Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 1/18/19

Michael Pellerito, January 22, 2019

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, January 11th - Friday, January 18th.  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 SAVE A LOT TL B 6.97% 53.35 49.87
2 FIRST DATA CORP TL A 3.83% 99.13 95.48
3 GEO GROUP TL B 2.98% 96.21 93.42
4 PHARMERICA TL B 2.14% 99.50 97.41
5 VISTEON TL B 2.03% 96.92 94.99
6 MICROCHIP TECHNOLOGY TL 1.87% 98.33 96.53
7 TENNECO TL B 1.70% 97.64 96.00
8 SAIC TL B 1.53% 99.05 97.56
9 AT&T COLOCATION TL 1.41% 96.42 95.08
10 RYMAN HOSPITALITY TL B 1.34% 98.50 97.20
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 1/11/19 - 1/18/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 SKILLSOFT EXT 2ND LIEN TL -6.09% 49.65 52.87
2 RENTPATH 2ND LIEN TL -6.01% 46.80 49.79
3 FLAKT WOODS EUR TL B -5.19% 78.99 83.32
4 VANTAGE SPECIALTY 2ND LIEN TL -3.27% 94.89 98.10
5 LUMILEDS DD TL -2.87% 74.55 76.75
6 RIVERBED TL B -1.52% 93.58 95.03
7 CRESTWOOD MIDSTREAM TL B -1.18% 95.81 96.95
8 GEMINI HDPE TL B -1.09% 97.60 98.67
9 SAFE FLEET TL B -0.88% 95.30 96.15
10 PAREXEL INTERNATIONAL TL -0.83% 94.70 95.49
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 1/11/19 - 1/18/19
 
 Avg Bid PX by Sector
  • Displays the average loan bid price by sector for the period between 1/11/19 - 1/18/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Market Sentiment - Advancers vs. Decliners
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 1/11/19 - 1/18/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 SBA COMMUNICATIONS CORP TL B 41 63 22 54%
2 EXGEN RENEWABLES I TL B 14 35 21 150%
3 LAUREATE EDUCATION TL B 42 60 18 43%
4 UNIVISION TL C5 23 40 17 74%
5 TRANSUNION TL B4 28 44 16 57%
6 CITGO PROPCO TL B 0 16 16 N/A
7 SIGMA BIDCO EUR TL B 42 56 14 33%
8 MCGRAW-HILL GLOBAL TL 40 54 14 35%
9 WEST CORP TL B 39 53 14 36%
10 ZACAPA LLC TL B 10 24 14 140%
  • Exhibits the loans with the largest increase in quote volume for the week ending 1/11/19 vs. the week ending 1/18/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 ALLISON TRANSMISSION TL B 11
2 COOPER STANDARD TL B 9
3 NTL CABLE PLC GBP TL M 8
4 NTL CABLE PLC GBP TL L 8
5 UNITY MEDIA GMBH TL E 8
6 ZIGGO EUR TL F 8
7 MONITRONICS TL 8
8 NTL CABLE PLC TL K 8
9 TRANSDIGM INC. TL F 8
10 FINANCIAL & RISK US HOLDINGS INC TL B 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 1/11/19 - 1/18/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 1/11/19 - 1/18/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 1/11/19 - 1/18/19
    • 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.