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Syndicated Bank Loan Market Summary:
Week Ending 5/1/20

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 4/24/20 – 5/1/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B 0.60% 94.80 94.23 10
2 5,450 ENVISION HEALTHCARE TL B 8.06% 67.58 62.54 16
3 5,000 QWEST CORPORATION TL B -1.42% 93.97 95.33 10
4 4,750 ZAYO TL -0.81% 93.47 94.24 13
5 4,750 DELL TL B -0.34% 97.13 97.46 14
6 4,700 CAESARS RESORT COLLECTION TL -0.44% 84.09 84.46 11
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.11% 96.14 96.26 12
8 4,250 BERRY PLASTICS TL Y -1.14% 95.61 96.71 12
9 3,861 PETSMART CONSENTED TL B2 0.11% 96.48 96.38 10
10 3,575 STARS GROUP TL B 0.27% 97.42 97.16 10
11 3,524 TRANSDIGM INC. TL F -3.14% 86.37 89.17 15
12 3,325 CINEWORLD TL B -4.76% 62.39 65.51 15
13 3,300 BMC SOFTWARE TL B 0.35% 85.10 84.81 15
14 3,300 NTL CABLE PLC TL N -0.14% 93.90 94.03 11
15 3,275 SCIENTIFIC GAMES TL B5 -2.56% 81.86 84.01 10
16 3,210 HUB INTL LTD TL B -0.09% 93.87 93.96 10
17 3,165 MULTIPLAN TL B -2.01% 90.86 92.72 10
18 3,161 JAGUAR HOLDING CO I TL -0.19% 97.86 98.04 12
19 2,918 AVAYA TL B -0.55% 87.18 87.67 10
20 2,902 FORMULA ONE TL B -1.53% 90.54 91.95 12
AVERAGE 4,182 -0.49% 89.33 89.83 11.9

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 4/24/20 – 5/1/20

RANK NAME CHANGE PX PX-1W
1 COLORADO BUYER 2ND LIEN TL 26.07% 25.40 20.15
2 PRONOVIAS EUR TL B2 24.98% 33.04 26.43
3 MCS TL B 23.93% 47.71 38.49
4 IMAGINA MEDIA AUDIOVISUAL SL EUR TL A 20.21% 73.94 61.51
5 TRAVERSE MIDSTREAM TL B 16.73% 74.97 64.22
6 PATTERSON MEDICAL TL 14.01% 85.43 74.94
7 RODENSTOCK EUR TL B 13.87% 86.27 75.76
8 WHEEL PROS 2ND LIEN TL 13.86% 69.43 60.98
9 STETSON MIDSTREAM TL B 12.73% 42.33 37.55
10 LIQUIBOX TL B 12.71% 79.72 70.74

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 4/24/20 – 5/1/20

RANK NAME CHANGE PX PX-1W
1 CALIFORNIA PIZZA TL -29.72% 32.18 45.79
2 JC PENNEY TL B -16.64% 47.29 56.73
3 TRAVELPORT 2ND LIEN TL -16.29% 29.13 34.80
4 AVIS BUDGET TL B -12.43% 67.88 77.51
5 HUBBARD RADIO TL B -12.40% 75.00 85.61
6 UTEX TL B -10.08% 28.88 32.12
7 STRIKE TL B -10.02% 83.89 93.24
8 WYNDHAM DESTINATIONS, INC. TL B -9.38% 84.54 93.29
9 CIRQUE DE SOLEIL TL B -8.28% 44.35 48.35
10 PGS TL B -7.26% 52.74 56.87

Avg Bid PX by Sector

Displays the average loan bid price by sector between 4/24/20 – 5/1/20

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

Avg Bid PX by Sector

Sentiment

Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 4/24/20 – 5/1/20

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 4/24/20 vs. the week ending 5/1/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 AMWINS TL B 32 50 18 56%
2 GENERAL ELECTRIC DISTRIBUTED POWER EUR TL B 4 20 16 400%
3 RCN GRANDE DD TL 4 20 16 400%
4 SOLERA EUR TL B 0 16 16 N/A
5 GENESYS TELECOM TL B 30 45 15 50%
6 GARDNER DENVER EUR TL B 0 14 14 N/A
7 AIR METHODS TL 14 28 14 100%
8 CENTRAL SECURITY GROUP TL 2 16 14 700%
9 STRATEGIC MATERIALS TL 14 28 14 100%
10 TKC HOLDINGS 2ND LIEN TL 0 14 14 N/A

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 4/24/20 – 5/1/20

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

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 4/24/20 – 5/1/20

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 4/24/20 – 5/1/20

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

Sector Bid Offer Spread

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