Syndicated Bank Loan Market Summary – Week Ending 9/4/20
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Syndicated Bank Loan Market Summary: Week Ending 9/4/20
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 8/28/20 – 9/4/20
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,451 | REFINITV TL B | 0.14% | 99.12 | 98.99 | 11 |
| 2 | 5,450 | ENVISION HEALTHCARE TL B | 1.03% | 72.89 | 72.15 | 16 |
| 3 | 5,100 | CHANGE HEALTHCARE TL B | 0.83% | 98.91 | 98.09 | 11 |
| 4 | 5,000 | QWEST CORPORATION TL B | 1.17% | 97.57 | 96.44 | 11 |
| 5 | 4,750 | ZAYO TL | 0.92% | 97.88 | 96.99 | 14 |
| 6 | 4,750 | DELL TL B | 0.67% | 99.73 | 99.07 | 15 |
| 7 | 4,700 | CAESARS RESORT COLLECTION TL | 0.43% | 94.06 | 93.65 | 10 |
| 8 | 4,250 | BERRY PLASTICS TL Y | 1.00% | 97.74 | 96.78 | 14 |
| 9 | 4,250 | BERRY PLASTICS TL X | 0.37% | 98.69 | 98.33 | 10 |
| 10 | 4,200 | JOHNSON CNTLS INTL PUBLIC LTD CO TL | 0.18% | 97.99 | 97.81 | 10 |
| 11 | 4,197 | AKZONOBEL TL B | 0.89% | 97.51 | 96.65 | 13 |
| 12 | 4,000 | T-MOBILE USA TL B | 0.21% | 100.34 | 100.13 | 15 |
| 13 | 3,861 | PETSMART CONSENTED TL B2 | -0.05% | 99.81 | 99.86 | 10 |
| 14 | 3,582 | MISYS TL B | 0.95% | 94.85 | 93.96 | 13 |
| 15 | 3,575 | STARS GROUP TL B | 0.16% | 100.13 | 99.97 | 14 |
| 16 | 3,524 | TRANSDIGM INC. TL F | 0.27% | 94.96 | 94.70 | 13 |
| 17 | 3,325 | CINEWORLD TL B | 3.33% | 77.88 | 75.37 | 12 |
| 18 | 3,315 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 0.01% | 98.52 | 98.50 | 10 |
| 19 | 3,312 | HUB INTL LTD TL B | 0.58% | 97.68 | 97.11 | 10 |
| 20 | 3,300 | BMC SOFTWARE TL B | 0.73% | 98.58 | 97.87 | 16 |
| AVERAGE | 4,245 | 0.69% | 95.74 | 95.12 | 12.4 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/28/20 – 9/4/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | COLORADO BUYER 2ND LIEN TL | 36.39% | 52.50 | 38.49 |
| 2 | HILDING ANDERS EUR TL | 15.43% | 64.49 | 55.87 |
| 3 | ISAGENIX TL | 14.33% | 44.81 | 39.20 |
| 4 | RED LOBSTER TL B | 13.00% | 91.24 | 80.74 |
| 5 | TRAVELPORT 2ND LIEN TL | 12.59% | 28.14 | 25.00 |
| 6 | PEAK 10 2ND LIEN TL | 10.19% | 53.56 | 48.61 |
| 7 | AMERICAN AXLE & MANUFACTURING TL | 7.77% | 97.23 | 90.22 |
| 8 | GATEWAY CASINOS TL B | 6.64% | 90.10 | 84.49 |
| 9 | SWISSPORT TL B | 5.52% | 85.49 | 81.02 |
| 10 | DAE AVIATION TL B2 | 4.84% | 90.53 | 86.36 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/28/20 – 9/4/20
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | FRONTERA TL B | -27.00% | 42.19 | 57.80 |
| 2 | FRAC TECH TL B | -7.07% | 55.11 | 59.30 |
| 3 | CARESTREAM DENTAL TL | -5.53% | 86.61 | 91.69 |
| 4 | EQUINOX HLDGS INC 2ND LIEN TL | -2.69% | 57.14 | 58.72 |
| 5 | AKORN TL B | -2.64% | 86.03 | 88.37 |
| 6 | LIGHTSQUARED EXIT PIK TL | -2.39% | 85.61 | 87.70 |
| 7 | FRONTIER TL B | -2.12% | 98.82 | 100.97 |
| 8 | AMER SPORTS EUR TL B2 | -1.79% | 89.14 | 90.77 |
| 9 | GENUINE FINANCIAL TL | -1.06% | 90.85 | 91.82 |
| 10 | STAGE ENTERTAINMENT EUR TL B | -0.89% | 76.16 | 76.84 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/28/20 – 9/4/20 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 8/28/20 – 9/4/20
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/28/20 vs. the week ending 9/4/20
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | DIVERSEY TL | 16 | 32 | 16 | 100% |
| 2 | AKZONOBEL TL B | 15 | 30 | 15 | 100% |
| 3 | TELENET TL | 35 | 50 | 15 | 43% |
| 4 | THYSSENKRUPP AG TL B | 22 | 36 | 14 | 64% |
| 5 | UPC HOLDING BV TL B1 | 14 | 28 | 14 | 100% |
| 6 | WYNDHAM DESTINATIONS, INC. TL B | 29 | 43 | 14 | 48% |
| 7 | AREAS TL B2 | 0 | 14 | 14 | N/A |
| 8 | INEOS FIN TL B | 31 | 45 | 14 | 45% |
| 9 | MISYS TL B | 49 | 62 | 13 | 27% |
| 10 | INTELSAT TL B4 | 18 | 30 | 12 | 67% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/28/20 – 9/4/20
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ACTION NEDERLAND EUR TL B | 21 |
| 2 | AMC ENTERTAINMENT TL B1 | 18 |
| 3 | GTT COMMUNICATIONS TL B | 17 |
| 4 | TECHEM EUR TL B | 17 |
| 5 | TELENET EUR TL A | 17 |
| 6 | VERISURE EUR TL B | 16 |
| 7 | AMERICAN AIRLINES TL B | 16 |
| 8 | EIRCOM FINCO SARL EUR TL B | 16 |
| 9 | BMC SOFTWARE TL B | 16 |
| 10 | IFCO EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/28/20 – 9/4/20
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/28/20 – 9/4/20 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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