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Syndicated Bank Loan Market Summary:
Week Ending 6/5/20

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 5/29/20 – 6/5/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B 0.87% 65.69 65.13 16
2 4,750 DELL TL B 0.39% 98.47 98.08 15
3 4,750 ZAYO TL 1.61% 97.73 96.17 12
4 4,700 CAESARS RESORT COLLECTION TL 3.05% 92.73 89.99 11
5 4,565 BAUSCH HEALTH COMPANIES INC. TL B 0.79% 98.93 98.16 10
6 4,250 BERRY PLASTICS TL Y 0.02% 97.83 97.81 12
7 4,200 JOHNSON CONTROLS INTL PUBLIC LTD CO TL 2.98% 97.24 94.42 10
8 4,197 AKZONOBEL TL B 1.58% 96.49 94.99 10
9 4,000 T-MOBILE USA TL B 0.28% 100.28 99.99 11
10 3,861 PETSMART CONSENTED TL B2 0.41% 98.68 98.28 10
11 3,582 MISYS TL B 2.35% 92.51 90.39 13
12 3,575 STARS GROUP TL B 1.10% 99.42 98.34 10
13 3,524 TRANSDIGM INC. TL F 3.83% 95.00 91.50 16
14 3,415 ENDO HEALTH TL B 1.93% 94.96 93.16 12
15 3,325 CINEWORLD TL B 9.85% 79.68 72.54 13
16 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.27% 96.87 96.61 10
17 3,312 HUB INTL LTD TL B 1.28% 97.33 96.10 11
18 3,300 NTL CABLE PLC TL N 1.17% 98.00 96.86 11
19 3,300 BMC SOFTWARE TL B 2.75% 96.78 94.19 17
20 3,275 SCIENTIFIC GAMES TL B5 2.95% 90.89 88.28 13
AVERAGE 3,932   1.97% 94.28 92.55 12.2

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 5/29/20 – 6/5/20

RANK NAME CHANGE PX PX-1W
1 MITEL NETWORKS 2ND LIEN TL 74.47% 51.66 29.61
2 STEINHOFF EUROPE AG 2ND LIEN EUR TL 41.27% 54.09 38.29
3 BUCCANEER 2ND LIEN TL 23.04% 44.88 36.47
4 COLORADO BUYER 2ND LIEN TL 21.63% 34.50 28.37
5 CINEWORLD TL B 18.93% 69.38 58.33
6 BUCCANEER TL 16.13% 71.18 61.30
7 GULF FINANCE TL 15.35% 66.91 58.01
8 NAVICO TL B 14.50% 50.52 44.12
9 US FARATHANE CORPORATION TL B 13.54% 67.85 59.76
10 DYNACAST TL B 12.95% 72.67 64.33

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/29/20 – 6/5/20

RANK NAME CHANGE PX PX-1W
1 TECHNICOLOR EUR TL B -17.16% 34.69 41.87
2 LIBBEY GLASS TL B -11.03% 41.33 46.46
3 LIGHTSQUARED EXIT PIK 2ND LIEN TL -8.30% 40.21 43.84
4 DAYTON SUPERIOR TL -6.34% 73.13 78.08
5 KAMAN DISTRIBUTION 2ND LIEN TL -5.94% 73.57 78.21
6 AT HOME STORES TL B -5.70% 66.01 70.00
7 REVERE POWER TL B -5.01% 82.07 86.40
8 APPLE LEISURE TL -4.11% 65.66 68.47
9 MONOTYPE IMAGING TL -3.22% 87.45 90.36
10 CONTURA ENERGY TL -2.10% 63.84 65.21

Avg Bid PX by Sector

Displays the average loan bid price by sector between 5/29/20 – 6/5/20

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 5/29/20 – 6/5/20

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 5/29/20 vs. the week ending 6/5/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ALPHA BIDCO EUR TL B1 8 27 19 238%
2 AGROFRESH TL B 20 38 18 90%
3 DELACHAUX EUR TL B1 16 34 18 113%
4 IMAGINE! TL 4 22 18 450%
5 ASURION TL B6 26 43 17 65%
6 AVAYA TL B 30 46 16 53%
7 DIAVERUM EUR TL B 8 24 16 200%
8 EPIQ SYSTEMS TL B 34 50 16 47%
9 CINEWORLD TL B 34 50 16 47%
10 CIRQUE DE SOLEIL TL B 18 34 16 89%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 5/29/20 – 6/5/20

RANK TRANCHE DEALERS
1 HERTZ TL 18
2 ACTION NEDERLAND EUR TL B 18
3 BMC SOFTWARE TL B 17
4 AMC ENTERTAINMENT TL B1 17
5 VERISURE EUR TL B1 16
6 SIGMA BIDCO EUR TL B 16
7 GTT COMMUNICATIONS TL B 16
8 EIRCOM FINCO SARL EUR TL B 16
9 TRANSDIGM INC. TL F 16
10 ENVISION HEALTHCARE TL B 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 5/29/20 – 6/5/20

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 5/29/20 – 6/5/20

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

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