Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 1/8/21

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 12/31/20 – 1/8/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B 0.07% 99.64 99.57 10
2 6,451 REFINITV TL B 0.13% 99.96 99.83 12
3 5,450 ENVISION HEALTHCARE TL B 0.68% 83.62 83.05 14
4 5,100 CHANGE HEALTHCARE TL B 0.75% 100.22 99.48 12
5 5,000 QWEST CORPORATION TL B 1.06% 99.91 98.86 12
6 4,750 DELL TL B 0.41% 100.41 100.00 17
7 4,750 ZAYO TL 0.64% 99.94 99.30 17
8 4,700 CAESARS RESORT COLLECTION TL B 1.14% 99.10 97.98 14
9 4,250 BERRY PLASTICS TL X 0.34% 100.00 99.66 10
10 3,582 MISYS TL B 1.09% 98.87 97.80 14
11 3,575 STARS GROUP TL B 0.09% 100.40 100.31 13
12 3,524 TRANSDIGM INC. TL F 1.54% 99.42 97.91 15
13 3,515 LIFEPOINT HOSPITALS TL B 0.52% 100.12 99.61 12
14 3,325 CINEWORLD TL B 6.29% 71.83 67.58 13
15 3,312 HUB INTL LTD TL B 1.18% 99.28 98.12 14
16 3,300 BMC SOFTWARE TL B 0.77% 100.24 99.48 18
17 3,300 NTL CABLE PLC TL N 0.90% 99.92 99.02 13
18 3,300 SINCLAIR BROADCAST GROUP INC. TL B -0.09% 87.99 88.07 11
19 3,275 SCIENTIFIC GAMES TL B5 1.09% 98.65 97.59 12
20 3,165 MULTIPLAN TL B 0.44% 99.89 99.46 11
AVERAGE 4,414 0.95% 96.97 96.13 13.2

Top 20 Winners

Showcases the top 20 loan “winners” based on the largest bid price increases between 12/31/20 – 1/8/21

RANK NAME CHANGE PX PX-1W
1 PEABODY ENERGY TL B 23.63% 46.86 37.91
2 CINEWORLD TL B 7.07% 71.56 66.84
3 INMAR 2ND LIEN TL 6.29% 78.67 74.02
4 PERSTORP TL 6.12% 95.43 89.93
5 HOLLAND & BARRETT GBP TL B 5.79% 92.10 87.06
6 ODYSSEY LOGISTICS & TECHNOLOGY 2ND LIEN TL 5.12% 89.99 85.61
7 PLAYA RESORTS TL B 4.90% 96.27 91.77
8 BISON MIDSTREAM TL B 4.78% 90.71 86.57
9 STAGE ENTERTAINMENT EUR TL B 4.64% 92.39 88.30
10 RADIO ONE TL B 4.56% 97.92 93.65
11 VERMAAT GROEP EUR TL B 4.51% 91.22 87.28
12 IMAGINA MEDIA AUDIOVISUAL SL EUR TL B 3.86% 88.87 85.57
13 MONITRONICS EXIT TL 3.81% 91.57 88.21
14 CRESTWOOD MIDSTREAM TL B 3.59% 78.23 75.52
15 ELECTRONICS FOR IMAGING TL 3.48% 87.94 84.98
16 ALSTOM SA EUR TL B 3.42% 82.62 79.89
17 EASTERN POWER TL B 3.40% 97.16 93.96
18 STETSON MIDSTREAM TL B 3.24% 92.28 89.38
19 ARCTIC GLACIER TL B 3.17% 91.77 88.95
20 GGP LP TL A2 2.76% 97.34 94.72

Avg Bid PX by Sector

Displays the average loan bid price by sector between 12/31/20 – 1/8/21

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 12/31/20 – 1/8/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 12/31/20 vs. the week ending 1/8/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ZAYO TL 48 96 48 100%
2 ZIGGO EUR TL H 14 62 48 343%
3 TELENET EUR TL 14 60 46 329%
4 TELENET TL 34 78 44 129%
5 SYNLAB EUR TL B 6 50 44 733%
6 AREAS EUR TL B1 8 52 44 550%
7 NESTLE SKIN HEALTH EUR TL B 10 52 42 420%
8 BMC SOFTWARE TL B 42 83 41 98%
9 AI PLEX ACQUICO EUR TL B 2 42 40 2000%
10 GENESYS TELECOM EUR TL B 6 46 40 667%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 12/31/20 – 1/8/21

RANK TRANCHE DEALERS
1 TELENET EUR TL 20
2 ZIGGO EUR TL H 19
3 SYNLAB EUR TL B3 19
4 EIRCOM FINCO SARL EUR TL B 19
5 VERISURE EUR TL B 18
6 BMC SOFTWARE TL B 18
7 SYNLAB EUR TL B 18
8 ELSAN GROUPE EUR TL B 17
9 SIGMA BIDCO EUR TL B 17
10 ZAYO TL 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 12/31/20 – 1/8/21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 12/31/20 – 1/8/21

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

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