Solve Advisors Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 8/9/19

Michael Pellerito, August 12, 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, August 2nd - Friday, August 9th.  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 SMS SYSTEMS TL 4.76% 80.60 76.94
2 STEINHOFF EUROPE AG TL A2 2.56% 72.09 70.29
3 APEX TOOLS TL B 1.55% 97.84 96.35
4 LGC TL B3 1.48% 99.64 98.19
5 BOMBARDIER RECREATIONAL TL B2 0.98% 99.59 98.62
6 FORTERRA TL 0.96% 93.77 92.88
7 NOVAFR EUR TL B 0.93% 98.30 97.39
8 LINER FOODS TL B 0.73% 96.27 95.57
9 AIR METHODS TL 0.71% 84.24 83.64
10 SEQUA 2ND LIEN TL 0.63% 97.49 96.88
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 8/2/19 - 8/9/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
MCS TL B -10.68% 51.75 57.94
GAVILAN RESOURCES 2ND LIEN TL -7.16% 41.76 44.98
ENVISION HEALTHCARE TL B -6.27% 79.81 85.15
CAMPING WORLD TL B -6.07% 87.85 93.52
FIELDWOOD ENERGY EXIT 2ND LIEN TL -5.35% 76.74 81.08
JO-ANN STORES TL B -5.21% 80.73 85.16
4L TECHNOLOGIES INC. TL B -4.95% 55.00 57.87
GTT COMMUNICATIONS TL B -4.60% 83.11 87.11
CALIFORNIA RESOURCES TL -3.70% 91.01 94.51
10  REVLON TL B -3.68% 77.88 80.85
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 8/2/19 - 8/9/19
 
 Avg Bid PX by Sector
  • Displays the average loan bid price by sector for the period between 8/2/19 - 8/9/19
    • 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 8/2/19 - 8/9/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 BLITZ F18675 GMBH EUR TL B3 18 53 35 194%
2 PEPKOR GBP TL 6 30 24 400%
3 WITTUR EUR TL B 37 58 21 57%
4 VISTEON TL B 32 50 18 56%
5 MSX INTERNATIONAL EUR TL B3 10 28 18 180%
6 AMERICAN AXLE & MANUFACTURING TL 18 36 18 100%
7 AREAS EUR TL B1 26 44 18 69%
8 DELUXE ENTERTAINMENT TL B 20 38 18 90%
9 GROCERY OUTLET TL 18 35 17 94%
10 WEB.COM TL B 18 34 16 89%
  • Exhibits the loans with the largest increase in quote volume for the week ending 8/2/19 vs. the week ending 8/9/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 STYROLUTION TL B 13
2 SERTA SIMMONS TL 12
3 ALBERTSONS TL B6 12
4 MACDONALD DETTWILER TL B 12
5 FIRST DATA CORP TL B 12
6 ALBERTSONS TL B7 12
7 ALBERTSONS TL B5 11
8 LAS VEGAS SANDS TL B 11
9 UNITY MEDIA GMBH TL E 11
10 WEBHELP EUR TL B 11
  • Ranks the loans that were quoted by the highest number of dealers for the period between 8/2/19 - 8/9/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 8/2/19 - 8/9/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 8/2/19 - 8/9/19
    • 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.