Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 3/1/19

Michael Pellerito, March 04, 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, February 22nd - Friday, March 1st.  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  KETER GROUP EUR TL 9.27% 79.58 72.83
2  WINDSTREAM SERVICES LLC TL B6 7.49%  97.22 90.45
3  SMS SYSTEMS TL 4.92%  77.80  74.16
4  NEIMAN MARCUS TL B 4.24%  93.30  89.50
5  PATTERSON MEDICAL TL 3.46%  95.70  92.50
6  NAVISTAR INTERNATIONAL TL B 2.86%  99.62  96.85
7  WORLDWIDE EXPRESS TL 2.84%  98.75  96.02
8  MALLINCKRODT TL B 2.80%  96.02  93.41
9  WIDEOPENWEST TL B 2.75%  98.03  95.40 
10  APERGY TL B 2.69%  99.62  97.01
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 2/22/19 - 3/1/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
 ACCURIDE TL B -8.80% 85.29 93.52
 VIP CINEMA TL -3.62%  94.34  97.88 
 WEIGHT WATCHERS TL B -3.40%  96.16  99.54 
 DEL MONTE TL -2.77%  80.56  82.85 
 ANCHOR GLASS TL B -2.71%  80.56  82.81 
 SKILLSOFT EXT 2ND LIEN TL -2.60%  39.77  40.83 
 MURRAY ENERGY TL B2 -2.51%  81.09  83.18 
 AKORN TL B -2.27%  78.19  80.00 
 KIK CUSTOM TL B -1.04%  93.26  94.24 
10   UNIFRAX TL B -1.04%  96.06  96.06 
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 2/22/19 - 3/1/19
 
 Average Bid PX by Sector
  • Displays the average loan bid price by sector for the period between 2/22/19 - 3/1/19
    • 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 2/22/19 - 3/1/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 GATES GLOBAL TL B 48 82 34 71%
2  GGP LP TL B 20 50 30 150% 
3  STAPLES TL 25 55 30 120% 
4  CAPITAL AUTOMOTIVE TL B 32 57 25 78% 
5  BRAND ENERGY TL 34 58 24 71% 
6  REXNORD TL 49 73 24 49% 
7  HILTON TL B2 27 51 24 89% 
8  HUB INTL LTD TL B 42 66 24 57% 
9  ADVANCED DISPOSAL TL B 40 62 22 55% 
10  ALLIANT HLDGS I INC TL B 40 62 22 55% 
  • Exhibits the loans with the largest increase in quote volume for the week ending 2/22/19 vs. the week ending 3/1/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 ACADEMY SPORTS TL B 13
2 COMMUNICATIONS S&L TL B 13
3 JCREW TL B 12
4 MONITRONICS TL 11
5 TALEN ENERGY SUPPLY LLC TL B2 10
6 CSC SERVICEWORKS INC TL B 10
7 EIG INVESTORS TL 10
8 COMMUNITY HEALTH TL H 10
9 TALEN ENERGY SUPPLY LLC TL B1 10
10 INEOS FIN TL B 10
  • Ranks the loans that were quoted by the highest number of dealers for the period between 2/22/19 - 3/1/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 2/22/19 - 3/1/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 2/22/19 - 3/1/19
    • 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.