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Syndicated Bank Loan Market Summary:
Week Ending 7/23/21

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 7/16/21 – 7/23/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 5,450 ENVISION HEALTHCARE TL B -0.54% 84.79 85.25 13
2 5,100 CHANGE HEALTHCARE TL B -0.06% 99.85 99.91 13
3 5,000 QWEST CORPORATION TL B -0.08% 98.45 98.53 10
4 5,000 UNITED CONTINENTAL TL B -0.82% 100.44 101.27 13
5 4,750 ZAYO TL N/A 98.63 98.63 14
6 4,700 CAESARS RESORT COLLECTION TL B -0.19% 98.96 99.15 14
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.13% 99.46 99.59 12
8 3,582 MISYS TL B -0.43% 98.32 98.75 14
9 3,575 STARS GROUP TL B -0.23% 99.78 100.01 15
10 3,524 TRANSDIGM INC. TL F -0.10% 98.43 98.53 14
11 3,515 LIFEPOINT HOSPITALS TL B -0.15% 99.59 99.74 14
12 3,500 AMERICAN AIRLINES TL B -0.65% 103.62 104.30 12
13 3,380 SOLERA TL B -0.08% 99.99 100.08 14
14 3,325 CINEWORLD TL B -0.69% 81.51 82.08 12
15 3,315 REYNOLDS GROUP HOLDINGS LIMITED TL B -0.12% 99.72 99.84 10
16 3,312 HUB INTL LTD TL B -0.19% 98.58 98.77 15
17 3,300 NTL CABLE PLC TL N -0.23% 98.72 98.95 12
18 3,300 SINCLAIR BROADCAST GROUP INC. TL B -0.81% 55.02 55.47 12
19 3,275 SCIENTIFIC GAMES TL B5 -0.51% 98.67 99.18 12
20 3,165 MULTIPLAN TL B -0.08% 99.45 99.53 13
AVERAGE 3,932   -0.31% 95.60 95.88 12.9

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 7/16/21 – 7/23/21

RANK NAME CHANGE PX PX-1W
1 WORLDSTRIDES PIK HOLDCO TL 13.01% 61.26 54.21
2 MITEL NETWORKS 2ND LIEN TL 3.91% 62.99 60.62
3 SAMARCO MINERACAO TL 3.86% 67.95 65.43
4 AMERICAN AIRLINES TL B 2.42% 99.51 97.16
5 FLEETPRIDE 2ND LIEN TL 2.10% 96.83 94.84
6 CVENT TL B 1.87% 99.67 97.84
7 UNIFRAX 2ND LIEN TL 1.46% 97.98 96.58
8 RSA SECURITY LLC DD 2ND LIEN TL 1.39% 99.62 98.25
9 AIR CANADA TL B 1.13% 99.61 98.50
10 BIOPLAN PIK TL B 1.11% 94.00 92.97

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 7/16/21 – 7/23/21

RANK NAME CHANGE PX PX-1W
1 EXELA TL B -5.71% 73.69 78.15
2 CINEWORLD TL B -3.18% 80.81 83.47
3 WORLDSTRIDES EXIT PIK SO TL -3.01% 93.36 96.26
4 LUMILEDS TL B -2.83% 80.41 82.75
5 STEINHOFF FIN. HLDG GMBH PIK EUR TL A2 -2.23% 71.65 73.28
6 AUDIO VISUAL TL B1 -1.81% 90.21 91.87
7 EPIC CRUDE TL B -1.75% 76.45 77.82
8 NATIONAL CINEMEDIA TL B -1.57% 90.04 91.48
9 STADIUM MANAGEMENT TL -1.53% 94.68 96.16
10 PREMIERE GLOBAL TL -1.52% 38.79 39.39

Avg Bid PX by Sector

Displays the average loan bid price by sector between 7/16/21 – 7/23/21

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

Avg Bid Px by Sector - 7.26.21

Sentiment

Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 7/16/21 – 7/23/21

Sentiment - 7.26.21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 7/16/21 vs. the week ending 7/23/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GVC HOLDINGS TL B 2 28 26 1300%
2 STYROLUTION TL B 44 66 22 50%
3 XPLORNET TL B 18 38 20 111%
4 ICON PLC TL 28 48 20 71%
5 MEDIWARE TL B 64 83 19 30%
6 HILDING ANDERS PIK EUR TL B 12 30 18 150%
7 CALIBER COLLISION TL 78 96 18 23%
8 CHANGE HEALTHCARE TL B 51 69 18 35%
9 COREL TL 20 38 18 90%
10 WHEELS UP FIN TL B 6 24 18 300%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 7/16/21 – 7/23/21

RANK TRANCHE DEALERS
1 LUMILEDS TL B 22
2 ELSAN GROUPE EXT EUR TL B 19
3 BIOGROUP DD EUR TL B 19
4 VERISURE EUR TL B 18
5 SYNLAB EUR TL B5 18
6 CERBA HEALTHCARE EUR TL B 18
7 CEVA SANTE ANIMALE EUR TL B 18
8 WEBHELP EUR TL B 18
9 ZIGGO EUR TL H 18
10 AI SIRONA LUXEMBOURG ACQUISITION SARL EUR TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 7/16/21 – 7/23/21

BO Volume - 7.26.21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 7/16/21 – 7/23/21

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

Sector Bid Offer Spread - 7.26.21

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