Solve Advisors Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 4/20/18

Michael Pellerito, April 23, 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, April 13th - Friday, April 20th.  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 LDISCOVERY TL B 4.15% 95.00 91.21
2 ACCUVANT 2ND LIEN TL 2.89% 95.70 93.01
3 MURRAY ENERGY TL B3 2.15% 87.13 85.30
4 FLINT GROUP EUR TL B 2.02% 96.06 94.16
5 SHERIDAN PRODUCTION PARTNERS II TL B 1.66% 87.00 85.58
6 EDDIE BAUER TL B 1.48% 71.04 70.01
7 KLOECKNER EUR TL B 1.37% 94.87 93.59
8 P.F. CHANG'S TL 1.16% 98.11 96.99
9 CROSBY 2ND LIEN TL 1.13% 98.16 97.06
10 PGS TL B 1.11% 96.71 95.64
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 4/13/18 - 4/20/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 ULTRA PETROL CORP EXIT TL -2.56% 95.09 97.59
2 HARVEY GULF TL A -2.32% 37.62 38.51
3 FULLBEAUTY TL -1.20% 55.11 55.78
4 INNOCOR 2ND LIEN TL -0.90% 92.66 93.50
5 MCGRAW-HILL GLOBAL TL -0.88% 97.47 98.34
6 AMERICAN TIRE TL B -0.64% 99.89 100.54
7 FORT DEARBORN TL -0.62% 98.26 98.88
8 APLEONA GMBH EUR TL B2 -0.62% 100.00 100.63
9 NBTY TL -0.59% 91.39 91.94
10 BCP RENAISSANCE TL B -0.56% 100.13 100.69
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 4/13/18 - 4/20/18
 
 Average Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 4/13/18 - 4/20/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Sentiment
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 4/13/18 - 4/20/18

 

TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 GVC HOLDINGS GBP TL B2 4 28 24 600%
2 GVC HOLDINGS EUR TL B2 6 29 23 383%
3 MICHAELS STORES TL B 21 40 19 90%
4 SBA COMMUNICATIONS CORP TL B 24 42 18 75%
5 GVC HOLDINGS TL B 22 39 17 77%
6 BJ'S TL B 53 69 16 30%
7 MONITRONICS TL 25 41 16 64%
8 HUSKY INJECTION MOLDING TL B 42 58 16 38%
9 MALLINCKRODT TL B 29 44 15 52%
10 MICRO FOCUS TL B2 20 34 14 70%
  • Exhibits the loans with the largest increase in quote volume for the week ending 4/13/18 vs. the week ending 4/20/18

 

MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 9
2 REYNOLDS GROUP TL B 9
3 GARDNER DENVER TL B 9
4 CARESTREAM HEALTH TL 8
5 SBA COMMUNICATIONS CORP TL B1 8
6 INFOR TL B 8
7 NTL CABLE PLC TL K 8
8 AUDATEX NORTH AMER INC TL B 8
9 TRANSDIGM INC TL F 8
10 AXALTA COATING SYSTEMS TL B2 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 4/13/18 - 4/20/18

 

Bid and Offer Volume-1

  • Reveals the total number of quotes by bid and offer for the period between 4/13/18 - 4/20/18

 

Sector Bid Offer Spread-1

  • Displays the bid-offer spread by sector between 4/13/18 - 4/20/18
    • 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.