Solve Advisors Syndicated Bank Loan Market Summaries

  

Syndicated Bank Loan Market Summary - Week Ending 11/22/19

Michael Pellerito, November 25, 2019

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Our weekly newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly 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 - 1W
1 ASCENA RETAIL TL B 8.34% 60.06 55.44
2 STEINHOFF EUROPE AG 2ND LIEN EUR TL 5.14% 65.44 62.24
3 RENTPATH TL 4.04% 46.96 45.14
4 ROCKET SOFTWARE TL 3.79% 90.23 86.94
5 KCA DEUTAG TL B 3.67% 67.07 64.69
6 M/A-COM TECHNOLOGY SOLUTIONS TL B 3.49% 90.66 87.61
7 TIERPOINT TL 3.23% 92.81 89.90
8 RACKSPACE HOSTING TL B 3.20% 93.24 90.35
9 YAK MAT TL B 2.63% 91.46 89.11
10 JARDEN TL B 2.43% 90.65 88.50
  • Showcases the top 10 loan "winners" based on the largest bid price increases between 11/15/19 - 11/22/19
TOP 10 LOSERS
Rank Loan Chg Price Price - 1W
UTEX 2ND LIEN TL -35.16% 49.09 75.72
LIGHTSQUARED EXIT PIK TL -24.82% 57.84 76.93
MURRAY ENERGY TL B3 -19.99% 22.93 28.66
JASON INC 2ND LIEN TL -18.62% 62.88 77.26
SEADRILL PARTNERS LLC EXT TL B -14.96% 41.88 49.25
GLOBAL TELESYSTEMS 2ND LIEN TL -14.42% 80.47 94.03
BOYD CORP 2ND LIEN TL -11.69% 75.55 85.55
LSC COMMUNICATIONS TL B -9.84% 65.39 72.53
FORESIGHT ENERGY TL -9.30% 45.12 49.75
10  TEAM HEALTH TL -8.12% 72.14 78.52
  • Showcases the top 10 loan "losers" based on the largest bid price decreases between 11/15/19 - 11/22/19
 
 Avg Bid PX by Sector
  • Displays the average loan bid price by sector between 11/15/19 - 11/22/19
    • 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) between 11/15/19 - 11/22/19
TOP QUOTE VOLUME MOVERS: THIS WEEK vs LAST WEEK
RANK TRANCHE

PRIOR WEEK

THIS WEEK

INCREASE % INCREASE
1 AMERICAN AIRLINES TL B 25 52 27 108%
2 TRANSDIGM INC. TL E 44 70 26 59%
3 CENGAGE TL 24 48 24 100%
4 BMC SOFTWARE TL B 30 53 23 77%
5 STARS GROUP TL B 30 53 23 77%
6 TRANSUNION TL B5 7 30 23 329%
7 WARNER MUSIC TL B 42 65 23 55%
8 SIRIUS COMPUTER TL 14 34 20 143%
9 BRIGHTSPRING TL B 14 34 20 143%
10 DAVITA TL B 42 62 20 48%
  • Exhibits the loans with the largest increase in quote volume for the week ending 11/15/19 vs. the week ending 11/22/19
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 MCDERMOTT TL B 15
2 VERISURE MIDHOLDING AB EUR TL B1 14
3 SEADRILL PARTNERS LLC EXT TL B 14
4 ZIGGO EUR TL H 14
5 NORD ANGLIA EDUCATION FINANC EUR TL B 14
6 MACDONALD DETTWILER TL B 14
7 GRIFOLS WORLDWIDE TL B 13
8 DORNA SPORTS EUR TL B 13
9 LUMILEDS TL B 13
10 ACTION NEDERLAND EUR TL B 13
  • Ranks the loans that were quoted by the highest number of dealers between 11/15/19 - 11/22/19

 

 Bid and Offer Volume

  • Reveals the total number of quotes by bid and offer between 11/15/19 - 11/22/19

 

 Sector Bid Offer Spread

  • Displays the bid-offer spread by sector between 11/15/19 - 11/22/19
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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