---
title: Syndicated Bank Loan Market Summary - Week Ending 3/27/20
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/2020-3-16/Avg%20PX%20by%20Sector%20-%203.16.20.png
---

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# Solve Advisors Syndicated Bank Loan Market Summaries

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# Syndicated Bank Loan Market Summary - Week Ending 3/27/20

[Michael Pellerito](https://www.linkedin.com/in/michael-pellerito/), March 30, 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/mar-30-2020#LargestLoans)
2. [Top 10 Loan Price Winners](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#winners)
3. [Top 10 Loan Price Losers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#Top10Losers)
4. [Average Bid Price](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#AvBidPX) (By industry sector)
5. [Market Sentiment](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#Sentiment)
6. [Top Quote Volume Movers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#Movers)
7. [Most Quoted Loans](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#MostQuoted)
8. [Bid and Offer Volume](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#BidOfferVolume)
9. [Bid Offer Spread](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/mar-30-2020#Spread) (By industry sector)

 

| **LARGEST LOANS** |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| **Rank** | **Size (MM)** | **Name** | **Chg** | **Price** | **Price - 1W** |
| **1** | **4,197** | **AKZONOBEL TL B** | **15.48%** | **85.34** | **73.90** |
| **2** | **3,843** | **CHANGE HEALTHCARE TL B** | **9.55%** | **89.46** | **81.66** |
| **3** | **3,415** | **ENDO HEALTH TL B** | **7.43%** | **87.27** | **81.23** |
| **4** | **3,338** | **ASURION TL B6** | **5.67%** | **88.98** | **84.20** |
| **5** | **2,380** | **VERISURE EUR TL B1** | **8.43%** | **89.92** | **82.93** |
| **6** | **2,260** | ** MCDERMOTT TL B** | ** -6.42%** | **32.37 ** | **34.59 ** |
| **7** | **2,250** | **BUCKEYE TL B** | **2.44%** | **85.04** | **83.01** |
| **8** | **2,250** | **ZIGGO EUR TL H** | **9.41%** | **88.37** | **85.60** |
| **9** | **2,180** | **FRONERI EUR TL B** | **2.04%** | **87.35** | **85.60** |
| **10** | **2,150** | **NUMERICABLE TL B12** | **10.25%** | **87.25** | **79.14** |
| **11** | **2,105** | **STADA ARZNEIMITTEL EUR TL F** | **1.28%** | **83.80** | **82.74** |
| **12** | **2,060** | **INEOS FIN EUR TL B** | **6.17%** | **85.02** | **80.08** |
| **13** | **2,000** | **MACDONALD DETTWILER TL B** | **-8.54%** | **81.53** | **89.14** |
| **14** | **2,000** | **CEVA SANTE ANIMALE EUR TL B** | **5.94%** | **84.35** | **79.62** |
| **15** | **1,955** | **POWER SOLUTIONS EUR TL B** | **-0.04%** | **79.48** | **79.51** |
| **16** | **1,955** | **WESTJET TL** | **5.02%** | **71.24** | **67.84** |
| **17** | **1,900** | **TDC EUR TL B** | **10.69%** | **89.49** | **80.84** |
| **18** | **1,900** | **GARDNER DENVER TL B** | **-8.13%** | **81.51** | **88.72** |
| **19** | **1,880** | **ALTRAN TECHNOLOGIES EUR TL B** | **2.01%** | **90.20** | **88.42** |
| **20** | **1,860** | **NETS HOLDINGS EUR TL B1** | **-12.10%** | **79.73** | **90.71** |
| **AVERAGE** | **2,394** |  | **3.33%** | **82.38** | **79.73** |

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

| **TOP 10 WINNERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1W** |
| **1** | **MERLIN ENTERTAINMENTS EUR TL** | **18.13%** | **87.98** | **74.48** |
| **2** | **FORMULA ONE TL B** | **16.91%** | **89.47** | **76.53** |
| **3** | **CAESARS RESORT COLLECTION TL** | **15.62%** | **78.79** | **68.14** |
| **4** | **TRAVELPORT TL B** | **15.52%** | **59.62** | **51.61** |
| **5** | **AKZONOBEL TL B** | **15.48%** | **85.34** | **73.90** |
| **6** | **ARAMARK SERVICES, INC. TL B3** | **15.20%** | **90.60** | **78.65** |
| **7** | **NTL CABLE PLC EUR TL O** | **14.97%** | **92.24** | **80.22** |
| **8** | **ALCOA INC TL B** | **14.42%** | **88.20** | **77.08** |
| **9** | **AMNEAL PHARMACEUTIAL TL B** | **14.30%** | **79.70** | **69.72** |
| **10** | **NTL CABLE PLC GBP TL L** | **14.20%** | **91.14** | **79.80** |

- Showcases the top 10 loan "winners" based on the largest bid price increases between  3/20/20 - 3/27/20

| **TOP 10 LOSERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1W** |
| **1 ** | **INTERNAP PIK TL B** | **-46.51%** | **25.52** | **47.71** |
| **2** | **24 HOUR FITNESS TL B** | **-46.26%** | **21.98** | **40.90** |
| **3 ** | **CALIFORNIA PIZZA 2ND LIEN TL** | **-41.03%** | **36.07** | **61.16** |
| **4 ** | **ASCENA RETAIL TL B** | **-38.17%** | **29.35** | **47.47** |
| **5 ** | **STEINHOFF INTERNATIONAL TL B2** | **-33.84%** | **40.96** | **61.90** |
| **6 ** | **UTEX TL B** | **-33.08%** | **32.70** | **48.86** |
| **7 ** | **NEIMAN MARCUS TL** | **-32.13%** | **41.62** | **61.33** |
| **8 ** | **B&B HOTELS EUR TL B** | **-30.74%** | **59.18** | **85.45** |
| **9 ** | **JC PENNEY TL B** | **-28.42%** | **55.42** | **77.43** |
| **10 ** | **DIVERSEY EUR TL** | **-28.35%** | **67.00** | **93.51** |

- Showcases the top 10 loan "losers" based on the largest bid price decreases between 3/20/20 - 3/27/20

 

 ![Avg Bid PX by Sector](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-3-30/Avg%20Bid%20PX%20by%20Sector%20-%203.30.20.png?width=634&name=Avg%20Bid%20PX%20by%20Sector%20-%203.30.20.png)

- Displays the average loan bid price by sector between  3/20/20 - 3/27/20 
    - 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/2020-3-30/Sentiment%20-%203.30.20.png?width=622&name=Sentiment%20-%203.30.20.png)

- Reveals the percent of loans increasing in price *(advancers)* vs. loans decreasing in price *(decliners)* between  3/20/20 - 3/27/20

| **TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK** |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| **RANK** | **TRANCHE** | **PRIOR WEEK** | **THIS WEEK** | **INCREASE** | **% INCREASE** |
| **1** | **INTEL TL** | **40** | **58** | **18** | **45%** |
| **2** | **MEREDITH CO TL B** | **8** | **26** | **18** | **225%** |
| **3** | **STATS LLC TL B** | **0** | **18** | **18** | **N/A** |
| **4** | **SBA COMMUNICATIONS CORP TL B** | **41** | **58** | **17** | **41%** |
| **5** | **HUB INTL LTD TL B** | **40** | **57** | **17** | **43%** |
| **6** | **IHEART TL B** | **20** | **36** | **16** | **80%** |
| **7** | **INMARSAT TL B** | **12** | **28** | **16** | **133%** |
| **8** | **KLOECKNER TL B** | **12** | **28** | **16** | **133%** |
| **9** | **TECTUM HOLDINGS INC TL** | **23** | **39** | **16** | **70%** |
| **10** | **TELENET TL** | **37** | **53** | **16** | **43%** |

- Exhibits the loans with the largest increase in quote volume for the week ending 3/20/20 vs. the week ending 3/27/20

| **MOST QUOTED LOANS** |  |  |
| --- | --- | --- |
| **RANK** | **TRANCHE** | **DEALERS** |
| **1** | **ACTION NEDERLAND EUR TL B** | **18** |
| **2** | **PARTY CITY TL B** | **17** |
| **3** | **GATES GLOBAL TL B** | **15** |
| **4** | **VERISURE EUR TL B1** | **14** |
| **5** | **NESTLE SKIN HEALTH EUR TL B** | **14** |
| **6** | **SIGMA BIDCO EUR TL B** | **13** |
| **7** | **HOTELBEDS EUR TL B** | **13** |
| **8** | **HARLAND CLARKE TL B7** | **13** |
| **9** | **ELSAN GROUPE EUR TL B** | **13** |
| **10** | **CASINO GUICHARD EUR TL B** | **13** |

- Ranks the loans that were quoted by the highest number of dealers between 3/20/20 - 3/27/20

 

 ![Bid and Offer Volume](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-3-30/Bid%20and%20Offer%20Volume%20-%203.30.20.png?width=607&name=Bid%20and%20Offer%20Volume%20-%203.30.20.png)

- Reveals the total number of quotes by bid and offer between  3/20/20 - 3/27/20

 

 ![Sector Bid Offer Spread](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2020-3-30/Sector%20Bid%20Offer%20Spread%20-%203.30.20.png?width=612&name=Sector%20Bid%20Offer%20Spread%20-%203.30.20.png)

- Displays the bid-offer spread by sector between 3/20/20 - 3/27/20 
    - Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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