Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 5/17/19

Michael Pellerito, May 20, 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, May 10th - Friday, May 17th.  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 ANCHOR GLASS 2ND LIEN TL 25.88% 69.96 55.58
2 GULF FINANCE TL B 4.59% 82.04 78.44
3 WINEBOW 2ND LIEN TL 4.31% 63.17 60.56
4 IQOR 2ND LIEN TL 3.83% 80.73 77.75
5 GLOBAL EAGLE ENTERTMNT TL B 3.82% 95.52 92.00
6 OWENS & MINOR DISTRIBUTION TL B 3.43% 83.98 81.19
7 NBTY 2ND LIEN TL 3.22% 85.02 82.37
8 SERTA SIMMONS 2ND LIEN TL 2.97% 44.36 43.08
9 SEADRILL PARTNERS LLC EXT TL B 2.85% 81.77 79.50
10 NAVIOS MIDSTREAM TL B 2.37% 98.34 96.07
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 5/10/19 - 5/17/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
LIGHTSQUARED EXIT PIK 2ND LIEN TL -10.80% 26.98 30.24
RGIS TL -6.55% 77.62 83.06
PRINCE TL -5.94% 91.84 97.65
DONCASTERS EXT TL B -5.56% 70.72 74.88
HEALOGICS 2ND LIEN TL -5.51% 61.19 64.76
FLINT GROUP TL C -4.65% 88.75 93.09
RENTPATH TL -4.05% 58.50 60.98
COLORADO BUYER 2ND LIEN TL -3.89% 87.40 90.94
NPC TL -3.63% 78.60 81.56
10  DIVERSEY EUR TL -3.40% 94.52 97.84
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 5/10/19 - 5/17/19
 
 Avg Bid PX By Sector
  • Displays the average loan bid price by sector for the period between 5/10/19 - 5/17/19
    • 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 5/10/19 - 5/17/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 DAE AVIATION TL 20 63 43 215%
2 JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY TL 2 42 40 2000%
3 VERISURE MIDHOLDING AB EUR TL B1 44 79 35 80%
4 SIVANTOS EUR TL B 30 64 34 113%
5 CEVA SANTE ANIMALE EUR TL B 44 74 30 68%
6 CHARTER NEX TL 12 40 28 233%
7 VERALLIA EUR TL B4 50 78 28 56%
8 NTL CABLE PLC GBP TL L 56 82 26 46%
9 NTL CABLE PLC GBP TL M 56 80 24 43%
10 OBERTHUR TECHNOLOGIES SA EUR TL B1 52 76 24 46%
  • Exhibits the loans with the largest increase in quote volume for the week ending 5/10/19 vs. the week ending 5/17/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 AVOLON TL B3 14
2 FIRST DATA CORP TL A 11
3 COMMUNICATIONS S&L TL B 11
4 HARLAND CLARKE TL B7 10
5 IHEART TL B 10
6 PETSMART TL B 10
7 ZIGGO EUR TL F 9
8 SPRINGER NATURE TL B13 9
9 NTL CABLE PLC GBP TL M 9
10 NTL CABLE PLC GBP TL L 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 5/10/19 - 5/17/19

 

 Bid and Offer Spread

  • Reveals the total number of quotes by bid and offer for the period between 5/10/19 - 5/17/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 5/10/19 - 5/17/19
    • 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.