Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - April 2019

Michael Pellerito, May 01, 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 April 2019 versus March 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 TRIPLE POINT 2ND LIEN TL 16.32% 91.46 78.63
2 AIR METHODS TL 14.49% 85.76 74.90
3 CROSSMARK TL 13.42% 31.30 27.59
4 BEACON HEALTH TL 12.35% 91.17 81.15
5 CPI CARD GROUP TL B 9.99% 73.64 66.95
6 MONITRONICS TL B2 9.86% 91.47 83.26
7 AKORN TL B 8.55% 86.49 79.68
8 TRIPLE POINT TL 8.41% 97.99 90.39
9 SPRINGS WINDOW 2ND LIEN TL 6.59% 96.62 90.65
10 AUGUSTA SPORTSWEAR TL 5.84% 98.38 92.95
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 4/1/19 - 4/30/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 FUSION CONNECT 2ND LIEN TL -66.64% 30.03 90.00
2 DONCASTERS 2ND LIEN TL -54.03% 36.17 78.69
3 SUNGARD AVAIL SERV CAP EXT TL B -44.12% 41.77 74.75
4 RENTPATH 2ND LIEN TL -37.84% 20.31 32.68
5 MEDICAL DEPOT TL -17.06% 71.07 85.69
6 SHERIDAN PRODUCTION PARTNERS II TL B -16.85% 69.43 83.50
7 NPC 2ND LIEN TL -15.52% 72.24 85.51
8 MCS TL B -15.08% 67.67 79.69
9 RENTPATH TL B -15.01% 63.88 75.16
10 SERTA SIMMONS 2ND LIEN TL -13.83% 42.09 48.84
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 4/1/19 - 4/30/19
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 4/1/19 - 4/30/19
    • 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 4/1/19 - 4/30/19
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 HOTELBEDS EUR TL B 30 119 89 297%
2 ORYX SOUTHERN TL B 18 84 66 367%
3 FORESIGHT ENERGY TL 38 102 64 168%
4 SURVITEC EUR TL 38 102 64 168%
5 FIELDWOOD ENERGY EXIT 2ND LIEN TL 45 105 60 133%
6 JO-ANN STORES TL B 50 110 60 120%
7 DEXKO TL B 102 162 60 59%
8 ELEMENT SOLUTIONS TL B 60 119 59 98%
9 FOUR SEASONS TL B 110 169 59 54%
10 BOYD CORP TL B 12 68 56 467%
  • Exhibits the loans with the largest increase in quote volume for the month ending 3/31/19 vs. the month ending 4/30/19
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 JCREW TL B 13
2 MONITRONICS TL B2 11
3 UFC TL 11
4 PETSMART TL B 11
5 JBS USA TL B 11
6 BUCCANEER TL 10
7 INTERNET BRANDS TL 10
8 KRONOS 2ND LIEN TL 9
7 AIR METHODS TL 9
10 SPRINGER NATURE TL B13 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 4/1/19 - 4/30/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 4/1/19 - 4/30/19

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 4/1/19 - 4/30/19
    • 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.