Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 12/3/21

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 11/26/21 – 12/3/21

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 7,270 MEDLINE TL B -0.18% 99.55 99.72 14
2 5,450 ENVISION HEALTHCARE TL B -0.47% 76.52 76.88 14
3 5,100 CHANGE HEALTHCARE TL B 0.03% 99.71 99.68 10
4 5,000 UNITED CONTINENTAL TL B -0.49% 99.67 100.15 12
5 4,750 ZAYO TL -0.13% 97.97 98.09 16
6 4,700 CAESARS RESORT COLLECTION TL B -0.33% 98.96 99.28 14
7 4,565 BAUSCH HEALTH COMPANIES INC. TL B -0.16% 99.01 99.17 11
8 4,197 AKZONOBEL TL B -0.15% 98.64 98.79 10
9 3,972 POWER SOLUTIONS TL B -0.09% 98.86 98.95 10
10 3,900 DIRECTV TL -0.22% 99.79 100.00 12
11 3,582 MISYS TL B -0.07% 99.09 99.16 15
12 3,524 TRANSDIGM INC. TL F -0.52% 98.03 98.54 15
13 3,515 LIFEPOINT HOSPITALS TL B -0.22% 99.06 99.29 13
14 3,500 PILOT TRAVEL TL B -0.14% 99.06 99.21 11
15 3,380 SOLERA TL B -0.12% 99.64 99.76 15
16 3,325 CINEWORLD TL B -2.20% 79.92 81.72 11
17 3,312 HUB INTL LTD TL B -0.29% 98.16 98.45 17
18 3,300 SINCLAIR BROADCAST GROUP INC. TL B 3.99% 43.00 41.35 11
19 3,300 NTL CABLE PLC TL N -0.06% 98.48 98.54 12
20 3,275 SCIENTIFIC GAMES TL B5 0.08% 99.25 99.17 12
AVERAGE 4,146 -0.09% 94.12 94.30 12.8

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 11/26/21 – 12/3/21

RANK NAME CHANGE PX PX-1W
1 AMEX GBT TL B 8.14% 96.37 89.12
2 LUMILEDS TL B 3.54% 76.58 73.96
3 NORWEGIAN CRUISE LINES TL A 2.79% 93.55 91.01
4 OGF(POMPES FUNEBRES GENERALE) EUR TL B 1.85% 98.05 96.27
5 LIMETREE BAY TL B 1.41% 88.62 87.39
6 LACES GROUP TL 0.96% 95.68 94.77
7 SINCLAIR BROADCAST GROUP INC. TL B2 0.83% 97.56 96.75
8 UNILABS EUR TL B2 0.72% 99.70 98.99
9 BUSY BEES EUR TL B 0.56% 99.12 98.57
10 COOPER STANDARD TL B 0.55% 92.99 92.48

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 11/26/21 – 12/3/21

RANK NAME CHANGE PX PX-1W
1 NSO GROUP TL -16.79% 58.04 69.75
2 CAREERBUILDER TL -4.61% 82.50 86.50
3 SERTA SIMMONS TL -4.41% 60.72 63.52
4 THE NORDAM GROUP TL B -4.24% 87.00 90.85
5 COLE HAAN TL B1 -4.20% 88.35 92.21
6 ZEP 2ND LIEN TL -3.68% 92.95 96.50
7 MATRIX MEDICAL TL -3.27% 95.99 99.24
8 AT&T COLOCATION TL -3.14% 82.84 85.52
9 USS PARENT TL B -3.00% 94.81 97.74
10 CINEWORLD TL B -2.83% 78.88 81.17

Avg Bid PX by Sector

Displays the average loan bid price by sector between 11/26/21 – 12/3/21

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 11/26/21 – 12/3/21

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 11/26/21 vs. the week ending 12/3/21

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ENVISION HEALTHCARE TL B 62 104 42 68%
2 TRANSDIGM INC. TL G 64 102 38 59%
3 ZAYO TL 78 116 38 49%
4 JAZZ PHARMA TL B 58 96 38 66%
5 LUMILEDS TL B 68 103 35 51%
6 LIFEPOINT HOSPITALS TL B 72 106 34 47%
7 ON SEMICONDUCTOR TL B 52 86 34 65%
8 SOLERA TL B 72 106 34 47%
9 BMC SOFTWARE TL B 72 106 34 47%
10 BERRY PLASTICS TL Z 72 105 33 46%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 11/26/21 – 12/3/21

RANK TRANCHE DEALERS
1 LUMILEDS TL B 20
2 NUMERICABLE EUR TL B12 18
3 ZIGGO EUR TL H 18
4 IFCO EUR TL B 18
5 SYNLAB EUR TL B5 18
6 BRAND ENERGY TL 18
7 NTL CABLE PLC EUR TL R 17
8 ACTION NEDERLAND EUR TL B 17
9 HUB INTL LTD TL B 17
10 GTT COMMUNICATIONS TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 11/26/21 – 12/3/21

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 11/26/21 – 12/3/21

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

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