Syndicated Bank Loan Market Summary – Week Ending 8/28/20
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Syndicated Bank Loan Market Summary: Week Ending 8/28/20
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 8/21/20 – 8/28/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 2.35% | 72.15 | 70.49 | 16 |
| 2 | 5,100 | CHANGE HEALTHCARE TL B | 0.17% | 98.09 | 97.93 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | 0.33% | 96.44 | 96.12 | 11 |
| 4 | 4,750 | ZAYO TL | 0.52% | 96.99 | 96.48 | 13 |
| 5 | 4,750 | DELL TL B | 0.14% | 99.07 | 98.93 | 15 |
| 6 | 4,700 | CAESARS RESORT COLLECTION TL | 0.58% | 93.65 | 93.11 | 10 |
| 7 | 4,250 | BERRY PLASTICS TL X | -0.18% | 98.33 | 98.51 | 10 |
| 8 | 4,250 | BERRY PLASTICS TL Y | -0.28% | 96.78 | 97.06 | 14 |
| 9 | 4,197 | AKZONOBEL TL B | 0.04% | 96.65 | 96.61 | 10 |
| 10 | 4,000 | T-MOBILE USA TL B | 0.14% | 100.13 | 99.98 | 15 |
| 11 | 3,861 | PETSMART CONSENTED TL B2 | 0.12% | 99.86 | 99.73 | 10 |
| 12 | 3,582 | MISYS TL B | -0.61% | 93.96 | 94.53 | 12 |
| 13 | 3,575 | STARS GROUP TL B | 0.00% | 99.97 | 99.97 | 13 |
| 14 | 3,524 | TRANSDIGM INC. TL F | 0.06% | 94.70 | 94.65 | 14 |
| 15 | 3,325 | CINEWORLD TL B | 7.34% | 75.37 | 70.22 | 12 |
| 16 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.20% | 98.50 | 98.30 | 10 |
| 17 | 3,312 | HUB INTL LTD TL B | -0.04% | 97.11 | 97.15 | 11 |
| 18 | 3,300 | BMC SOFTWARE TL B | -0.19% | 97.87 | 98.05 | 15 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.25% | 96.93 | 97.17 | 11 |
| 20 | 3,275 | SCIENTIFIC GAMES TL B5 | -0.03% | 93.22 | 93.25 | 12 |
| AVERAGE | 4,041 | 0.52% | 94.79 | 94.41 | 12.3 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/21/20 – 8/28/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | K&N TL | 9.84% | 82.21 | 74.84 |
| 2 | COLORADO BUYER 2ND LIEN TL | 6.67% | 38.49 | 36.09 |
| 3 | SERTA SIMMONS TL | 6.22% | 78.72 | 74.11 |
| 4 | GATEWAY CASINOS TL B | 5.09% | 84.49 | 80.40 |
| 5 | NN INC TL | 4.90% | 98.00 | 93.43 |
| 6 | GO WIRELESS TL | 4.77% | 92.34 | 88.14 |
| 7 | HORNBLOWER TL | 4.37% | 84.13 | 80.61 |
| 8 | AMERICAN ENERGY MARCELLUS EXIT TL | 4.20% | 96.10 | 92.23 |
| 9 | INVICTUS 2ND LIEN TL | 3.26% | 82.63 | 80.03 |
| 10 | INNOVATIVE WATER TL | 3.05% | 80.79 | 78.40 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/21/20 – 8/28/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CIBT HOLDINGS TL | -10.76% | 62.16 | 69.65 |
| 2 | GARRETT MOTION EUR TL B | -3.98% | 90.60 | 94.36 |
| 3 | AMERICAN AXLE & MANUFACTURING TL | -3.51% | 90.22 | 93.51 |
| 4 | AREAS EUR TL B1 | -1.93% | 75.50 | 76.99 |
| 5 | CLARION EVENTS TL | -1.76% | 76.36 | 77.73 |
| 6 | AKORN TL B | -1.56% | 89.98 | 91.41 |
| 7 | AVIS BUDGET TL B | -1.45% | 91.45 | 92.80 |
| 8 | LAIRD TL B | -1.31% | 91.32 | 92.54 |
| 9 | NEP EUR TL B | -1.24% | 82.45 | 83.49 |
| 10 | MEDICAL SOLUTIONS TL | -0.97% | 95.99 | 96.93 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/21/20 – 8/28/20 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 8/21/20 – 8/28/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/21/20 vs. the week ending 8/28/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | DELACHAUX EUR TL B1 | 18 | 44 | 26 | 144% |
| 2 | CERBA HEALTHCARE EUR TL B | 10 | 34 | 24 | 240% |
| 3 | ARMACELL EUR TL B | 10 | 34 | 24 | 240% |
| 4 | BIOGROUP EUR TL B | 0 | 24 | 24 | N/A |
| 5 | IMS HEALTH EUR TL B1 | 10 | 34 | 24 | 240% |
| 6 | STARS GROUP EUR TL B | 18 | 42 | 24 | 133% |
| 7 | OBERTHUR TECHNOLOGIES SA EUR TL B1 | 0 | 22 | 22 | N/A |
| 8 | XELLA INTERNATIONAL GMBH EUR TL B3 | 0 | 22 | 22 | N/A |
| 9 | IMS HEALTH EUR TL B2 | 0 | 22 | 22 | N/A |
| 10 | FONCIA GROUPE EUR TL B3 | 0 | 22 | 22 | N/A |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/21/20 – 8/28/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ACTION NEDERLAND EUR TL B | 20 |
| 2 | AMC ENTERTAINMENT TL B1 | 19 |
| 3 | GTT COMMUNICATIONS TL B | 17 |
| 4 | EIRCOM FINCO SARL EUR TL B | 16 |
| 5 | IFCO EUR TL B | 16 |
| 6 | TECHEM EUR TL B | 16 |
| 7 | AKZONOBEL EUR TL B | 16 |
| 8 | AMERICAN AIRLINES TL B | 16 |
| 9 | TELENET EUR TL A | 16 |
| 10 | ENVISION HEALTHCARE TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/21/20 – 8/28/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/21/20 – 8/28/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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