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Syndicated Bank Loan Market Summary:
Week Ending 2/5/21

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 1/29/21 – 2/5/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 10,649 INOVYN EUR TL B 0.07% 99.41 99.34 10
2 6,451 REFINITV TL B -0.01% 99.86 99.88 10
3 5,450 ENVISION HEALTHCARE TL B -1.66% 84.43 85.85 15
4 5,100 CHANGE HEALTHCARE TL B -0.04% 100.12 100.17 11
5 5,000 QWEST CORPORATION TL B 0.18% 99.78 99.61 11
6 4,750 ZAYO TL 0.22% 99.85 99.62 15
7 4,750 DELL TL B 0.27% 100.42 100.16 16
8 4,700 CAESARS RESORT COLLECTION TL B 0.55% 98.57 98.03 14
9 4,250 BERRY PLASTICS TL Y 0.28% 100.03 99.75 13
10 4,246 PETSMART NON-CONSENTED TL B2 0.13% 99.89 99.77 10
11 3,582 MISYS TL B 0.63% 98.73 98.11 13
12 3,575 STARS GROUP TL B -0.09% 100.27 100.36 15
13 3,524 TRANSDIGM INC. TL F -0.15% 98.29 98.44 14
14 3,515 LIFEPOINT HOSPITALS TL B 0.35% 100.14 99.79 12
15 3,415 ENDO HEALTH TL B -0.08% 99.73 99.81 10
16 3,325 CINEWORLD TL B 2.78% 80.26 78.09 13
17 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B 0.04% 99.95 99.91 10
18 3,312 HUB INTL LTD TL B 0.08% 99.22 99.14 15
19 3,300 BMC SOFTWARE TL B 0.30% 100.10 99.80 16
20 3,300 SINCLAIR BROADCAST GROUP INC. TL B -3.60% 84.51 87.67 11
AVERAGE 4,475 0.01% 97.18 97.16 12.7

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 1/29/21 – 2/5/21

RANK NAME CHANGE PX PX-1W
1 CATALINA MARKETING EXIT PIK TL 22.34% 33.29 27.21
2 STEINHOFF EUROPE PIK 2ND LIEN EUR TL A2 11.83% 77.16 69.00
3 COLOUR BIDCO GBP TL 11.02% 86.61 78.01
4 FLAKT WOODS EUR TL B 9.70% 88.44 80.62
5 EQUINOX HLDGS INC 2ND LIEN TL 9.67% 77.41 70.58
6 SAMARCO MINERACAO TL 7.34% 68.35 63.67
7 DAYCO TL B 5.50% 89.08 84.44
8 HARLAND CLARKE TL B7 5.27% 94.06 89.34
9 ISAGENIX TL 4.14% 58.14 55.82
10 SGB-SMIT EUR TL B 3.33% 77.92 75.41

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 1/29/21 – 2/5/21

RANK NAME CHANGE PX PX-1W
1 MENS WEARHOUSE EXIT TL -11.86% 74.41 84.42
2 LIGHTSTONE GENERATION LLC TL B -4.54% 89.06 93.29
3 PEABODY ENERGY TL B -3.68% 48.15 49.99
4 SINCLAIR BROADCAST GROUP INC. TL B -3.60% 84.51 87.67
5 MILLER’S ALE HOUSE TL B -2.92% 92.06 94.83
6 AMC ENTERTAINMENT TL B1 -2.46% 80.83 82.87
7 BUCCANEER 2ND LIEN TL -2.35% 62.51 64.01
8 ALSTOM SA TL B2 -2.20% 78.58 80.35
9 ENVISION HEALTHCARE PIK  TL B -2.00% 79.84 81.47
10 UNIFRAX TL B -1.80% 93.68 95.40

Avg Bid PX by Sector

Displays the average loan bid price by sector between 1/29/21 – 2/5/21

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 1/29/21 – 2/5/21

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 1/29/21 vs. the week ending 2/5/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 UFC TL B 32 50 18 56%
2 WESTINGHOUSE TL B 8 26 18 225%
3 GTT COMMUNICATIONS DD PIK TL 0 16 16 N/A
4 B&B HOTELS 2ND LIEN EUR TL 14 28 14 100%
5 BIG ASS SOLUTIONS TL B 10 24 14 140%
6 CAMBREX CORP TL 12 26 14 117%
7 HOTELBEDS EUR REV 0 12 12 N/A
8 KANTAR REV 0 12 12 N/A
9 TULLOW OIL REV 6 18 12 200%
10 PRIMESOURCE BUILDING TL B 16 28 12 75%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 1/29/21 – 2/5/21

RANK TRANCHE DEALERS
1 TELENET EUR TL 20
2 SYNLAB EUR TL B 18
3 CEVA SANTE ANIMALE EUR TL B 18
4 TECHEM EUR TL B4 18
5 ZIGGO EUR TL H 18
6 VERISURE EUR TL B 18
7 NUMERICABLE EUR TL B12 18
8 GTT COMMUNICATIONS TL B 18
9 ELSAN GROUPE EUR TL B 18
10 EIRCOM FINCO SARL EUR TL B 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 1/29/21 – 2/5/21

Bid Offer Volume

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 1/29/21 – 2/5/21

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

Sector Bid Offer Spread

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