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Syndicated Bank Loan Market Summary:
Week Ending 7/2/21

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 6/25/21 – 7/2/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B N/A 85.41 85.41 13
2 5,100 CHANGE HEALTHCARE TL B 0.02% 99.85 99.83 14
3 5,000 QWEST CORPORATION TL B -0.25% 98.51 98.75 10
4 5,000 UNITED CONTINENTAL TL B -0.09% 101.28 101.37 13
5 4,750 ZAYO TL -0.12% 98.82 98.94 16
6 4,700 CAESARS RESORT COLLECTION TL B 0.12% 99.19 99.07 14
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.03% 99.55 99.58 13
8 4,197 AKZONOBEL TL B -0.17% 99.17 99.34 10
9 3,582 MISYS TL B -0.05% 98.39 98.43 14
10 3,575 STARS GROUP TL B -0.04% 100.05 100.09 15
11 3,524 TRANSDIGM INC. TL F -0.02% 98.48 98.50 15
12 3,515 LIFEPOINT HOSPITALS TL B -0.04% 99.74 99.79 14
13 3,500 AMERICAN AIRLINES TL B 0.16% 104.23 104.07 10
14 3,380 SOLERA TL B 0.01% 100.27 100.26 13
15 3,338 ASURION TL B6 0.07% 99.53 99.46 10
16 3,325 CINEWORLD TL B -0.68% 87.52 88.12 13
17 3,312 HUB INTL LTD TL B 0.02% 98.84 98.82 17
18 3,300 SINCLAIR BROADCAST GROUP INC. TL B -4.57% 59.32 62.16 11
19 3,300 NTL CABLE PLC TL N -0.09% 99.06 99.15 12
20 3,275 SCIENTIFIC GAMES TL B5 0.39% 99.21 98.82 13
AVERAGE 3,984   -0.27% 96.32 96.50 13.0

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 6/25/21 – 7/2/21

RANK NAME CHANGE PX PX-1W
1 EXELA TL B 68.64% 68.14 40.41
2 FIELDWOOD ENERGY TL 12.48% 50.77 45.13
3 DONCASTERS PIK TL 8.23% 92.93 85.86
4 CORRECT CARE 2ND LIEN TL 5.73% 95.15 90.00
5 CIBT HOLDINGS TL 4.83% 85.50 81.56
6 OUTERSTUFF TL B 4.47% 71.48 68.42
7 EPIC CRUDE TL B 3.46% 78.71 76.07
8 NSO GROUP TL 3.18% 89.86 87.09
9 CBL & ASSOCIATES TL A 2.50% 81.83 79.84
10 ALLIANCE HEALTH TL B 2.49% 98.70 96.30

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 6/25/21 – 7/2/21

RANK NAME CHANGE PX PX-1W
1 SINCLAIR BROADCAST GROUP INC. TL B -4.57% 59.32 62.16
2 STEINHOFF EUROPE PIK EUR TL A1 -3.46% 101.27 104.89
3 TALEN ENERGY SUPPLY LLC TL B -2.10% 92.83 94.82
4 SERTA SIMMONS TL -2.09% 67.42 68.85
5 SIGMA BIDCO PLN TL B3 -1.65% 94.79 96.39
6 HOTELBEDS EUR TL C -1.41% 90.21 91.50
7 AREAS EUR TL B1 -1.39% 89.79 91.06
8 ALSTOM SA TL B2 -1.01% 80.81 81.64
9 IMAGINA MEDIA AUDIOVISUAL SL EUR TL A1 -0.96% 93.33 94.24
10 B&B HOTELS EUR TL B -0.93% 95.81 96.71

Avg Bid PX by Sector

Displays the average loan bid price by sector between 6/25/21 – 7/2/21

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

Avg Bid Px by Sector - 7.6.21

Sentiment

Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 6/25/21 – 7/2/21

Sentiment - 7.6.21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 6/25/21 vs. the week ending 7/2/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 LGC TL B 8 36 28 350%
2 NATIONAL MENTOR TL C 2 30 28 1400%
3 SIGMA BIDCO EUR REV 0 24 24 N/A
4 SOCOTEC EUR TL B 0 20 20 N/A
5 NTL CABLE PLC EUR TL B 60 78 18 30%
6 HARLAND CLARKE TL B7 66 84 18 27%
7 AUDIO VISUAL 2ND LIEN TL 21 38 17 81%
8 CIBT HOLDINGS TL 38 54 16 42%
9 DOUGLAS HOLDING EUR TL B 44 60 16 36%
10 IMAGINA MEDIA AUDIOVISUAL SL EUR TL A2 22 38 16 73%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 6/25/21 – 7/2/21

RANK TRANCHE DEALERS
1 LUMILEDS TL B 21
2 ELSAN GROUPE EXT EUR TL B 19
3 BIOGROUP DD EUR TL B 19
4 RACKSPACE HOSTING TL B 18
5 VERISURE EUR TL B 18
6 SYNLAB EUR TL B5 18
7 PLAYA RESORTS TL B 18
8 CEVA SANTE ANIMALE EUR TL B 18
9 ZIGGO EUR TL H 18
10 TECHEM EUR TL B4 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 6/25/21 – 7/2/21

Bid Offer Volume - 7.6.21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 6/25/21 – 7/2/21

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

Sector Bid Offer Spread - 7.6.21

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