Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 6/12/20

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 6/5/20 – 6/12/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B 9.41% 71.87 65.69 16
2 4,750 DELL TL B -0.52% 97.95 98.47 15
3 4,750 ZAYO TL -1.24% 96.51 97.73 12
4 4,700 CAESARS RESORT COLLECTION TL -0.05% 92.68 92.73 11
5 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.45% 98.49 98.93 10
6 4,250 BERRY PLASTICS TL Y -0.61% 97.23 97.83 13
7 4,200  JOHNSON CONTROLS INTL PUBLIC LTD CO TL 0.22% 97.45 97.24 11
8 4,197 AKZONOBEL TL B -0.24% 96.26 96.49 12
9 4,000 T-MOBILE USA TL B -0.25% 100.02 100.28 11
10 3,582 MISYS TL B -2.62% 90.08 92.51 13
11 3,575 STARS GROUP TL B -0.02% 99.40 99.42 12
12 3,524 TRANSDIGM INC. TL F -1.36% 93.71 95.00 16
13 3,415 ENDO HEALTH TL B -0.34% 94.64 94.96 12
14 3,325 CINEWORLD TL B -1.48% 78.50 79.68 13
15 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.16% 97.02 96.87 10
16 3,312 HUB INTL LTD TL B -0.31% 97.03 97.33 11
17 3,300 BMC SOFTWARE TL B -1.18% 95.64 96.78 17
18 3,300 NTL CABLE PLC TL N -0.93% 97.09 98.00 10
19 3,275 SCIENTIFIC GAMES TL B5 0.47% 91.32 90.89 12
20 3,165 MULTIPLAN TL B -0.48% 96.01 96.47 10
AVERAGE 3,897 -0.09% 93.95 94.16 12.4

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 6/5/20 – 6/12/20

RANK NAME CHANGE PX PX-1W
1 ASCENA RETAIL TL B 34.80% 32.00 23.74
2 TECHNICOLOR TL B 19.01% 42.25 35.50
3 ACCURIDE TL B 16.24% 50.74 43.65
4 ALLIANCE HEALTH TL B 15.88% 63.48 54.78
5 SHAPE TECHNOLOGIES TL 13.67% 77.00 67.74
6 AMERICAN AIRLINES TL B 13.63% 80.40 70.75
7 SYNCREON TL B 13.22% 68.60 60.60
8 EMERALD EXPOSITIONS TL B 12.69% 87.38 77.54
9 CRESTWOOD MIDSTREAM TL B 12.39% 63.83 56.79
10 TENSAR 2ND LIEN TL 12.21% 74.27 66.19

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/5/20 – 6/12/20

RANK NAME CHANGE PX PX-1W
1 MENS WEARHOUSE TL B -12.38% 22.22 25.35
2 DUEMMEN ORANGE EUR TL B -9.68% 35.42 39.21
3 MEDICAL DEPOT TL -7.53% 55.42 59.93
4 ANCHOR GLASS 2ND LIEN TL -6.11% 28.09 29.92
5 24 HOUR FITNESS TL B -5.20% 27.72 29.24
6 BELK EXT TL B -5.08% 27.69 29.17
7 FLY LEASING TL -3.07% 84.80 87.49
8 MISYS TL B -2.62% 90.08 92.51
9 SIVANTOS EXT EUR TL B1 -2.19% 91.60 93.66
10 CERAMTEC EUR TL B -1.93% 93.66 95.50

Avg Bid PX by Sector

Displays the average loan bid price by sector between 6/5/20 – 6/12/20

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 6/5/20 – 6/12/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 6/5/20 vs. the week ending 6/12/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 BMC SOFTWARE EUR TL B 16 30 14 88%
2 AMER SPORTS EUR TL B 2 15 13 650%
3 SIVANTOS EUR TL B1 16 28 12 75%
4 ZIGGO EUR TL H 20 32 12 60%
5 STARS GROUP EUR TL B 18 28 10 56%
6 CAPROCK MIDSTREAM TL B 14 24 10 71%
7 CINEMARK TL B 30 40 10 33%
8 COBHAM EUR TL B 8 18 10 125%
9 FRONERI EUR TL B 6 16 10 167%
10 IGM RESIN EUR TL 7 17 10 143%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 6/5/20 – 6/12/20

RANK TRANCHE DEALERS
1 HERTZ TL 19
2 ACTION NEDERLAND EUR TL B 18
3 AMC ENTERTAINMENT TL B1 17
4 BMC SOFTWARE TL B 17
5 VERISURE EUR TL B1 16
6 TRANSDIGM INC. TL F 16
7 GTT COMMUNICATIONS TL B 16
8 ENVISION HEALTHCARE TL B 16
9 AMERICAN AIRLINES TL B 15
10 TRANSDIGM INC. TL G 15

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 6/5/20 – 6/12/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 6/5/20 – 6/12/20

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

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