Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 5/20/22

Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.

New Issues

Loans issued during the week ending 5/20/22

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Twin River Worldwide Hldgs. Inc. N/A Term Loan 10/2/2028 L+325
Peloton Interactive Inc. 750 Term Loan 5/17/2027 S+650
Barracuda Networks Inc. 455 Term Loan 4/28/2030 S+700

Forward Calendar

List of upcoming syndicated loan being marketed in the United States as of 5/20/22

ISSUER DEAL INFORMATION BANKS EXPECTED ISSUE DATE
Mallinckrodt PLC $900MM TLB (B3/B) MS, MUFG, BCLY, DB Q2 2022
Opry Entertainment Group $300MM TLB (B2/B) JPM,MS Q2 2022

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/13/22 – 5/20/22

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 7,270 MEDLINE TL B -1.21% 94.52 95.68 11
2 5,450 ENVISION HEALTHCARE TL B -12.04% 40.27 45.78 17
3 5,160 INTEL TL -1.03% 92.30 93.27 11
4 5,000 UNITED CONTINENTAL TL B -0.08% 96.11 96.18 10
5 4,750 ZAYO TL -0.62% 90.03 90.60 14
6 4,700 CAESARS RESORT COLLECTION TL B -0.31% 97.01 97.32 14
7 4,463 ULTIMATE SOFTWARE TL B -0.64% 95.79 96.41 11
8 4,197 AKZONOBEL TL B -0.18% 95.43 95.60 10
9 3,900 DIRECTV TL -0.65% 94.32 94.93 12
10 3,582 MISYS TL B -1.05% 92.15 93.13 12
11 3,524 TRANSDIGM INC. TL F 0.99% 96.48 95.53 14
12 3,515 LIFEPOINT HOSPITALS TL B -0.47% 95.72 96.16 12
13 3,500 AMERICAN AIRLINES TL B -0.93% 98.00 98.91 10
14 3,500 PILOT TRAVEL TL B -0.55% 95.94 96.47 10
15 3,450 GOLDEN NUGGET INC TL B 0.42% 95.54 95.14 12
16 3,380 SOLERA TL B -0.61% 94.94 95.52 13
17 3,325 CINEWORLD TL B -1.73% 69.65 70.87 14
18 3,312 HUB INTL LTD TL B -0.12% 95.35 95.46 14
19 3,300 NTL CABLE PLC TL N 0.56% 96.54 96.01 11
20 3,100 JAZZ PHARMA TL B -0.92% 96.92 97.83 11
AVERAGE 4,119 -1.06% 91.15 91.84 12.2

Top 10 Winners

Showcases the top 10 loan “winners” based on the largest bid price increases between 5/13/22 – 5/20/22

RANK NAME CHANGE PX PX-1W
1 HARLAND CLARKE TL B 14.58% 80.75 70.47
2 NATIONAL CINEMEDIA TL B 2.82% 84.21 81.89
3 CALIBER COLLISION TL 2.09% 93.75 91.83
4 MONOTYPE IMAGING TL B 1.78% 97.59 95.88
5 WIDEOPENWEST TL B 1.53% 98.09 96.61
6 EIG INVESTORS TL B 1.40% 92.18 90.91
7 TECTUM HOLDINGS INC TL B 1.03% 90.74 89.82
8 KIK CUSTOM TL B 0.99% 92.12 91.22
9 TRANSDIGM INC. TL F 0.99% 96.48 95.53
10 SEMINOLE TRIBE OF FLORIDA TL B 0.97% 99.69 98.73

Top 10 Losers

Showcases the top 10 loan “losers” based on the largest bid price decreases between 5/13/22 – 5/20/22

RANK NAME CHANGE PX PX-1W
1 ATLAS GROUP TL -13.15% 79.92 92.02
2 SERTA SIMMONS SO TL -12.48% 75.80 86.61
3 PETMATE TL -8.54% 89.65 98.03
4 VERIFONE TL B -6.26% 87.76 93.62
5 DAYCO TL B -5.15% 92.14 97.14
6 WP CPP 2ND LIEN TL -4.75% 88.40 92.81
7 BRAND ENERGY TL -4.61% 86.10 90.26
8 NATIONAL MENTOR DD TL -3.47% 88.33 91.50
9 WINDSTREAM SERVICES LLC EXIT TL B -3.46% 93.74 97.10
10 LANDESK TL B -2.90% 91.33 94.06

Avg Bid PX by Sector

Displays the average loan bid price by sector between 5/13/22 – 5/20/22

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 5/13/22 – 5/20/22

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 5/13/22 vs. the week ending 5/20/22

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 EIRCOM FINCO SARL EUR TL B 26 53 27 104%
2 TMF GROUP HOLDING BV EUR TL B 16 42 26 163%
3 ZIGGO EUR TL H 34 58 24 71%
4 WEBHELP EUR TL B 12 32 20 167%
5 NTL CABLE PLC EUR TL B 32 52 20 63%
6 MATTERHORN MOBILE EUR TL B 18 36 18 100%
7 NUMERICABLE EUR TL B11 44 62 18 41%
8 NORD ANGLIA EDUCATION FINANC EUR TL B 26 42 16 62%
9 FONCIA GROUPE EUR TL B 22 38 16 73%
10 SKYSCRAPER PERFORMANCE EUR TL B 20 34 14 70%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 5/13/22 – 5/20/22

RANK TRANCHE DEALERS
1 LUMILEDS TL B 20
2 ENVISION HEALTHCARE TL B 19
3 ACTION NEDERLAND EUR TL B 18
4 IFCO EUR TL B 18
5 STADA ARZNEIMITTEL EUR TL F 18
6 DOUGLAS HOLDING EUR TL B 18
7 ZIGGO EUR TL H 17
8 DAE AVIATION TL 17
9 FONCIA GROUPE EUR TL B 17
10 HARLAND CLARKE TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 5/13/22 – 5/20/22

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 5/13/22 – 5/20/22

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

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