Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Syndicated Bank Loan Market Summary - Week Ending 2/23/18

Michael Pellerito, February 26, 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 16th - Friday, February 23rd.  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 FLINT GROUP 2ND LIEN EUR TL 2.34% 82.55 80.66
2 OCEAN RIG EXIT TL 2.30% 103.75 101.42
3 DAVID'S BRIDAL TL B 2.24% 87.58 85.66
4 REVLON GROUP INC TL B 2.01% 79.50 77.93
5 US SHIPPING TL B 1.77% 89.92 88.36
6 SBP HOLDINGS TL 1.74% 97.85 96.18
7 QLIK TECHNOLOGIES TL B 1.29% 98.51 97.25
8 ACCUVANT 2ND LIEN TL 1.00% 91.42 90.52
9 GULF FINANCE TL B 0.85% 91.74 90.97
10 AFFINITY GAMING 2ND LIEN TL 0.72% 101.31 100.58
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 2/16/18 - 2/23/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 NEW RUE21 EXIT TL -6.70% 75.65 81.08
2 HARVEY GULF TL B -4.92% 44.09 46.37
3 CATALINA MARKETING 2ND LIEN TL -4.28% 38.01 39.71
4 MURRAY ENERGY TL B3 -2.23% 88.01 90.02
5 KALLE EUR TL -1.48% 90.73 92.09
6 PETCO TL B -1.39% 71.70 72.71
7 AENOVA 2ND LIEN EUR TL -1.26% 82.41 83.47
8 CENGAGE TL -1.25% 91.79 92.95
9 FLAVORS HOLDINGS TL B -1.11% 89.00 90.00
10 KRATON POLYMERS LLC / KRATON TL B -0.98% 100.01 101.00
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 2/16/18 - 2/23/18
 
 Average Bid PX By Sector.png
 
  • Displays the average loan bid price by sector for the period between 2/16/18 - 2/23/18
    • 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 2/16/18 - 2/23/18

 

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

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 TIPICO EUR TL B 8 36 28 350%
2 AMEDEO MSN 157 EUR TL B 32 58 26 81%
3 KINOVE EUR TL B 4 28 24 600%
4 CATALENT PHARMA TL B 38 54 16 42%
5 DIAVERUM EUR TL B 34 50 16 47%
6 ETHYPHARM EUR TL B 32 48 16 50%
7 HOMEVI EUR TL B 4 20 16 400%
8 ZIGGO TL E 61 76 15 25%
9 TRANSDIGM INC TL G 24 38 14 58%
10 OBERTHUR TECHNOLOGIES SA EUR TL B1 32 46 14 44%
  • Exhibits the loans with the largest increase in quote volume for the week ending 2/16/18 vs. the week ending 2/23/18

 

MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 TELENET TL A 10
2 NUMERICABLE TL B11 9
3 HAMILTON SUNDSTRAND TL B 9
4 GARDNER DENVER TL B 9
5 NUMERICABLE TL B12 9
6 ZIGGO TL E 9
7 ALLISON TRANSMISSION TL 9
8 SEADRILL PARTNERS LLC EXT TL B 8
9 COMMUNITY HEALTH TL H 8
10 ABC SUPPLY TL 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 2/16/18 - 2/23/18

 

Bid and Offer Volume.png

  • Reveals the total number of quotes by bid and offer for the period between 2/16/18 - 2/23/18

 

Sector Bid Offer Spread.png

  • Displays the bid-offer spread by sector between 2/16/18 - 2/23/18
    • 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.