Solve Advisors Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - July 2019

Michael Pellerito, August 05, 2019

Solve Advisor's monthly 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 month of July 2019 versus June 2019.  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 - 1M
1 LIGHTSQUARED EXIT PIK 2ND LIEN TL 30.94% 34.20 26.12
2 DEL MONTE TL 9.18% 76.46 70.03
3 ALSTOM SA EUR TL B2 8.07% 98.84 91.46
4 STEINHOFF INTERNATIONAL TL B1 7.66% 86.22 80.09
5 ONE CALL EXT TL B 7.45% 86.57 80.57
6 HILDING ANDERS SEK TL B 7.30% 84.75 78.98
7 ALSTOM SA TL B2 6.06% 95.93 90.44
8 YORK RISK SERVICES TL B 6.02% 99.82 94.16
9 STRATEGIC MATERIALS TL 4.08% 89.75 86.23
10 HEALTHPORT TL B 3.83% 84.05 80.95
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 7/1/19 - 7/31/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 PIER 1 TL B -42.13% 25.00 43.20
2 4L TECHNOLOGIES INC. TL B -39.31% 59.10 97.38
3 GAVILAN RESOURCES 2ND LIEN TL -25.11% 44.16 58.97
4 SYNCREON TL B -19.59% 46.88 58.31
5 DITECH EXIT TL B -15.68% 36.41 43.18
6 FORESIGHT ENERGY TL -12.99% 72.10 82.86
7 SEADRILL PARTNERS LLC EXT TL B -7.87% 65.61 71.21
8 SECURUS TL -7.76% 90.96 98.61
9 MURRAY ENERGY TL B2 -7.68% 62.92 68.16
10 AMNEAL PHARMACEUTIAL TL B -7.14% 92.29 99.38
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 7/1/19 - 7/31/19
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 7/1/19 - 7/31/19
    • 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 7/1/19 - 7/31/19
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 AMEDEO MSN 157 EUR TL B 162 282 120 74%
2 4L TECHNOLOGIES INC. TL B 20 134 114 570%
3 NEXSTAR BROADCASTING TL B 44 158 114 259%
4 FLINT GROUP EUR TL B 108 217 109 101%
5 ALL 3 MEDIA EUR TL B 182 291 109 60%
6 SIGMA BIDCO TL B 101 203 102 101%
7 GVC HOLDINGS EUR TL B2 163 260 97 60%
8 OXEA EUR TL B1 187 278 91 49%
9 CROWN AMERICAS EUR TL B 146 236 90 62%
10 AKZONOBEL SPECIALTY CHEMICALS EUR TL B 201 286 85 42%
  • Exhibits the loans with the largest increase in quote volume for the month ending 6/30/19 vs. the month ending 7/31/19
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 FIRST DATA CORP TL B - 2024 14
2 FIRST DATA CORP TL B - 2022 10
3 IHEART TL B 10
4 COMMERCIAL BARGE TL B 10
5 VANTIV INC TL B4 10
6 MISYS 2ND LIEN TL 9
7 ADVANTAGE SALES TL B2 9
8 INTERNET BRANDS TL 9
7 VANTIV INC TL A5 9
10 ALLISON TRANSMISSION TL B 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 7/1/19 - 7/31/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 7/1/19 - 7/31/19

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 7/1/19 - 7/31/19
    • 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.