Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 6/26/20

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 6/19/20 – 6/26/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B -3.86% 68.56 71.31 17
2 4,750 DELL TL B -1.00% 97.47 98.45 15
3 4,750 ZAYO TL -1.49% 95.25 96.69 12
4 4,700 CAESARS RESORT COLLECTION TL -2.99% 90.08 92.86 12
5 4,565 BAUSCH HEALTH COMPANIES INC. TL B -1.52% 97.07 98.57 10
6 4,475 UNIVISION TL C5 -1.88% 93.28 95.07 10
7 4,250 BERRY PLASTICS TL Y -1.23% 96.26 97.46 13
8 4,200 JOHNSON CONTROLS INTL PUBLIC LTD CO TL -1.18% 95.81 96.95 10
9 4,197 AKZONOBEL TL B -1.29% 94.57 95.80 12
10 4,000 T-MOBILE USA TL B -0.28% 99.75 100.03 13
11 3,582 MISYS TL B -2.29% 87.87 89.93 12
12 3,575 STARS GROUP TL B -0.21% 99.38 99.59 13
13 3,524 TRANSDIGM INC. TL F -2.80% 90.42 93.02 16
14 3,415 ENDO HEALTH TL B -1.19% 94.47 95.61 12
15 3,325 CINEWORLD TL B -2.94% 75.60 77.89 15
16 3,312 HUB INTL LTD TL B -1.14% 95.71 96.82 11
17 3,300 BMC SOFTWARE TL B -1.04% 94.66 95.65 15
18 3,300 NTL CABLE PLC TL N -1.31% 95.83 97.10 12
19 3,275 SCIENTIFIC GAMES TL B5 -1.53% 89.95 91.34 12
20 3,165 MULTIPLAN TL B -1.23% 95.17 96.36 10
AVERAGE 3,955 -1.62% 92.36 93.83 12.6

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 6/19/20 – 6/26/20

RANK NAME CHANGE PX PX-1W
1 ACCURIDE TL B 15.70% 62.96 54.42
2 TECHNICOLOR TL B 14.28% 47.80 41.83
3 DRILLINGINFO TL 12.71% 90.61 80.39
4 TRAVEL LEADERS TL 9.17% 67.30 61.64
5 FOGO DE CHAO TL 8.72% 63.94 58.82
6 PURESTAR TL 8.33% 65.00 60.00
7 GNC FLLO 7.06% 93.71 87.53
8 EPIC Y-GRADE SERVICES TL B 6.92% 71.99 67.33
9 MALLINCKRODT TL B 6.77% 74.84 70.10
10 ISAGENIX TL 5.18% 38.68 36.78

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/19/20 – 6/26/20

RANK NAME CHANGE PX PX-1W
1 JASON INC 2ND LIEN TL -23.51% 20.56 26.88
2 MSX INTERNATIONAL TL B4 -15.11% 71.78 84.55
3 24 HOUR FITNESS TL B -13.38% 22.88 26.41
4 AMERICAN AIRLINES TL B -6.47% 68.47 73.21
5 PHOTOBOX GBP TL B -5.67% 90.54 95.98
6 STAPLES TL B1 -5.24% 86.03 90.79
7 RENFRO TL B -5.08% 34.87 36.74
8 PARTY CITY TL B -4.79% 47.05 49.41
9 STAPLES TL B2 -4.59% 87.41 91.61
10 DIAMOND SPORTS TL B -4.54% 84.11 88.11

Avg Bid PX by Sector

Displays the average loan bid price by sector between 6/19/20 – 6/26/20

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 6/19/20 – 6/26/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 6/19/20 vs. the week ending 6/26/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 WYNDHAM DESTINATIONS, INC. EUR TL B 14 40 26 186%
2 ACTION NEDERLAND EUR TL B 32 49 17 53%
3 DANA HOLDING TL B 11 28 17 155%
4 CABOT MICROELECTRONICS CORP TL B 0 12 12 N/A
5 BRIGHTSPRING TL B 20 32 12 60%
6 GOLDEN ENTERTAINMENT TL 10 22 12 120%
7 EXACT HOLDING EUR TL B 14 24 10 71%
8 LIFETIME TL B 10 20 10 100%
9 BCP RENAISSANCE TL B 20 30 10 50%
10 AMF BOWLMOR TL B 10 20 10 100%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 6/19/20 – 6/26/20

RANK TRANCHE DEALERS
1 HERTZ TL 18
2 WINDSTREAM SERVICES LLC TL B7 18
3 ACTION NEDERLAND EUR TL B 18
4 VERISURE EUR TL B1 17
5 AMC ENTERTAINMENT TL B1 17
6 ENVISION HEALTHCARE TL B 17
7 GTT COMMUNICATIONS TL B 17
8 TRANSDIGM INC. TL G 16
9 TRANSDIGM INC. TL F 16
10 EIRCOM FINCO SARL EUR TL B 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 6/19/20 – 6/26/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 6/19/20 – 6/26/20

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

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