Solve Advisors Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 6/8/18

Michael Pellerito, June 11, 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, June 1st - Friday, June 8th.  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 PETSMART TL B 7.32% 83.53 77.84
2 NBTY 2ND LIEN TL 2.98% 79.87 77.56
3 ACADEMY SPORTS TL B 2.51% 81.18 79.19
4 MURRAY ENERGY TL B3 2.08% 94.98 93.05
5 PETCO TL B 1.34% 70.93 69.99
6 BELK TL B 1.33% 78.26 77.24
7 MALLINCKRODT TL B 0.73% 99.58 98.86
8 SKILLSOFT EXT TL 0.69% 93.74 93.09
9 PAYSAFE TL B1 0.68% 99.86 99.19
10 CENGAGE TL 0.62% 90.11 89.55
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 6/1/18 - 6/8/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 SGB-SMIT EUR TL B -1.93% 92.28 94.10
2 ROBERTSHAW 2ND LIEN TL -1.16% 98.34 99.50
3 HEALTHPORT TL B -1.08% 95.99 97.04
4 STRATEGIC MATERIALS 2ND LIEN TL -0.94% 97.86 98.79
5 AMERICAN ROCK SALT TL B -0.85% 99.27 100.12
6 ACOSTA TL B -0.84% 79.50 80.18
7 HARSCO CORP TL B -0.78% 100.33 101.11
8 VERITAS EUR TL B -0.73% 96.58 97.29
9 HOUSTON FUEL OIL TERMINAL TL B -0.71% 100.00 100.71
10 ALBANY MOLECULAR RESH INC 2ND LIEN TL -0.65% 100.34 101.00
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 6/1/18 - 6/8/18
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 6/1/18 - 6/8/18
    • 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 6/1/18 - 6/8/18

 

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

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 TELENET TL A 10 36 26 260%
2 ADVANCED DISPOSAL TL B 42 61 19 45%
3 BUILDERS FIRSTSOURCE TL B 40 59 19 48%
4 CALPINE CONSTRUCTION FINANCE TL 25 43 18 72%
5 AMWINS 2ND LIEN TL 38 56 18 47%
6 VICI PROPERTIES TL B 30 48 18 60%
7 BERLIN PACKAGING TL B 24 41 17 71%
8 DTZ TL B 33 50 17 52%
9 HELIX GENERATION TL B 32 49 17 53%
10 TESSERA TECH TL B 7 24 17 243%
  • Exhibits the loans with the largest increase in quote volume for the week ending 6/1/18 vs. the week ending 6/8/18

 

MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 VF HOLDINGS CORP TL 9
2 DELL TL B 9
3 SPRINGER NATURE TL B13 8
4 TRAVELPORT TL B 8
5 UPC TL 8
6 ALLISON TRANSMISSION TL B 8
7 BRAND ENERGY TL 8
8 RACKSPACE HOSTING TL B 8
9 NTL CABLE PLC TL K 8
10 RCN GRANDE TL B 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 6/1/18 - 6/8/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 6/1/18 - 6/8/18

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 6/1/18 - 6/8/18
    • 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.