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Syndicated Bank Loan Market Summary:
Week Ending 5/8/20

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 5/1/20 – 5/8/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B 0.13% 94.92 94.80 10
2 5,450 ENVISION HEALTHCARE TL B 1.08% 68.31 67.58 17
3 5,000 QWEST CORPORATION TL B 0.11% 94.08 93.97 10
4 4,750 ZAYO TL 0.95% 94.36 93.47 14
5 4,750 DELL TL B 0.39% 97.51 97.13 15
6 4,700 CAESARS RESORT COLLECTION TL 1.08% 85.00 84.09 11
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B 0.18% 96.32 96.14 12
8 4,250 BERRY PLASTICS TL Y -0.04% 95.57 95.61 12
9 4,197 AKZONOBEL TL B 2.44% 92.70 90.49 10
10 3,861 PETSMART CONSENTED TL B2 1.02% 97.46 96.48 10
11 3,575 STARS GROUP TL B 0.43% 97.83 97.42 11
12 3,524 TRANSDIGM INC. TL F 0.53% 86.83 86.37 15
13 3,325 CINEWORLD TL B -1.93% 61.18 62.39 14
14 3,300 BMC SOFTWARE TL B 4.58% 89.00 85.10 16
15 3,300 NTL CABLE PLC TL N 1.12% 94.95 93.90 11
16 3,275 SCIENTIFIC GAMES TL B5 0.35% 82.14 81.86 11
17 3,210 HUB INTL LTD TL B 0.21% 94.07 93.87 11
18 3,165 MULTIPLAN TL B 1.40% 92.13 90.86 10
19 3,161 JAGUAR HOLDING CO I TL 0.48% 98.32 97.86 12
20 2,918 AVAYA TL B 0.67% 87.77 87.18 10
AVERAGE 4,246 0.76% 90.02 89.33 12.1

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 5/1/20 – 5/8/20

RANK NAME CHANGE PX PX-1W
1 NAPA MANAGEMENT SERVICES TL B 24.38% 75.14 60.41
2 P.F. CHANG’S TL 15.50% 59.85 51.82
3 WYNDHAM DESTINATIONS, INC. TL B 10.25% 93.21 84.54
4 NEP 2ND LIEN TL 9.68% 62.06 56.58
5 ENCINO ACQUISITION PARTNERS 2ND LIEN TL 9.66% 45.86 41.82
6 SPECTRUM PLASTICS 2ND LIEN TL 8.73% 70.15 64.52
7 US SILICA CO TL B 8.59% 60.43 55.64
8 GETTY IMAGES EUR TL B 7.88% 85.44 79.20
9 PERSTORP EUR TL 7.46% 84.80 78.91
10 FRANKLIN ENERGY TL 6.12% 78.32 73.80

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/1/20 – 5/8/20

RANK NAME CHANGE PX PX-1W
1 JCREW CONSENTED TL B -34.55% 38.77 59.23
2 BELK EXT TL B -19.25% 31.59 39.12
3 CIRQUE DE SOLEIL TL B -14.07% 38.10 44.35
4 SONICWALL 2ND LIEN TL -9.62% 67.65 74.85
5 ZEST DENTAL TL -8.44% 72.66 79.35
6 EDWARD DON TL B -8.11% 63.96 69.61
7 CINEWORLD TL B -7.58% 56.91 61.58
8 SKILLSOFT EXT TL -6.06% 54.37 57.87
9 CENGAGE TL -5.59% 70.98 75.18
10 WESTJET TL -5.22% 75.39 79.54

Avg Bid PX by Sector

Displays the average loan bid price by sector between 5/1/20 – 5/8/20

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 5/1/20 – 5/8/20

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 5/1/20 vs. the week ending 5/8/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 CENGAGE TL 14 36 22 157%
2 RCN GRANDE TL B 33 54 21 64%
3 HYLAND SOFTWARE TL 23 39 16 70%
4 APC AFTERMARKET PIK TL A2 6 20 14 233%
5 BEASLEY BROADCAST TL B 28 40 12 43%
6 BWAY HOLDING TL B 21 33 12 57%
7 ENNIS-FLINT TL 12 24 12 100%
8 SPRINGER NATURE TL B 20 32 12 60%
9 TRANSDIGM INC. TL G 56 67 11 20%
10 RIVERBED TL B 41 52 11 27%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 5/1/20 – 5/8/20

RANK TRANCHE DEALERS
1 VERISURE EUR TL B1 19
2 HERTZ TL 17
3 ENVISION HEALTHCARE TL B 17
4 BMC SOFTWARE TL B 16
5 AMC ENTERTAINMENT TL B1 16
6 PEAK 10 TL 16
7 DELL TL B 15
8 HILTON TL B 15
9 EIRCOM FINCO SARL EUR TL B 15
10 AVIS BUDGET TL B 15

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 5/1/20 – 5/8/20

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 5/1/20 – 5/8/20

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

Sector Bid Offer Spread

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