Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Monthly Syndicated Bank Loan Market Summary - October 2018

Michael Pellerito, November 05, 2018

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 October 2018 versus September 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 FULLBEAUTY TL 4.97% 31.13 29.66
2 ULTRA PETROL CORP EXIT TL 4.22% 93.51 89.73
3 PHILLIPS PET TL 4.10% 60.00 57.64
4 AMERICAN TIRE TL B 3.88% 90.01 86.65
5 BRITAX CHILD SAFETY INC TL B 3.02% 80.48 78.12
6 ESMALGLASS EUR TL B 2.12% 99.43 97.37
7 PRECYSE HEALTHCARE 2ND LIEN TL 1.92% 99.88 98.00
8 UNIVERSAL SERVICES TL 1.58% 99.63 98.08
9 PROSOL GESTION EUR TL B 1.35% 99.70 98.37
10 DIAVERUM 2ND LIEN EUR TL 1.15% 99.40 98.27
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 10/1/18 - 10/31/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 CROSSMARK TL -24.20% 41.97 55.37
2 HILDING ANDERS EXT EUR TL B -13.45% 83.95 97.00
3 UNIMIN CORP TL -9.15% 84.99 93.55
4 SLV GROUP GMBH EUR TL B -8.77% 80.71 88.46
5 US SILICA CO TL B -7.73% 89.95 97.49
6 DAVID'S BRIDAL TL B -7.63% 81.81 88.57
7 RENTPATH TL -5.30% 82.63 87.25
8 PREMIERE GLOBAL TL -5.10% 92.00 96.94
9 ACADEMY SPORTS TL B -4.32% 74.47 77.83
10 BELK TL B -3.85% 84.09 87.45
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 10/1/18 - 10/31/18
 
 Average Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 10/1/18 - 10/31/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Sentiment-2
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 10/1/18 - 10/31/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 EQUINOX HLDGS INC TL B 2 210 208 10400%
2 HILEX POLY EXT TL 2 166 164 8200%
3 ANCHOR GLASS TL B 169 279 110 65%
4 BLACKBOARD TL B4 207 308 101 49%
5 BMC SOFTWARE TL B 272 369 97 36%
6 LANNETT CO INC TL B 97 194 97 100%
7 SBA COMMUNICATIONS CORP TL B 212 306 94 44%
8 VERALLIA EUR TL C 82 174 92 112%
9 CENGAGE TL 161 252 91 57%
10 SERTA SIMMONS TL 145 234 89 61%
  • Exhibits the loans with the largest increase in quote volume for the month ending 9/30/18 vs. the month ending 10/31/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 ALBERTSONS TL B4 10
2 ALLISON TRANSMISSION TL B 10
3 REYNOLDS GROUP HOLDINGS LIMITED TL B 9
4 DELL TL B 9
5 FIRST DATA CORP TL B 9
6 CINEWORLD TL B 9
7 SOLERA TL B 9
8 MISYS TL B 9
7 TRANSDIGM INC. TL F 9
10 INEOS FIN TL B 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 10/1/18 - 10/31/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 10/1/18 - 10/31/18

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 10/1/18 - 10/31/18
    • 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.