Solve Advisors Blog & Syndicated Bank Loan Market Summaries

   

Syndicated Bank Loan Market Summary - Week Ending 9/21/18

Michael Pellerito, September 24, 2018

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, September 14th - Friday, September 21st.  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 FLOATEL TL B 7.86% 97.12 90.04
2 WESTWAY GROUP INC TL B 7.04% 99.55 93.00
3 IQOR TL B 3.32% 90.98 88.05
4 G-III APPAREL GROUP LTD TL B 2.76% 101.22 98.50
5 SERTA SIMMONS TL 2.42% 88.79 86.69
6 VERITAS TL B1 1.67% 96.47 94.89
7 RENTPATH TL B 1.65% 85.48 84.10
8 WINDSTREAM SERVICES LLC TL B7 1.51% 87.40 86.10
9 99 CENTS ONLY EXT PIK TL B 1.19% 95.09 93.97
10 VERSCEND TL 1.10% 100.85 99.75
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 9/14/18 - 9/21/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 LIGHTSQUARED EXIT 2ND LIEN TL -8.60% 27.42 30.00
2 IQOR 2ND LIEN TL -7.79% 74.44 80.72
3 CATALINA MARKETING TL B -5.84% 43.95 46.67
4 AKORN TL B -1.48% 95.12 96.55
5 TRAEGER 2ND LIEN TL -1.03% 98.17 99.19
6 ROYAL OAK TL B -1.02% 98.36 99.38
7 PAREXEL INTERNATIONAL TL -0.92% 99.13 100.05
8 HELIX GENERATION TL B -0.87% 93.68 94.51
9 SYNCREON GROUP BV TL B -0.87% 93.29 94.10
10 TOWN SPORTS TL B -0.64% 98.50 99.13
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 9/14/18 - 9/21/18
 
 Average Bid Price by Sector
  • Displays the average loan bid price by sector for the period between 9/14/18 - 9/21/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Market Sentiment - Advanmcers vs. Decliners
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 9/14/18 - 9/21/18
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 TELENET TL A 57 83 26 46%
2 NTL CABLE PLC TL K 62 86 24 39%
3 SBA COMMUNICATIONS CORP TL B 45 66 21 47%
4 COOPER STANDARD TL B 62 83 21 34%
5 EIG INVESTORS TL 19 40 21 111%
6 VERALLIA EUR TL B4 49 70 21 43%
7 GNC FLLO 8 28 20 250%
8 APCOA EUR TL B 18 38 20 111%
9 ALLISON TRANSMISSION TL B 76 94 18 24%
10 CISION TL B 40 58 18 45%
  • Exhibits the loans with the largest increase in quote volume for the week ending 9/14/18 vs. the week ending 9/21/18
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 10
2 ALLISON TRANSMISSION TL B 10
3 TRANSDIGM INC. TL F 10
4 REYNOLDS GROUP HOLDINGS LIMITED TL B 9
5 MISYS TL B 9
6 SOLERA TL B 9
7 SOLARWINDS TL 9
8 PROTECTION1 TL B 9
9 NTL CABLE PLC TL K 9
10 DOUGLAS HOLDING EUR TL B8 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 9/14/18 - 9/21/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 9/14/18 - 9/21/18

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 9/14/18 - 9/21/18
    • 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.