Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Syndicated Bank Loan Market Summary - Week Ending 11/10/17

Michael Pellerito, November 13, 2017

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, November 3rd- Friday, November 10th.  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 FORTERRA TL 8.18% 90.10 83.29
2 LONGVIEW POWER EXIT TL B 4.26% 64.97 62.31
3 CHANNELVIEW TL B 1.86% 95.34 93.59
4 STENA TL B 1.53% 94.84 93.41
5 THT HEAT TRANSFER TL B 1.17% 93.98 92.90
6 SKILLSOFT EXT 2ND LIEN TL 1.15% 85.99 85.01
7 SEARS TL B 1.14% 99.74 98.61
8 LONESTAR GENERATION EXT TL B 0.84% 96.48 95.68
9 BUCCANEER TL B 0.80% 98.37 97.59
10 EDELMAN FINANCIAL TL B 0.74% 100.74 100.00
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 11/3/17 - 11/10/17
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 CPI CARD GROUP TL B -8.89% 65.69 72.10
2 PHILLIPS PET 2ND LIEN TL -5.79% 72.78 77.25
3 REVLON GROUP INC TL B  -5.11% 77.38 81.55
4 PHILLIPS PET TL -4.04% 84.13 87.68
5 CTI FOODS TL  -3.43% 84.29 87.29
6 NINE WEST UNS TL -3.29% 32.01 33.10
7 EASTMAN KODAK EXIT TL  -2.10% 94.51 96.54
8 COMMUNICATIONS S&L TL B -1.46% 95.02 96.43
9 MURRAY ENERGY  TL B3 -1.42% 88.67 89.95
10 MICHAELS STORES TL B -1.00% 98.86 99.86
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 11/3/17 - 11/10/17
 
 Average Bid PX by Sector v2.png
 
  • Displays the average loan bid price by sector for the period between 11/3/17 - 11/10/17
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
 Sentiment v2.png
 
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 11/3/17 - 11/10/17
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 HARLAND CLARKE TL B7 8 58 50 625%
2 DELL TL B 71 115 44 62%
3 PHARMERICA TL B  4 48 44 1100%
4 SOLARWINDS INC TL 58 101 43 74%
5 UPC TL  40 80 40 100%
6 VANTIV INC TL A4 4 42 38 950%
7 AMERICAN AIRLINES TL B 49 87 38 78%
8 AUDATEX NORTH AMER INC TL B 58 96 38 66%
9 STAPLES TL 57 94 37 65%
10 JAGUAR HOLDING CO I TL 68 104 36 53%
  • Exhibits the loans with the largest increase in quote volume for the week ending 11/3/17 vs. the week ending 11/10/17
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 INEOS FIN TL B 11
2 STAPLES TL 10
3 DELL TL B 10
4 INEOS FIN TL B 10
5 WIND ACQUISITION FIN S A EUR TL B 9
6 UNIVAR TL B2 9
7 UPC TL  9
8 GRIFOLS WORLDWIDE TL B 9
9 WESTERN DIGITAL TL B2 9
10 TELENET TL A 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 11/3/17 - 11/10/17

 

Bid Offer Volume v2.png

  • Reveals the total number of quotes by bid and offer for the period between 11/3/17 - 11/10/17

 

Sector Bid Offer Spread v2.png

  • Displays the bid-offer spread by sector between 11/3/17 - 11/10/17
    • 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.