Solve Advisors Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - May 2018

Michael Pellerito, June 04, 2018

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 May 2018 versus April 2018.  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 COMMERCIAL BARGE TL 16.80% 67.94 58.17
2 TENSAR 2ND LIEN TL 12.37% 91.89 81.77
3 JCREW TL B 11.65% 82.98 74.33
4 HARVEY GULF TL A 9.89% 41.38 37.66
5 CATALINA MARKETING TL B 9.64% 68.07 62.08
6 AENOVA 2ND LIEN EUR TL 9.08% 90.52 82.98
7 MURRAY ENERGY TL B2 5.34% 93.04 88.32
8 LONGVIEW POWER EXIT TL B 4.93% 87.50 83.38
9 SOLENIS 2ND LIEN TL 3.89% 98.72 95.02
10 CTI FOODS 2ND LIEN TL 2.12% 75.57 74.00
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 5/1/18 - 5/31/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 PHILLIPS PET TL -12.42% 55.14 62.96
2 BLACKHAWK MINING TL B1 -9.30% 77.41 85.34
3 BELK TL B -8.97% 77.27 84.88
4 SMS SYSTEMS TL -5.77% 80.57 85.50
5 GULF FINANCE TL B -4.96% 85.61 90.08
6 SERTA SIMMONS 2ND LIEN TL -4.54% 75.76 79.37
7 VERITAS TL B1 -4.20% 94.70 98.85
8 BIOCLINICA TL -4.14% 93.46 97.50
9 SLV GROUP GMBH EUR TL B -3.59% 93.69 97.18
10 JC PENNEY TL B -3.12% 94.16 97.19
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 5/1/18 - 5/31/18
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 5/1/18 - 5/31/18
    • 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 5/1/18 - 5/31/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 BMC SOFTWARE TL B1 2 308 306 15300%
2 CHEMOURS TL B 49 178 129 263%
3 JAGUAR HOLDING CO I TL 138 249 111 80%
4 EG GROUP GBP TL B 137 246 109 80%
5 COTY TL B 86 182 96 112%
6 PRESTIGE BRANDS TL B 67 162 95 142%
7 DUEMMEN ORANGE EUR TL 62 154 92 148%
8 SHUTTERFLY TL B 46 135 89 193%
9 AMERICAN TIRE TL B 110 197 87 79%
10 EG GROUP EUR TL B 98 180 82 84%
  • Exhibits the loans with the largest increase in quote volume for the month ending 4/30/18 vs. the month ending 5/31/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 10
2 GARDNER DENVER TL B 9
3 BMC SOFTWARE TL B1 9
4 WARNER MUSIC TL B 9
5 ALLISON TRANSMISSION TL B 9
6 COMMERCIAL BARGE TL 8
7 BLACKBOARD TL B4 8
8 INFOR TL B 8
9 MISYS TL B 8
10 APPLIED SYSTEMS TL B 8
  • Ranks the loans that were quoted by the highest number of dealers for the period between 5/1/18 - 5/31/18

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 5/1/18 - 5/31/18

 

Sector Bid Offer Spread

 

  • Displays the bid-offer spread by sector between 5/1/18 - 5/31/18
    • 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.