Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - May 2019

Michael Pellerito, June 03, 2019

Solve Advisor's monthly loan newsletter highlights trends in the Syndicated Bank Loan market.

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Solve has aggregated and organized key trends derived from observable loan price data for the month of May 2019 versus April 2019.  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 BUMI RESOURCES TL 19.25% 76.75 64.36
2 LDISCOVERY 2ND LIEN TL 15.28% 99.71 86.50
3 YAK MAT TL B 8.64% 93.72 86.27
4 NBTY 2ND LIEN TL 6.71% 87.96 82.42
5 CPI CARD GROUP TL B 5.71% 77.84 73.64
6 KETER GROUP EUR TL B 5.22% 86.77 82.47
7 SLV GROUP GMBH EUR TL B 5.19% 90.49 86.02
8 SAFE FLEET 2ND LIEN TL 4.59% 97.02 92.76
9 RADIATION THERAPY SERVICES TL B 4.48% 87.00 83.27
10 BLUESTEM EXT TL B 4.07% 75.00 72.06
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 5/1/19 - 5/31/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 DONCASTERS 2ND LIEN TL -28.71% 25.79 36.17
2 JOERNS HEALTHCARE TL B -13.55% 73.49 85.00
3 DUEMMEN ORANGE EUR TL -13.38% 70.78 81.71
4 CONSTELLIS HOLDINGS LLC 2ND LIEN TL -11.17% 83.32 93.80
5 NPC 2ND LIEN TL -10.02% 65.00 72.24
6 DITECH EXIT TL B -9.14% 57.30 63.06
7 DIVERSEY EUR TL -8.64% 90.40 98.95
8 RGIS TL -7.74% 76.78 83.22
9 CASA SYSTEMS TL -7.25% 90.98 98.00
10 PRINCE TL -7.23% 91.38 98.50
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 5/1/19 - 5/31/19
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 5/1/19 - 5/31/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Market Sentiment - Advancers vs. Decliners
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 5/1/19 - 5/31/19
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 DAE AVIATION TL 36 178 142 394%
2 HYPERION TL B 137 240 103 75%
3 SWISSPORT EUR TL 80 183 103 129%
4 VERISURE MIDHOLDING AB EUR TL B1 192 287 95 49%
5 EIRCOM FDG EUR TL B5 0 94 94 N/A
6 CEVA SANTE ANIMALE EUR TL B 206 292 86 42%
7 COHERENT INC EUR TL B 101 187 86 85%
8 DELACHAUX EUR TL B1 74 158 84 114%
9 INEOS FIN EUR TL B 233 316 83 36%
10 SIVANTOS EUR TL B 148 230 82 55%
  • Exhibits the loans with the largest increase in quote volume for the month ending 4/30/19 vs. the month ending 5/31/19
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 NRG ENERGY TL B 13
2 SS&C TECH TL B3 12
3 ALLISON TRANSMISSION TL B3 12
4 VF HOLDINGS CORP TL B 11
5 EPICOR SOFTWARE TL B 11
6 COMMUNICATIONS S&L TL B 10
7 APPLIED SYSTEMS TL B 10
8 MONITRONICS TL B2 10
7 BASS PRO SHOPS TL B 10
10 STAPLES TL 10
  • Ranks the loans that were quoted by the highest number of dealers for the period between 5/1/19 - 5/31/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 5/1/19 - 5/31/19

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 5/1/19 - 5/31/19
    • 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.