Solve Advisors Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - August 2019

Michael Pellerito, September 03, 2019

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Our monthly newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a monthly period.

  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 BUCCANEER 2ND LIEN TL 6.85% 74.90 70.10
2 ADVANTAGE SALES 2ND LIEN TL 6.06% 85.05 80.19
3 SMS SYSTEMS TL 5.68% 79.44 75.17
4 HEALTHPORT TL B 5.65% 88.79 84.05
5 OWENS & MINOR DISTRIBUTION TL B 5.18% 84.67 80.50
6 HIGHLINE AFTERMARKET ACQUISITION TL 4.69% 84.16 80.38
7 RADIATION THERAPY SERVICES TL B 3.04% 89.57 86.93
8 US TELEPACIFIC TL B 2.69% 97.49 94.94
9 CONSOLIDATED COMMUNICATIONS TL B2 2.63% 95.66 93.20
10 CSM N V 2ND LIEN TL 2.57% 93.25 90.91
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 8/1/19 - 8/31/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 CONSTELLIS HOLDINGS LLC 2ND LIEN TL -60.01% 34.17 85.46
2 MCS TL B -40.45% 34.76 58.37
3 NPC 2ND LIEN TL -29.09% 39.89 56.26
4 DITECH EXIT TL B -24.75% 27.26 36.22
5 EXELA TL B -24.53% 64.73 85.77
6 SAVE A LOT TL B -15.27% 44.34 52.33
7 INTERNAP TL B -13.55% 75.56 87.41
8 JO-ANN STORES 2ND LIEN TL -10.54% 73.35 81.99
9 ACCUVANT 2ND LIEN TL -10.37% 79.32 88.50
10 JASON INC 2ND LIEN TL -10.30% 80.30 89.51
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 8/1/19 - 8/31/19
 
 Avg Bid PX by Sector
 
  • Displays the average loan bid price by sector for the period between 8/1/19 - 8/31/19
    • 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 8/1/19 - 8/31/19
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 PEPKOR GBP TL 2 82 80 4000%
2 SHUTTERFLY DD TL B 112 189 77 69%
3 8TH AVENUE FOOD & PROVISIONS TL 93 157 64 69%
4 GTT COMMUNICATIONS TL B 198 260 62 31%
5 BERRY PLASTICS TL R 131 192 61 47%
6 ALORICA TL B 70 128 58 83%
7 CARLISLE FOODSERVICE TL 60 118 58 97%
8 SS&C TECH TL B4 108 166 58 54%
9 BOMBARDIER RECREATIONAL TL B2 26 81 55 212%
10 MILLENNIUM TRUST TL 57 112 55 96%
  • Exhibits the loans with the largest increase in quote volume for the month ending 7/31/19 vs. the month ending 8/31/19
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 ENVISION HEALTHCARE TL B 14
2 BAUSCH HEALTH COMPANIES INC. TL B 13
3 MACDONALD DETTWILER TL B 11
4 SERTA SIMMONS TL 11
5 SKILLSOFT EXT TL 10
6 ROYALTY PHARMA TL B6 10
7 VERITAS TL B1 10
8 LUMILEDS DD TL 10
7 CINEWORLD TL B 10
10 PENN NATIONAL GAMING TL B 10
  • Ranks the loans that were quoted by the highest number of dealers for the period between 8/1/19 - 8/31/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer for the period between 8/1/19 - 8/31/19

 

Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 8/1/19 - 8/31/19
    • 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.