Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Monthly Syndicated Bank Loan Market Summary - March 2018

Michael Pellerito, April 02, 2018

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Solve has aggregated and organized key trends derived from observable loan price data for the month of March 2018 versus February 2018.  In the tables and charts below, you'll find:

  1. Top 10 Loan Price Winners
  2. Top 10 Loan Price Losers
  3. Average Bid Price (By industry sector)
  4. Market Sentiment
  5. Top Quote Volume Movers
  6. Most Quoted Loans
  7. Bid and Offer Volume
  8. Bid Offer Spread  (By industry sector)

 

TOP 10 WINNERS
Rank Loan Chg Price Price - 1M
1 CATALINA MARKETING 2ND LIEN TL 7.82% 40.97 38.00
2 SMS SYSTEMS TL 7.20% 92.38 86.17
3 PETCO TL B 4.94% 72.90 69.47
4 SYNCREON GROUP BV TL B 4.37% 92.62 88.74
5 ARDEN GROUP TL B 4.21% 99.00 95.00
6 JCREW TL B 3.72% 72.18 69.59
7 GLOBAL EAGLE ENTERTMNT TL B 3.42% 103.94 100.50
8 FLAKT WOODS EUR TL B 3.29% 93.89 90.90
9 MENS WEARHOUSE TL 3.10% 99.96 96.96
10 PGS TL B 2.99% 94.43 91.70
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 3/1/18 - 3/31/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 TWEDDLE GROUP TL B -16.67% 82.50 99.00
2 LIGHTSQUARED EXIT 2ND LIEN TL -15.09% 47.30 55.71
3 SERTA SIMMONS 2ND LIEN TL -11.93% 80.07 90.92
4 CPI CARD GROUP TL B -11.51% 68.27 77.15
5 ANCHOR GLASS 2ND LIEN TL -4.87% 96.00 100.91
6 ACOSTA TL B -4.69% 83.86 87.98
7 NBTY TL -4.18% 92.84 96.88
8 EMPIRE GENERATING TL B -4.01% 80.63 83.99
9 HARVEY GULF TL B -3.99% 40.84 42.54
10 AMERICAN ENERGY MARCELLUS TL -3.66% 56.29 58.43
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 3/1/18 - 3/31/18
 
 Average Bid PX By Sector v3
 
  • Displays the average loan bid price by sector for the period between 3/1/18 - 3/31/18
    • 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) for the period between 3/1/18 - 3/31/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 ALLNEX TL B3 20 147 127 635%
2 REALOGY TL B 22 146 124 564%
3 REYNOLDS GROUP TL B 244 354 110 45%
4 ALLNEX TL B2 12 118 106 883%
5 LUMILEDS DD TL 56 160 104 186%
6 COMMUNITY HEALTH TL H 198 301 103 52%
7 SGB-SMIT EUR TL B 32 134 102 319%
8 NATIONAL FINANCIAL PARTNERS TL B 142 244 102 72%
9 DJO FINANCE TL B 113 215 102 90%
10 BJ'S TL B 200 300 100 50%
  • Exhibits the loans with the largest increase in quote volume for the month ending 2/28/18 vs. the month ending 3/31/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 13
2 REYNOLDS GROUP TL B 12
3 COMMUNITY HEALTH TL H 12
4 GARDNER DENVER TL B 11
5 REVLON TL B 11
6 GRIFOLS WORLDWIDE TL B 11
7 PLATFORM SPECIALTY TL B7 11
8 INEOS FIN TL B 11
9 COMMUNITY HEALTH TL G 11
10 ALLISON TRANSMISSION TL 11
  • Ranks the loans that were quoted by the highest number of dealers for the period between 3/1/18 - 3/31/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 3/1/18 - 3/31/18

 

Sector Bid Offer Spread

 

  • Displays the bid-offer spread by sector between 3/1/18 - 3/31/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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If you would like to see additional information, or if you have any feedback or questions, please feel free to reach out to us at info@solveadvisors.com or 646-699-5041.