---
title: Syndicated Bank Loan Market Summary - Week Ending 4/9/20
description: Solve's Bank Loan Market Summary provides insight into trends within the overall market as well as certain sectors, ranks loan winners and losers, & more!
image: https://blog.solvefixedincome.com/hubfs/Loan%20Summaries/2020-4-6/Avg%20Bid%20PX%20by%20Sector%20-%204.6.20.png
---

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# Solve Advisors Syndicated Bank Loan Market Summaries

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# Syndicated Bank Loan Market Summary - Week Ending 4/9/20

[Michael Pellerito](https://www.linkedin.com/in/michael-pellerito/), April 13, 2020

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---

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

1. [Top 20 Largest Loans](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#LargestLoans)
2. [Top 10 Loan Price Winners](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#winners)
3. [Top 10 Loan Price Losers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#Top10Losers)
4. [Average Bid Price](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#AvBidPX) (By industry sector)
5. [Market Sentiment](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#Sentiment)
6. [Top Quote Volume Movers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#Movers)
7. [Most Quoted Loans](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#MostQuoted)
8. [Bid and Offer Volume](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#BidOfferVolume)
9. [Bid Offer Spread](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/april-13-2020#Spread) (By industry sector)

 

| **LARGEST LOANS** |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |
| **Rank** | **Size (MM)** | **Name** | **Chg** | **Price** | **Price - 1W** | ** Dealers** |
| **1** | **5,450** | **ENVISION HEALTHCARE TL B** | **12.48%** | **55.74** | **49.55** | **15** |
| **2** | **4,750** | **DELL TL B** | **3.17%** | **97.75** | **94.75** | **12** |
| **3** | **4,700** | **CAESARS RESORT COLLECTION TL** | **4.43%** | **86.08** | **82.43** | **12** |
| **4** | **4,250** | **BERRY PLASTICS TL Y** | **1.90%** | **96.61** | **94.80** | **12** |
| **5** | **3,861** | **PETSMART CONSENTED TL B2** | **2.16%** | **97.20** | **95.15** | **12** |
| **6** | **3,582** | **MISYS TL B** | **7.86%** | **87.94** | **81.53** | **12** |
| **7** | **3,575** | **STARS GROUP TL B** | **2.29%** | **96.61** | **94.45** | **10** |
| **8** | **3,415** | **ENDO HEALTH TL B** | **5.64%** | **91.91** | **87.00** | **10** |
| **9** | **3,325** | **CINEWORLD TL B** | **2.49%** | **66.38** | **64.77** | **16** |
| **10** | **3,300** | **BMC SOFTWARE TL B** | **5.73%** | **86.03** | **81.37** | **15** |
| **11** | **3,300** | **NTL CABLE PLC TL N** | **2.48%** | **95.31** | **93.00** | **12** |
| **12** | **3,300** | **DIAMOND SPORTS TL B** | **-2.04%** | **72.42** | **73.94** | **10** |
| **13** | **3,275** | **SCIENTIFIC GAMES TL B5** | **7.22%** | **83.30** | **77.70** | **13** |
| **14** | **3,210** | **HUB INTL LTD TL B** | **2.15%** | **93.60** | **91.63** | **10** |
| **15** | **3,165** | **MULTIPLAN TL B** | **5.44%** | **92.02** | **87.28** | **12** |
| **16** | **3,161** | **JAGUAR HOLDING CO I TL** | **2.51%** | **97.68** | **95.29** | **12** |
| **17** | **2,918** | **AVAYA TL B** | **10.16%** | **91.54** | **83.10** | **10** |
| **18** | **2,902** | **FORMULA ONE TL B** | **5.00%** | **92.30** | **87.91** | **12** |
| **19** | **2,851** | **INTEL TL** | **5.09%** | **96.94** | **92.25** | **11** |
| **20** | **2,825** | **BRAND ENERGY TL** | **3.93%** | **82.78** | **79.65** | **10** |
| **AVERAGE** | **3,556** |   | **4.50%** | **88.01** | **84.38** | **11.9** |

- Highlights the weekly price movements and quote depth for the 20 largest bank loans

| **TOP 10 WINNERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1W** |
| **1** | **SWISSPORT TL B** | **29.70%** | **64.87** | **50.01** |
| **2** | **BUCCANEER 2ND LIEN TL** | **19.36%** | **37.47** | **31.39** |
| **3** | **FLINT GROUP TL C** | **19.25%** | **74.84** | **62.76** |
| **4** | **NEUSTAR 2ND LIEN TL B** | **17.73%** | **56.77** | **48.22** |
| **5** | **ORYX SOUTHERN TL B** | **16.40%** | **65.35** | **56.14** |
| **6** | **DELEK TL B** | **16.28%** | **84.64** | **72.79** |
| **7** | **VYAIRE MEDICAL TL B** | **14.20%** | **79.94** | **70.00** |
| **8** | **SIVANTOS TL B** | **13.18%** | **85.27** | **75.34** |
| **9** | **DOUGLAS HOLDING EUR TL B1** | **13.00%** | **60.15** | **53.23** |
| **10** | **GVC HOLDINGS TL B** | **12.93%** | **96.36** | **85.33** |

- Showcases the top 10 loan "winners" based on the largest bid price increases between 4/3/20 - 4/9/20

| **TOP 10 LOSERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1W** |
| **1 ** | **TOWN SPORTS TL B** | **-49.31%** | **21.80** | **43.00** |
| **2** | **IMAGINA MEDIA AUDIOVISUAL SL 2ND LIEN EUR TL** | **-24.85%** | **46.90** | **62.41** |
| **3 ** | **LEARNING CARE TL B** | **-20.74%** | **62.01** | **78.24** |
| **4 ** | **PROGREXION TL** | **-16.13%** | **37.97** | **45.26** |
| **5 ** | **UNIFRAX TL B** | **-13.80%** | **67.45** | **78.25** |
| **6 ** | **KETTLE CUISINE TL** | **-11.22%** | **70.94** | **79.90** |
| **7 ** | **BLUESTEM EXT TL B** | **-10.57%** | **50.92** | **56.94** |
| **8 ** | **PEAK 10 2ND LIEN TL** | **-9.72%** | **36.00** | **39.87** |
| **9 ** | **COLORADO BUYER 2ND LIEN TL** | **-9.47%** | **30.35** | **33.52** |
| **10 ** | **LEARFIELD TL** | **-9.19%** | **63.33** | **69.74** |

- Showcases the top 10 loan "losers" based on the largest bid price decreases between 4/3/20 - 4/9/20

 

 ![Avg Bid by Sector](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-4-13/Avg%20Bid%20by%20Sector%20-%204.13.20.png?width=634&name=Avg%20Bid%20by%20Sector%20-%204.13.20.png)

- Displays the average loan bid price by sector between 4/3/20 - 4/9/20 
    - Results are based on 5 select industry sectors, however, we offer data across 36 sectors

  

![Market Sentiment - Advancers vs. Decliners](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-4-13/Sentiment%20-%204.13.20.png?width=622&name=Sentiment%20-%204.13.20.png)

- Reveals the percent of loans increasing in price *(advancers)* vs. loans decreasing in price *(decliners)* between 4/3/20 - 4/9/20

| **TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK** |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| **RANK** | **TRANCHE** | **PRIOR WEEK** | **THIS WEEK** | **INCREASE** | **% INCREASE** |
| **1** | **EPIQ SYSTEMS TL B** | **22** | **46** | **24** | **109%** |
| **2** | **WTG HOLDINGS TL** | **0** | **18** | **18** | **N/A** |
| **3** | **QUORUM HEALTH TL** | **0** | **16** | **16** | **N/A** |
| **4** | **CAMPING WORLD TL B** | **41** | **55** | **14** | **34%** |
| **5** | **LIFEPOINT HOSPITALS TL B** | **20** | **33** | **13** | **65%** |
| **6** | **USI HOLDINGS TL B** | **12** | **25** | **13** | **108%** |
| **7** | **WENDY'S INTERNATIONAL, LLC TL B** | **19** | **31** | **12** | **63%** |
| **8** | **TOTAL SAFETY TL** | **12** | **24** | **12** | **100%** |
| **9** | **BURGER KING TL B** | **26** | **38** | **12** | **46%** |
| **10** | **DYNCORP TL B** | **2** | **13** | **11** | **550%** |

- Exhibits the loans with the largest increase in quote volume for the week ending 4/3/20 vs. the week ending 4/9/20

| **MOST QUOTED LOANS** |  |  |
| --- | --- | --- |
| **RANK** | **TRANCHE** | **DEALERS** |
| **1** | **ENVISION HEALTHCARE TL B** | **18** |
| **2** | **TRANSDIGM INC. TL F** | **18** |
| **3** | **CINEWORLD TL B** | **17** |
| **4** | **VERISURE EUR TL B1** | **17** |
| **5** | **EIRCOM FINCO SARL EUR TL B** | **17** |
| **6** | **AMERICAN AIRLINES TL B** | **17** |
| **7** | **HILTON TL B** | **17** |
| **8** | **PARTY CITY TL B** | **16** |
| **9** | **BMC SOFTWARE TL B** | **16** |
| **10** | **GTT COMMUNICATIONS TL B** | **16** |

- Ranks the loans that were quoted by the highest number of dealers between 4/3/20 - 4/9/20

 

 ![Bid Offer Volume](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-4-13/Bid%20Offer%20Volume%20-%204.13.20.png?width=606&name=Bid%20Offer%20Volume%20-%204.13.20.png)

- Reveals the total number of quotes by bid and offer between 4/3/20 - 4/9/20

 

 ![Sector Bid Offer Spread](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-4-13/Sector%20Bid%20Offer%20Spread%20-%204.13.20.png?width=612&name=Sector%20Bid%20Offer%20Spread%20-%204.13.20.png)

- Displays the bid-offer spread by sector between 4/3/20 - 4/9/20 
    - Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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