Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Monthly Syndicated Bank Loan Market Summary - September 2018

Michael Pellerito, October 01, 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 September 2018 versus August 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 AMERICAN TIRE TL B 14.46% 86.65 75.70
2 SERTA SIMMONS 2ND LIEN TL 12.20% 77.14 68.75
3 PETCO TL B 11.10% 81.07 72.97
4 ASCENA RETAIL TL B 8.55% 96.56 88.96
5 TNT CRANE 2ND LIEN TL 6.11% 87.01 82.00
6 OSUM TL 5.16% 92.80 88.25
7 STAR WEST TL B 4.22% 97.51 93.56
8 SUNGARD AVAIL SERV CAP TL B 3.38% 97.51 94.32
9 GNC TL B 3.35% 98.51 95.32
10 PRISA EUR TL 2.99% 95.25 92.48
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 9/1/18 - 9/30/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 IQOR 2ND LIEN TL -17.08% 74.63 90.00
2 GIVE & GO TL B -8.97% 91.37 100.38
3 CHRIST JUWELIERE UND UHRMAC EUR TL B -8.19% 79.87 87.00
4 CROSSMARK TL -7.75% 55.37 60.02
5 STRATEGIC MATERIALS 2ND LIEN TL -6.23% 91.91 98.02
6 LIGHTSQUARED EXIT TL -5.65% 76.02 80.57
7 HILDING ANDERS EUR TL -5.60% 92.62 98.11
8 KETER GROUP EUR TL B -5.33% 90.82 95.94
9 PIER 1 TL B -5.31% 83.92 88.63
10 ACADEMY SPORTS TL B -5.24% 77.83 82.14
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 9/1/18 - 9/30/18
 
 Average Bid PX By Sector
 
  • Displays the average loan bid price by sector for the period between 9/1/18 - 9/30/18
    • 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 9/1/18 - 9/30/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 TECHEM GMBH EUR TL B1 26 172 146 562%
2 CHG HEALTHCARE TL B 30 173 143 477%
3 PRISA EUR TL 8 132 124 1550%
4 WEBHELP EUR TL B 8 123 115 1438%
5 CPA GLOBAL EUR TL B 72 166 94 131%
6 ALTICE FINANCING EUR TL B 102 192 90 88%
7 TELENET EUR TL A 58 148 90 155%
8 DIAVERUM EUR TL B 184 273 89 48%
9 NTL CABLE PLC GBP TL J 54 141 87 161%
10 MEHILAINEN 2ND LIEN EUR TL 10 92 82 820%
  • Exhibits the loans with the largest increase in quote volume for the month ending 8/31/18 vs. the month ending 9/30/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 ALLISON TRANSMISSION TL B 10
2 TRANSDIGM INC. TL F 10
3 REYNOLDS GROUP HOLDINGS LIMITED TL B 9
4 MISYS TL B 9
5 REXNORD TL 9
6 HARBOR FREIGHT TL B 9
7 QUIKRETE TL B 8
8 ALBERTSONS TL B4 8
7 GARDNER DENVER TL B 8
10 DELL TL B 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 9/1/18 - 9/30/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 9/1/18 - 9/30/18

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 9/1/18 - 9/30/18
    • 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.