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Syndicated Bank Loan Market Summary:
Week Ending 10/2/20

Our 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 9/25/20 – 10/2/20

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 6,451 REFINITV TL B 0.21% 98.96 98.75 10
2 5,450 ENVISION HEALTHCARE TL B -1.97% 72.28 73.73 17
3 5,100 CHANGE HEALTHCARE TL B -0.04% 97.84 97.88 12
4 5,000 QWEST CORPORATION TL B 0.20% 95.89 95.70 12
5 4,750 DELL TL B 0.07% 99.31 99.24 15
6 4,750 ZAYO TL 0.36% 96.94 96.60 15
7 4,700 CAESARS RESORT COLLECTION TL 0.61% 93.65 93.09 11
8 4,250 BERRY PLASTICS TL X -0.03% 98.37 98.39 10
9 4,200 POWER SOLUTIONS TL B -0.11% 97.43 97.54 11
10 4,197 AKZONOBEL TL B 0.51% 96.74 96.25 13
11 4,000 T-MOBILE USA TL B -0.05% 99.83 99.88 16
12 3,861 PETSMART CONSENTED TL B2 0.16% 99.71 99.56 13
13 3,582 MISYS TL B -0.39% 93.51 93.88 13
14 3,575 STARS GROUP TL B 0.08% 99.97 99.88 14
15 3,524 TRANSDIGM INC. TL F -0.24% 94.08 94.31 13
16 3,415 ENDO HEALTH TL B -1.17% 94.91 96.04 10
17 3,338 ASURION TL B6 -0.14% 98.32 98.46 10
18 3,325 CINEWORLD TL B -4.62% 65.32 68.49 14
19 3,312 HUB INTL LTD TL B 0.05% 96.60 96.55 10
20 3,300 BMC SOFTWARE TL B 0.41% 97.26 96.85 17
AVERAGE 4,204 -0.30% 94.35 94.55 12.8

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 9/25/20 – 10/2/20

RANK NAME CHANGE PX PX-1W
1 CHECKERS TL 7.65% 68.11 63.26
2 NEP 2ND LIEN TL 5.35% 78.00 74.04
3 LANDESK 2ND LIEN TL 4.92% 96.53 92.00
4 24 HOUR FITNESS DD TL 3.57% 83.85 80.95
5 TRAVERSE MIDSTREAM TL B 2.84% 92.93 90.36
6 RODENSTOCK EUR TL B 2.43% 94.16 91.92
7 SERTA SIMMONS TL 2.36% 81.96 80.06
8 KUONI REISEN EUR TL B 2.19% 87.58 85.70
9 RADIO ONE TL B 2.12% 84.35 82.60
10 PFLEIDERER EUR TL B 1.97% 89.87 88.14

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/25/20 – 10/2/20

RANK NAME CHANGE PX PX-1W
1 TRAVELPORT TL B -12.72% 64.26 73.63
2 CINEWORLD EUR TL B -5.66% 66.45 70.44
3 LIGHTSQUARED EXIT PIK 2ND LIEN TL -5.59% 50.42 53.41
4 FRONTERA TL B -4.66% 33.37 35.00
5 EPIC CRUDE TL B -4.55% 71.26 74.65
6 MERLIN ENTERTAINMENTS DD TL -3.24% 86.47 89.36
7 AVIS BUDGET TL B -3.15% 88.30 91.17
8 CAPROCK MIDSTREAM TL B -2.84% 70.24 72.30
9 LIFE TIME TL B -2.83% 90.66 93.30
10 EQUINOX HLDGS INC TL B -2.61% 76.42 78.47

Avg Bid PX by Sector

Displays the average loan bid price by sector between 9/25/20 – 10/2/20

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 9/25/20 – 10/2/20

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 9/25/20 vs. the week ending 10/2/20

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 LUMILEDS TL B 28 48 20 71%
2 LGC EUR TL B 18 36 18 100%
3 NTL CABLE PLC EUR TL R 32 50 18 56%
4 COMMERCIAL VEHICLE GROUP TL B 10 28 18 180%
5 TENNECO TL B 28 46 18 64%
6 USI HOLDINGS TL B 0 18 18 0%
7 STADA ARZNEIMITTEL EUR TL F 14 30 16 114%
8 RCN GRANDE TL B 37 53 16 43%
9 CLUB CORP TL B 32 48 16 50%
10 CEVA GROUP TL B 20 36 16 80%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 9/25/20 – 10/2/20

RANK TRANCHE DEALERS
1 AMC ENTERTAINMENT TL B1 21
2 GTT COMMUNICATIONS TL B 20
3 COTY TL B 19
4 HARLAND CLARKE TL B7 18
5 TELENET EUR TL AQ 18
6 AKZONOBEL EUR TL B 17
7 ELSAN GROUPE EUR TL B 17
8 LUMILEDS TL B 17
9 AMERICAN AIRLINES TL B 17
10 EPIQ SYSTEMS TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 9/25/20 – 10/2/20

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 9/18/20 – 9/25/20

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

Sector Bid Offer Spread

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