Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 7/24/20

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 7/17/20 – 7/24/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B -0.03% 65.02 65.04 14
2 4,750 DELL TL B 0.24% 98.74 98.51 14
3 4,750 ZAYO TL 0.65% 97.05 96.42 11
4 4,700 CAESARS RESORT COLLECTION TL 2.65% 91.47 89.11 12
5 4,250 BERRY PLASTICS TL Y 0.78% 97.41 96.65 13
6 4,197 AKZONOBEL TL B 0.35% 97.26 96.92 10
7 4,000 T-MOBILE USA TL B 0.15% 100.34 100.19 14
8 3,861 PETSMART CONSENTED TL B2 0.00% 99.43 99.44 10
9 3,582 MISYS TL B 1.22% 91.97 90.86 12
10 3,575 STARS GROUP TL B 0.01% 99.96 99.94 10
11 3,524 TRANSDIGM INC. TL F 1.86% 93.77 92.05 13
12 3,325 CINEWORLD TL B -2.85% 69.17 71.20 13
13 3,300 BMC SOFTWARE TL B 0.84% 96.95 96.15 14
14 3,300 NTL CABLE PLC TL N 0.51% 97.32 96.83 12
15 3,275 SCIENTIFIC GAMES TL B5 2.09% 91.30 89.43 12
16 3,165 MULTIPLAN TL B 0.33% 98.21 97.89 10
17 3,161 JAGUAR HOLDING CO I TL 0.20% 99.61 99.41 13
18 3,100 COLORADO BUYER 2ND LIEN TL -1.00% 36.13 36.49 13
19 2,970 BASS PRO SHOPS TL B 2.14% 99.64 97.55 10
20 2,945 ULTIMATE SOFTWARE TL 0.12% 99.78 99.67 12
AVERAGE 3,759 0.51% 91.03 90.49 12.1

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 7/17/20 – 7/24/20

RANK NAME CHANGE PX PX-1W
1 AT HOME STORES TL B 12.47% 78.99 70.23
2 IQOR TL B 9.42% 63.12 57.69
3 HOLLAND & BARRETT EUR TL B 8.66% 73.58 67.72
4 INDIVIOR TL B 7.54% 93.81 87.23
5 ROBERTSHAW TL 6.42% 82.57 77.59
6 SURGEY CENTER TL 5.87% 94.25 89.03
7 LIFEMILES TL B 5.27% 82.38 78.25
8 CLUB CORP TL B 3.82% 87.80 84.57
9 US ANESTHESIA TL B 3.52% 92.61 89.46
10 EQUINOX HLDGS INC TL B 3.39% 76.98 74.46

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/17/20 – 7/24/20

RANK NAME CHANGE PX PX-1W
1 AMERICAN GAMING TL B -10.14% 86.97 96.78
2 MCDERMOTT EXIT TL -5.32% 79.53 84.00
3 ASCENA RETAIL TL B -5.12% 33.48 35.29
4 SECURUS TL -5.06% 76.34 80.41
5 VUE INTERNATIONAL BIDCO PLC EUR TL B -3.85% 81.00 84.24
6 AREAS EUR TL B1 -3.30% 75.50 78.07
7 CSM BAKERY TL B -3.25% 92.75 95.86
8 CLARION EVENTS GBP TL -3.12% 79.53 82.10
9 CINEWORLD TL B -2.85% 69.17 71.20
10 TRAVELPORT TL B -2.54% 61.51 63.11

Avg Bid PX by Sector

Displays the average loan bid price by sector between 7/17/20 – 7/24/20

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 7/17/20 – 7/24/20

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 7/17/20 vs. the week ending 7/24/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 EIRCOM FINCO SARL EUR TL B 36 60 24 67%
2 BMC SOFTWARE EUR TL B 28 48 20 71%
3 SIGMA BIDCO EUR TL B 30 50 20 67%
4 JANE STREET TL B 14 32 18 129%
5 VERISURE EUR TL B 26 42 16 62%
6 SANDY CREEK TL B 10 25 15 150%
7 SOLERA TL B 49 64 15 31%
8 SURF HOLDINGS TL B 26 41 15 58%
9 POWER SOLUTIONS EUR TL B 22 36 14 64%
10 ULTRA PETROL CORP EXIT TL 16 30 14 88%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 7/17/20 – 7/24/20

RANK TRANCHE DEALERS
1 VERISURE EUR TL B1 18
2 VERISURE EUR TL B 18
3 AMC ENTERTAINMENT TL B1 17
4 TECHEM EUR TL B 17
5 EIRCOM FINCO SARL EUR TL B 17
6 THYSSENKRUPP AG EUR TL B 17
7 HERTZ TL 17
8 AKZONOBEL EUR TL B 16
9 GTT COMMUNICATIONS TL B 16
10 ACADEMY SPORTS TL B 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 7/17/20 – 7/24/20

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 7/17/20 – 7/24/20

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

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