Solve Advisors Blog & Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 5/3/19

Michael Pellerito, May 06, 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, April 26th - Friday, May 3rd.  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 YAK MAT TL B 8.49% 93.26 85.96
2 AFFINION GROUP TL B 4.49% 90.86 86.95
3 AMERICAN TIRE TL B 4.03% 96.33 92.60
4 LIGHTSQUARED EXIT PIK TL 3.31% 76.93 74.47
5 PETSMART TL B 3.15% 97.00 94.04
6 DELUXE ENTERTAINMENT TL B 2.74% 88.64 86.28
7 JCREW TL B 2.66% 86.71 84.47
8 IPC SYSTEMS TL B 2.51% 83.41 81.37
9 MCGRAW-HILL GLOBAL TL 2.32% 97.62 95.41
10 LINER FOODS TL B 2.31% 87.55 85.58
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 4/26/19 - 5/3/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
SKILLSOFT EXT 2ND LIEN TL -35.86% 24.64 38.42
SERTA SIMMONS 2ND LIEN TL -5.73% 42.35 44.92
SHERIDAN PRODUCTION PARTNERS II TL B -5.53% 66.62 70.52
PATTERSON MEDICAL TL -2.96% 95.79 98.71
MONTREIGN RESORT CASINO TL -2.57% 86.77 89.06
TIERPOINT 2ND LIEN TL -2.56% 91.10 93.49
CASA SYSTEMS TL -2.53% 95.25 97.72
RENTPATH TL B -1.86% 62.06 63.23
MURRAY ENERGY TL B2 -1.83% 78.75 80.21
10  ENVISION HEALTHCARE TL B -1.79% 94.59 96.32
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 4/26/19 - 5/3/19
 
 Avg Bid PX by Sector
  • Displays the average loan bid price by sector for the period between 4/26/19 - 5/3/19
    • 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 4/26/19 - 5/3/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 ACTION NEDERLAND BV EUR TL B 38 79 41 108%
2 OBERTHUR TECHNOLOGIES SA EUR TL B1 32 71 39 122%
3 EIRCOM FDG EUR TL B6 39 75 36 92%
4 ZIGGO EUR TL F 48 84 36 75%
5 STYROLUTION EUR TL B 26 60 34 131%
6 FINANCIAL & RISK US HOLDINGS INC EUR TL B 26 60 34 131%
7 OGF SA EUR TL B 44 78 34 77%
8 INEOS FIN EUR TL B 34 68 34 100%
9 AMEDEO MSN 157 EUR TL B 34 66 32 94%
10 INOVYN EUR TL B 28 58 30 107%
  • Exhibits the loans with the largest increase in quote volume for the week ending 4/26/19 vs. the week ending 5/3/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 SEADRILL PARTNERS LLC EXT TL B 15
2 UFC TL 10
3 BUCCANEER TL 10
4 LIGHTSQUARED EXIT PIK TL 10
5 TRANSDIGM INC. TL G 10
6 TRANSDIGM INC. TL F 10
7 TRANSDIGM INC. TL E 10
8 BMC SOFTWARE TL B 10
9 INTERNET BRANDS TL 10
10 JBS USA TL B 10
  • Ranks the loans that were quoted by the highest number of dealers for the period between 4/26/19 - 5/3/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 4/26/19 - 5/3/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 4/26/19 - 5/3/19
    • 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.