Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 3/15/19

Michael Pellerito, March 18, 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, March 8th - Friday, March 15th.  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 DITECH EXIT TL B 8.85% 70.29 64.57
2 SKILLSOFT EXT TL 4.95% 85.12 81.11
3 COMMUNICATIONS S&L TL B 3.17% 98.20 95.18
4 BLUESTEM EXT TL B 2.61% 71.01 69.21
5 WINDSTREAM SERVICES LLC TL B7 2.07% 98.63 96.63
6 PETSMART TL B 1.99% 87.25 85.55
7 IHEART EXT TL D 1.76% 70.96 69.74
8 FIELDWOOD ENERGY TL 1.37% 92.31 91.06
9 PACIFIC GAS AND ELECTRIC COMPANY DIP REV 1.27% 88.02 86.91
10 TNT CRANE TL 1.09% 92.33 91.34
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 3/8/19 - 3/15/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
SYNCREON GROUP BV TL B -11.79% 64.56 73.19
BUCCANEER 2ND LIEN TL -4.74% 78.52 82.19
MENS WEARHOUSE TL B -2.71% 96.28 98.97
BLACKHAWK MINING TL B1 -2.52% 73.32 75.21
MONTREIGN RESORT CASINO TL -2.41% 89.06 91.26
MURRAY ENERGY TL B2 -2.30% 78.40 80.25
LIGHTSQUARED EXIT PIK TL -2.07% 75.54 77.14
CIRQUE DE SOLEIL TL B -1.80% 92.44 94.13
JCREW TL B -1.45% 72.54 73.60
10  METRO-GOLDWYN-MAYER 2ND LIEN TL -1.19% 95.47 96.62
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 3/8/19 - 3/15/19
 
 Avg Bid PX By Sector
  • Displays the average loan bid price by sector for the period between 3/8/19 - 3/15/19
    • 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 3/8/19 - 3/15/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 CABLEVISION TL B 0 30 30 N/A
2 HOLLAND & BARRETT GBP TL B 34 56 22 65%
3 HENSOLDT EUR TL B 18 38 20 111%
4 LIFEPOINT HEALTH TL 14 32 18 129%
5 LABEYRIE EUR TL B1 30 46 16 53%
6 FRONERI EUR TL B 52 68 16 31%
7 CALPINE CORP TL B6 36 52 16 44%
8 UNILABS EUR TL B 46 62 16 35%
9 VERALLIA EUR TL B4 58 74 16 28%
10 CITCO TL B 9 24 15 167%
  • Exhibits the loans with the largest increase in quote volume for the week ending 3/8/19 vs. the week ending 3/15/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 HILTON TL B2 14
2 MURRAY ENERGY TL B2 12
3 UNIVISION TL C5 12
4 JCREW TL B 12
5 MONITRONICS TL 11
6 ENDO HEALTH TL B 11
7 ALBERTSONS TL B5 11
8 ALTICE FINANCING TL B 11
9 QUIKRETE TL B 11
10 GNC EXT TL B 11
  • Ranks the loans that were quoted by the highest number of dealers for the period between 3/8/19 - 3/15/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 3/8/19 - 3/15/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 3/8/19 - 3/15/19
    • 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.