Solve Advisors Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 6/1/18

Michael Pellerito, June 04, 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, May 25th - Friday, June 1st.  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 JCREW TL B 9.41% 83.77 76.57
2 NBTY 2ND LIEN TL 7.72% 77.56 72.00
3 LIGHTSQUARED EXIT TL 4.90% 84.58 80.63
4 LDISCOVERY 2ND LIEN TL 2.53% 87.94 85.77
5 MURRAY ENERGY TL B3 1.60% 93.05 91.58
6 REVLON TL B 1.39% 78.30 77.22
7 ACADEMY SPORTS TL B 1.10% 79.19 78.33
8 US TELEPACIFIC TL B 1.07% 98.49 97.45
9 LANDESK TL 1.01% 98.75 97.76
10 LIBBEY GLASS TL B 0.99% 98.43 97.46
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 5/25/18 - 6/1/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
1 PHILLIPS PET TL -9.30% 54.32 59.90
2 SEADRILL PARTNERS LLC EXT TL B -1.86% 86.88 88.53
3 DOUGLAS DYNAMICS EUR TL B8 -1.55% 92.31 93.76
4 ACOSTA TL B -1.44% 80.18 81.35
5 GULF FINANCE TL B -1.38% 85.47 86.67
6 DIVERSEY EUR TL -1.25% 97.99 99.23
7 SGB-SMIT EUR TL B -1.00% 94.10 95.05
8 LESLIE'S POOLMART TL B -0.90% 99.92 100.83
9 CTI FOODS 2ND LIEN TL -0.87% 74.84 75.50
10 EAGLECLAW TL B -0.77% 97.43 98.18
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 5/25/18 - 6/1/18
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 5/25/18 - 6/1/18
    • 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 5/25/18 - 6/1/18

 

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

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 SEADRILL PARTNERS LLC EXT TL B 27 38 11 41%
2 JCREW TL B 27 37 10 37%
3 INFOR EUR TL B 0 8 8 N/A
4 AENOVA 2ND LIEN EUR TL 22 30 8 36%
5 FORESIGHT ENERGY TL 18 26 8 44%
6 CTI FOODS 2ND LIEN TL 13 20 7 54%
7 REFRESCO HOLDING EUR TL B 14 21 7 50%
8 RESEARCH NOW 2ND LIEN TL 0 6 6 N/A
9 SIRIUS COMPUTER TL 20 26 6 30%
10 MMODAL EQUITY 6 12 6 100%
  • Exhibits the loans with the largest increase in quote volume for the week ending 5/25/18 vs. the week ending 6/1/18

 

MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 9
2 CISION TL B 9
3 INFOR TL B 8
4 MICRO FOCUS TL B3 8
5 VALEANT PHARMACEUTICALS TL F 8
6 BMC SOFTWARE TL B1 8
7 TRAVELPORT TL B 8
8 REYNOLDS GROUP TL B 8
9 ZAYO TL B2 8
10 NTL CABLE PLC TL K 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 5/25/18 - 6/1/18

 

Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 5/25/18 - 6/1/18

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 5/25/18 - 6/1/18
    • 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.