Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Syndicated Bank Loan Market Summary - Week Ending 2/9/18

Michael Pellerito, February 12, 2018

Solve Advisor's weekly 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 period between Friday, February 2nd - Friday, February 9th.  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 - 1W
1 PHILADELPHIA ENERGY TL B 5.88% 74.38 70.25
2 CONCORDIA HEALTHCARE GBP TL B 4.12% 88.28 84.79
3 LONGVIEW POWER EXIT TL B 2.53% 82.30 80.27
4 CONCORDIA HEALTHCARE TL 2.27% 88.92 86.94
5 LIVINGSTON TL B 2.53% 99.11 96.67
6 BRITAX CHILD SAFETY INC TL B 0.98% 85.88 85.05
7 COTY TL B 0.97% 100.33 99.36
8 ADVANCED COMPUTER 2ND LIEN TL 0.96% 98.26 97.32
9 LIBBEY GLASS TL B 0.96% 96.98 96.06
10 CIRQUE DE SOLEIL 2ND LIEN TL 0.89% 99.63 98.75
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 2/2/18 - 2/9/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 VELOCITY POOLING TL B -33.33% 30.00 45.00
2 HOUSE OF FRASER GBP TL -10.38% 77.19 86.13
3 COLT DEFENSE EXIT TL -5.45% 52.00 55.00
4 ISOLA TL B -3.91% 50.05 52.09
5 CENGAGE TL -3.45% 93.48 96.82
6 MURRAY ENERGY TL B2 -2.92% 88.94 85.18
7 AENOVA 2ND LIEN EUR TL -2.02% 83.46 76.61
8 IHEART TL D -1.91% 75.14 79.61
9 REVLON GROUP INC TL B -1.64% 78.21 79.51
10 SERTA SIMMONS 2ND LIEN TL -1.51% 90.86 92.26
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 2/2/18 - 2/9/18
 
 Average Bid PX By Sector.png
 
  • Displays the average loan bid price by sector for the period between 2/2/18 - 2/9/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Sentiment.png
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 2/2/18 - 2/9/18

 

TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 VISTRA ENERGY TL B2 24 52 28 117%
2 CERAMTEC EUR TL B 8 34 26 325%
3 ALLISON TRANSMISSION TL 55 78 23 42%
4 ALTICE FINANCING TL B 17 35 18 106%
5 AVANTOR EUR TL 10 28 18 180%
6 ELSAN GROUPE EUR TL B 14 30 16 114%
7 STYROLUTION EUR TL B 6 22 16 267%
8 LINXENS EUR TL B 12 27 15 125%
9 ALTICE FINANCING TL B 50 65 15 30%
10 CREATIVE ARTISTS TL B 16 30 14 88%
  • Exhibits the loans with the largest increase in quote volume for the week ending 2/2/18 vs. the week ending 2/9/18

 

MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 AXALTA COATING SYSTEMS TL 11
2 DELL TL B 10
3 DAVID'S BRIDAL TL B 9
4 NUMERICABLE TL B11 9
5 NUMERICABLE TL B12 9
6 GRIFOLS WORLDWIDE TL B 9
7 INEOS FIN TL B 9
8 TELENET TL A 9
9 GARDNER DENVER TL B 9
10 DEL MONTE FOODS CO TL 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 2/2/18 - 2/9/18

 

Bid and Offer Volume.png

  • Reveals the total number of quotes by bid and offer for the period between 2/2/18 - 2/9/18

 

Sector Bid Offer Spread.png

  • Displays the bid-offer spread by sector between 2/2/18 - 2/9/18
    • 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.