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Syndicated Bank Loan Market Summary:
Week Ending 4/24/20

Our weekly newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.

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Largest Loans
Top 10 Winners
Top 10 Losers
Average Bid Price
Market Sentiment
Top Movers
Most Quoted Loans
Bid & Offer Volume
Bid Offer Spread

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/17/20 – 4/24/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B 2.10% 62.54 61.25 16
2 5,000 QWEST CORPORATION TL B -0.87% 95.33 96.17 10
3 4,750 DELL TL B -0.54% 97.46 97.98 12
4 4,750 ZAYO TL -1.69% 94.24 95.86 12
5 4,700 CAESARS RESORT COLLECTION TL -2.18% 84.46 86.34 14
6 4,565 BAUSCH HEALTH COMPANIES INC. TL B -1.01% 96.26 97.23 12
7 4,250 BERRY PLASTICS TL Y -1.01% 96.71 97.70 10
8 4,197 AKZONOBEL TL B -3.23% 90.50 93.52 10
9 3,861 PETSMART CONSENTED TL B2 -0.78% 96.38 97.14 11
10 3,582 MISYS TL B -0.15% 86.89 87.02 13
11 3,575 STARS GROUP TL B 0.12% 97.16 97.04 11
12 3,524 TRANSDIGM INC. TL F -1.86% 89.17 90.86 16
13 3,325 CINEWORLD TL B -0.73% 65.51 65.99 15
14 3,300 DIAMOND SPORTS TL B 2.64% 83.48 81.33 10
15 3,300 BMC SOFTWARE TL B -2.64% 84.81 87.11 16
16 3,300 NTL CABLE PLC TL N -2.27% 94.03 96.22 10
17 3,275 SCIENTIFIC GAMES TL B5 -1.58% 84.01 85.35 10
18 3,210 HUB INTL LTD TL B -1.38% 93.96 95.27 10
19 3,165 MULTIPLAN TL B -2.38% 92.72 94.98 10
20 3,161 JAGUAR HOLDING CO I TL -0.39% 98.04 98.42 13
AVERAGE 3,912 -0.99% 89.18 90.14 12.1

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 4/17/20 – 4/24/20

RANK NAME CHANGE PX PX-1W
1 LIMETREE BAY TL B 19.07% 76.62 64.35
2 DOUGLAS HOLDING EUR TL B8 17.14% 74.59 63.68
3 EXCLUSIVE GROUP EUR TL B 15.33% 86.38 74.90
4 SIRVA WORLDWIDE TL 14.73% 69.44 60.53
5 IGM RESIN EUR TL 14.00% 77.76 68.21
6 SAPEC AGRO SA EUR TL B1 11.54% 94.33 84.57
7 CONDUENT BUSINESS SERVICES TL A 10.20% 87.93 79.78
8 SLV GROUP GMBH EUR TL B 9.36% 74.87 68.47
9 SMS SYSTEMS TL 8.34% 74.73 68.98
10 NATIONAL CINEMEDIA TL B 8.09% 76.64 70.90

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/17/20 – 4/24/20

RANK NAME CHANGE PX PX-1W DEALERS
1 COLORADO BUYER 2ND LIEN TL -29.81% 20.15 28.71 5
2 HERTZ TL -16.30% 63.70 76.10 12
3 SONICWALL 2ND LIEN TL -16.01% 75.08 89.38 5
4 BELRON INTERNATIONAL TL B -14.86% 81.65 95.90 4
5 CHESAPEAKE ENERGY FLLO -14.66% 34.29 40.19 9
6 STAPLES TL B2 -13.33% 74.85 86.37 5
7 SKILLSOFT EXT TL -13.32% 52.66 60.75 11
8 24 HOUR FITNESS TL B -13.23% 26.88 30.98 10
9 CIRQUE DE SOLEIL 2ND LIEN TL -13.15% 32.76 37.72 3
10 JO-ANN STORES TL B -11.30% 30.35 34.22 8

Avg Bid PX by Sector

Displays the average loan bid price by sector between 4/17/20 – 4/24/20

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 4/17/20 – 4/24/20

Market Sentiment - Advancers vs. Decliners

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 4/17/20 vs. the week ending 4/24/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 QWEST CORPORATION TL B 30 54 24 80%
2 QWEST CORPORATION TL A 5 28 23 460%
3 PQ CORP TL B 18 40 22 122%
4 EVERI PAYMENTS INC TL 3 24 21 700%
5 NAVISTAR INTERNATIONAL TL B 10 30 20 200%
6 TELENET TL 32 52 20 63%
7 BMC SOFTWARE TL B 52 71 19 37%
8 CHESAPEAKE ENERGY FLLO 2 20 18 900%
9 MEREDITH CO TL B 22 40 18 82%
10 QUIKRETE TL B 34 52 18 53%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 4/17/20 – 4/24/20

RANK TRANCHE DEALERS
1 VERISURE EUR TL B1 19
2 BMC SOFTWARE TL B 16
3 ENVISION HEALTHCARE TL B 16
4 AMERICAN AIRLINES TL B 16
5 TECHEM EUR TL B 16
6 TRANSDIGM INC. TL F 16
7 CASINO GUICHARD EUR TL B 15
8 CINEWORLD TL B 15
9 HILTON TL B 15
10 EIRCOM FINCO SARL EUR TL B 15

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 4/17/20 – 4/24/20

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 4/17/20 – 4/24/20

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

Sector Bid Offer Spread

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