Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Monthly Syndicated Bank Loan Market Summary - August 2018

Michael Pellerito, September 04, 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 August 2018 versus July 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 CPI CARD GROUP TL B 11.81% 65.97 59.00
2 BELK TL B 10.25% 87.03 78.94
3 AMERICAN TIRE TL B 6.33% 75.70 71.20
4 EDDIE BAUER TL B 5.74% 89.74 84.87
5 JCREW TL B 5.60% 89.81 85.04
6 NBTY 2ND LIEN TL 5.55% 89.45 84.75
7 NEIMAN MARCUS TL B 5.45% 92.92 88.12
8 KLOECKNER EUR TL B 2.67% 94.97 92.50
9 FLOATEL TL B 2.56% 89.23 87.00
10 UNILABS EUR TL B 2.53% 99.70 97.24
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 8/1/18 - 8/31/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 RENTPATH 2ND LIEN TL -28.17% 59.02 82.17
2 FULLBEAUTY TL -23.14% 29.51 38.40
3 LANNETT CO INC TL B -16.91% 81.49 98.06
4 DIEBOLD TL B -15.72% 84.09 99.76
5 DUEMMEN ORANGE EUR TL -11.27% 80.79 91.05
6 JC PENNEY TL B -5.52% 91.18 96.50
7 HELIX GENERATION TL B -5.46% 95.20 100.70
8 CHOBANI TL B -4.91% 94.88 99.78
9 KCA DEUTAG TL B -3.95% 95.50 99.43
10 HUSKY INJECTION MOLDING TL B -3.75% 94.56 98.25
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 8/1/18 - 8/31/18
 
 Average Bid PX by Sector-5
 
  • Displays the average loan bid price by sector for the period between 8/1/18 - 8/31/18
    • 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 8/1/18 - 8/31/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 STARS GROUP TL B 123 228 105 85%
2 BMC SOFTWARE EUR TL B 42 138 96 229%
3 ASURION 2ND LIEN TL 52 138 86 165%
4 ATOTECH TL B1 4 88 84 2100%
5 CHG HEALTHCARE TL B 38 118 80 211%
6 UBER TECHNOLOGIES TL B 42 120 78 186%
7 FORTRESS TL B 6 81 75 1250%
8 ACADIA HEALTHCARE TL B4 67 141 74 110%
9 VISTRA ENERGY TL B3 179 248 69 39%
10 QUIKRETE TL B 243 311 68 28%
  • Exhibits the loans with the largest increase in quote volume for the month ending 7/31/18 vs. the month ending 8/31/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 NUMERICABLE TL B11 8
2 NUMERICABLE TL B12 8
3 TELENET TL A 8
4 PETSMART TL B 8
5 NTL CABLE PLC TL K 8
6 ALLISON TRANSMISSION TL B 8
7 ACADEMY SPORTS TL B 7
8 SERTA SIMMONS 2ND LIEN TL 7
7 QUIKRETE TL B 7
10 DELL TL B 7
  • Ranks the loans that were quoted by the highest number of dealers for the period between 8/1/18 - 8/31/18

 

 Bid and Offer Volume-2

  • Reveals the total number of quotes by bid and offer for the period between 8/1/18 - 8/31/18

 

Sector Bid Offer Spread-5

  • Displays the bid-offer spread by sector between 8/1/18 - 8/31/18
    • 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.