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Syndicated Bank Loan Market Summary:
August 2021

Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a monthly 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 monthly price movements and quote depth for the 20 largest bank loans between 8/1/21 – 8/31/21

RANK SIZE (MM) NAME CHANGE PX PX-1M DEALERS
1 5,450 ENVISION HEALTHCARE TL B 2.12% 87.15 85.34 15
2 5,100 CHANGE HEALTHCARE TL B 0.03% 99.77 99.74 11
3 5,000 QWEST CORPORATION TL B 0.41% 98.68 98.27 10
4 5,000 UNITED CONTINENTAL TL B 0.11% 100.18 100.06 14
5 4,750 ZAYO TL 0.38% 98.69 98.32 15
6 4,700 CAESARS RESORT COLLECTION TL B 0.39% 99.14 98.75 15
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B 0.41% 99.68 99.27 12
8 3,972 POWER SOLUTIONS TL B -0.28% 98.84 99.12 10
9 3,900 DIRECTV TL 0.23% 99.98 99.75 12
10 3,582 MISYS TL B 0.48% 98.74 98.27 15
11 3,524 TRANSDIGM INC. TL F 0.20% 98.37 98.17 13
12 3,515 LIFEPOINT HOSPITALS TL B 0.19% 99.27 99.08 13
13 3,380 SOLERA TL B 0.12% 99.95 99.83 15
14 3,338 ASURION TL B6 0.07% 98.88 98.81 11
15 3,325 CINEWORLD TL B -4.31% 77.64 81.13 11
16 3,312 HUB INTL LTD TL B 0.43% 98.85 98.42 15
17 3,300 SINCLAIR BROADCAST GROUP INC. TL B 13.53% 61.92 54.54 13
18 3,300 NTL CABLE PLC TL N 0.54% 98.97 98.43 11
19 3,275 SCIENTIFIC GAMES TL B5 0.72% 99.10 98.40 13
20 3,165 MULTIPLAN TL B 0.31% 99.61 99.30 13
AVERAGE 3,973 0.80% 95.67 95.15 12.9

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 8/1/21 – 8/31/21

RANK NAME CHANGE PX PX-1M
1 PREIT ASSOCIATES EXIT 2ND LIEN TL 27.66% 56.38 44.16
2 SINCLAIR BROADCAST GROUP INC. TL B 13.53% 61.92 54.54
3 LIMETREE BAY TL B 11.22% 81.57 73.33
4 STRIKE TL B 10.11% 95.56 86.78
5 STEINHOFF FIN. HLDG GMBH PIK EUR TL A1 8.82% 91.36 83.95
6 APPLE LEISURE TL 8.65% 99.62 91.69
7 ENVISION HEALTHCARE PIK  TL B 5.33% 83.99 79.74
8 PRAESIDIAD EUR TL B 4.73% 86.00 82.11
9 CONTURA ENERGY INC TL 4.39% 96.00 91.96
10 EXELA TL B 3.49% 73.44 70.97

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/1/21 – 8/31/21

RANK NAME CHANGE PX PX-1M
1 AMERIFORGE EXIT TL A -22.74% 49.13 63.60
2 YAK MAT 2ND LIEN TL B -8.17% 77.00 83.85
3 RODAN & FIELDS TL B -7.29% 73.14 78.89
4 RIVERBED TL B -5.54% 88.96 94.18
5 NBG HOME TL -4.29% 85.96 89.80
6 NATIONAL CINEMEDIA TL B -3.38% 87.47 90.54
7 AUDIO VISUAL TL B -3.36% 86.97 89.99
8 AREAS DD EUR TL -3.34% 81.43 84.24
9 PREMIERE GLOBAL TL -3.22% 37.24 38.48
10 STAPLES TL B1 -2.40% 94.56 96.89

Avg Bid PX by Sector

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

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 8/1/21 – 8/31/21

Top Quote Volume Movers: This Month vs Last Month

Exhibits the loans with the largest increase in quote volume for the month ending 7/31/21 vs. the month ending 8/31/21

RANK TRANCHE PRIOR MONTH THIS MONTH INCREASE % INCREASE
1 NAVITAS MIDSTREAM TL B 22 172 150 682%
2 HEALTHPORT TL 58 178 120 207%
3 EVERI PAYMENTS INC TL B 29 135 106 366%
4 CHARTER NEX TL B 240 343 103 43%
5 STYROLUTION TL B 136 239 103 76%
6 BROADSTREET PARTNERS TL B 119 218 99 83%
7 HARBOR FREIGHT TL B 362 457 95 26%
8 SABRE TL B2 160 254 94 59%
9 VISUAL COMFORT TL 108 196 88 81%
10 SABRE TL B 168 254 86 51%

Most Quoted Loans

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

RANK TRANCHE DEALERS
1 LUMILEDS TL B 19
2 ELSAN GROUPE EXT EUR TL B 18
3 SYNLAB EUR TL B5 18
4 ZIGGO EUR TL H 18
5 RACKSPACE HOSTING TL B 17
6 MITEL NETWORKS TL 17
7 CEVA SANTE ANIMALE EUR TL B 17
8 IFCO EUR TL B 17
9 CHEPLAPHARM ARZNEIMITTEL EUR TL B4 17
10 TECHEM EUR TL B4 17

Bid and Offer Volume

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

Sector Bid-Offer Spread

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

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

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