B | -2.33% | 47.18 | 48.31 |
| 8 | VARSITY BRANDS TL | -1.58% | 78.88 | 80.15 |
| 9 | CLARION EVENTS GBP TL | -1.58% | 76.90 | 78.13 |
| 10 | RIVERBED TL B | -1.57% | 89.05 | 90.47 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/7/20 – 8/14/20 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 8/7/20 – 8/14/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/7/20 vs. the week ending 8/14/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | INTERNET BRANDS TL | 0 | 23 | 23 | N/A |
| 2 | LUMMUS TECHNOLOGY TL B | 0 | 23 | 23 | N/A |
| 3 | HILTON TL B | 50 | 70 | 20 | 40% |
| 4 | SS&C TECH TL B4 | 22 | 42 | 20 | 91% |
| 5 | THE NIELSEN COMPANY B.V. TL B4 | 70 | 88 | 18 | 26% |
| 6 | OBERTHUR TECHNOLOGIES SA TL B1 | 34 | 52 | 18 | 53% |
| 7 | COMPREHENSIVE EYECARE PARTNERS TL | 30 | 48 | 18 | 60% |
| 8 | ASURION TL B6 | 46 | 62 | 16 | 35% |
| 9 | EPICOR SOFTWARE TL B | 38 | 54 | 16 | 42% |
| 10 | SS&C TECH TL B5 | 24 | 40 | 16 | 67% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/7/20 – 8/14/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 18 |
| 2 | AKZONOBEL EUR TL B | 16 |
| 3 | VERISURE EUR TL B | 16 |
| 4 | GTT COMMUNICATIONS TL B | 16 |
| 5 | IFCO EUR TL B | 16 |
| 6 | EIRCOM FINCO SARL EUR TL B | 16 |
| 7 | TECHEM EUR TL B | 16 |
| 8 | ENVISION HEALTHCARE TL B | 16 |
| 9 | TELENET EUR TL A | 16 |
| 10 | BRAND ENERGY TL | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/7/20 – 8/14/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/7/20 – 8/14/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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