Solve Advisors Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - June 2019

Michael Pellerito, July 01, 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 June 2019 versus May 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 DEOLEO EUR TL B 22.78% 37.25 30.34
2 SKILLSOFT EXT 2ND LIEN TL 14.28% 34.71 30.37
3 CELSA GROUP EUR TL 6.95% 80.21 75.00
4 99 CENTS ONLY EXT PIK TL B 6.27% 91.19 85.81
5 ADVANTAGE SALES 2ND LIEN TL 6.15% 79.10 74.52
6 IEA TL 4.65% 92.14 88.04
7 PACIFIC GAS AND ELECTRIC COMPANY DIP REV 4.38% 97.15 93.08
8 CONCORDIA HEALTHCARE TL 4.02% 96.98 93.22
9 WINEBOW TL B 3.95% 89.51 86.11
10 MACDONALD DETTWILER TL B 3.51% 89.81 86.76
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 6/1/19 - 6/30/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 HEALOGICS 2ND LIEN TL -44.37% 34.86 62.66
2 DITECH EXIT TL B -24.64% 43.18 57.30
3 ASCENA RETAIL TL B -21.43% 66.52 84.66
4 GAVILAN RESOURCES 2ND LIEN TL -20.32% 58.97 74.01
5 ACOSTA TL B -13.01% 36.30 41.73
6 SOUTHCROSS PROPCO TL B -12.96% 69.53 79.88
7 MURRAY ENERGY TL B2 -12.20% 68.16 77.63
8 MITEL NETWORKS 2ND LIEN TL -10.45% 87.77 98.01
9 KCA DEUTAG TL B -10.36% 75.33 84.04
10 JO-ANN STORES TL B -10.31% 88.57 98.75
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 6/1/19 - 6/30/19
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 6/1/19 - 6/30/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
Sentiment - Advancers vs. Decliners
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 6/1/19 - 6/30/19
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 EIRCOM FDG EUR TL B5 94 202 108 115%
2 USI HOLDINGS TL B 85 170 85 100%
3 HARLAND CLARKE TL B7 160 243 83 52%
4 JOHNSON CONTROLS INTERNATIONAL PUBLIC LIMITED COMPANY TL 107 186 79 74%
5 PREMIER OIL REV 42 109 67 160%
6 VERIFONE TL B 83 149 66 80%
7 NATIONAL VET TL B 50 114 64 128%
8 JBS USA TL B 211 274 63 30%
9 NETS HOLDINGS EUR TL B 4 66 62 1550%
10 DAE AVIATION TL 50 111 61 122%
  • Exhibits the loans with the largest increase in quote volume for the month ending 5/31/19 vs. the month ending 6/30/19
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 HILTON TL B2 12
2 NIDDA HEALTHCARE HOLDING GMBH EUR TL C 12
3 EPHIOS BONDCO EUR TL B 11
4 MACDONALD DETTWILER TL B 11
5 EPICOR SOFTWARE TL B 10
6 BUCCANEER TL 10
7 MONITRONICS TL B2 10
8 AIR METHODS TL 10
7 WEST CORP TL B1 10
10 INTERNET BRANDS TL 10
  • Ranks the loans that were quoted by the highest number of dealers for the period between 6/1/19 - 6/30/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 6/1/19 - 6/30/19

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 6/1/19 - 6/30/19
    • 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.