Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 11/4/22
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 11/4/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| HUB Intl. LTD | 850 | Term Loan | 10/31/29 | S+400 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 10/28/22 – 11/04/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 5,000 | UNITED CONTINENTAL TL B | 0.41% | 97.67 | 97.27 | 13 |
| 2 | 4,750 | ZAYO TL | 1.14% | 80.94 | 80.02 | 12 |
| 3 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.15% | 98.85 | 98.70 | 12 |
| 4 | 4,463 | ULTIMATE SOFTWARE TL B | 0.44% | 96.52 | 96.10 | 10 |
| 5 | 3,900 | DIRECTV TL | 0.37% | 95.13 | 94.78 | 12 |
| 6 | 3,600 | CDK GLOBAL TL | 0.56% | 98.15 | 97.61 | 12 |
| 7 | 3,582 | MISYS TL B | 0.75% | 90.27 | 89.60 | 14 |
| 8 | 3,524 | TRANSDIGM INC. TL F | 0.66% | 98.05 | 97.41 | 16 |
| 9 | 3,515 | LIFEPOINT HOSPITALS TL B | 3.09% | 90.48 | 87.76 | 10 |
| 10 | 3,500 | AMERICAN AIRLINES TL B | 0.28% | 99.06 | 98.78 | 10 |
| 11 | 3,450 | GOLDEN NUGGET INC TL B | 1.20% | 94.22 | 93.10 | 10 |
| 12 | 3,400 | REFRESCO HOLDING EUR TL B | 0.22% | 94.47 | 94.26 | 12 |
| 13 | 3,380 | SOLERA TL B | 2.64% | 92.88 | 90.49 | 14 |
| 14 | 3,325 | CINEWORLD TL B | 15.61% | 32.81 | 28.38 | 15 |
| 15 | 3,312 | HUB INTL LTD TL B | -0.27% | 97.86 | 98.13 | 11 |
| 16 | 3,300 | NTL CABLE PLC TL N | -0.71% | 97.19 | 97.88 | 12 |
| 17 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | -6.02% | 18.45 | 19.63 | 11 |
| 18 | 3,100 | TRANSUNION TL B6 | 0.31% | 98.56 | 98.26 | 10 |
| 19 | 3,000 | WESTINGHOUSE TL B | 0.17% | 98.33 | 98.16 | 13 |
| 20 | 3,000 | DELTA SKYMILES TL B | 0.09% | 100.81 | 100.72 | 10 |
| AVERAGE | 3,651 | 1.05% | 88.53 | 87.85 | 12.0 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 10/28/22 – 11/4/22
| RANK | NAME | CHANGE | PX | PX-1W |
| 1 | CINEWORLD TL B | 15.61% | 32.81 | 28.38 |
| 2 | LIQUIBOX TL B | 8.09% | 97.08 | 89.81 |
| 3 | AVAYA TL B2 | 6.34% | 50.55 | 47.54 |
| 4 | GOODPACK 2ND LIEN TL B1 | 5.77% | 95.19 | 90.00 |
| 5 | FONCIA GROUPE EUR TL B | 5.69% | 91.65 | 86.72 |
| 6 | ORBITER GROUP EUR TL B | 5.05% | 93.37 | 88.88 |
| 7 | MODULAIRE EUR TL B | 4.75% | 90.03 | 85.94 |
| 8 | AI PLEX ACQUICO EUR TL B | 4.36% | 79.20 | 75.88 |
| 9 | SIGMA BIDCO GBP TL B4 | 4.30% | 80.41 | 77.09 |
| 10 | XELLA INTERNATIONAL GMBH EUR TL B | 4.14% | 82.30 | 79.03 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 10/28/22 – 11/4/22
| RANK | NAME | CHANGE | PX | PX-1W |
| 1 | REVLON TL B | -22.16% | 27.35 | 35.13 |
| 2 | NATIONAL CINEMEDIA TL B | -15.97% | 37.93 | 45.13 |
| 3 | GOPHER RESOURCE TL | -14.95% | 68.06 | 80.03 |
| 4 | CLARION EVENTS TL | -12.66% | 57.71 | 66.07 |
| 5 | US RENAL CARE EXT TL B | -10.21% | 61.40 | 68.38 |
| 6 | LABEYRIE EUR TL B | -5.16% | 66.45 | 70.06 |
| 7 | AMC ENTERTAINMENT TL B1 | -5.15% | 67.35 | 71.01 |
| 8 | CBS RADIO INC TL B | -4.36% | 75.59 | 79.03 |
| 9 | WEST MARINE 2ND LIEN TL B | -4.13% | 71.49 | 74.57 |
| 10 | WHEEL PROS TL | -3.42% | 70.50 | 72.99 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/23/22 – 9/30/22
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 10/28/22 – 11/4/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/28/22 vs. the week ending 11/4/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | CINEWORLD DIP DD TL | 0 | 70 | 70 | NA |
| 2 | PGS TL B | 0 | 22 | 22 | NA |
| 3 | UNIVISION TL C | 22 | 44 | 22 | 100% |
| 4 | CHAMBERLAIN GROUP TL B | 34 | 55 | 21 | 62% |
| 5 | ZAYO TL | 62 | 82 | 20 | 32% |
| 6 | PEABODY ENERGY TL B | 52 | 70 | 18 | 35% |
| 7 | WEBER-STEPHEN TL B | 52 | 70 | 18 | 35% |
| 8 | LOGMEIN TL B | 59 | 76 | 17 | 29% |
| 9 | LEARFIELD TL B | 36 | 52 | 16 | 44% |
| 10 | FINANCIERE CEP EUR TL B | 22 | 38 | 16 | 73% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/28/22 – 11/4/22
| RANK | TRANCHE | DEALERS |
| 1 | CINEWORLD TL B | 19 |
| 2 | AMC ENTERTAINMENT TL B1 | 18 |
| 3 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 17 |
| 4 | SIGMA BIDCO GBP TL B4 | 17 |
| 5 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 6 | TRANSDIGM INC. TL E | 17 |
| 7 | VERISURE EUR TL B | 17 |
| 8 | BMC SOFTWARE TL B | 17 |
| 9 | TRANSDIGM INC. TL G | 17 |
| 10 | STADA ARZNEIMITTEL EUR TL F | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/28/22 – 11/4/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/23/22 – 9/30/22
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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