Solve Advisors Syndicated Bank Loan Market Summaries

  

Monthly Syndicated Bank Loan Market Summary - April 2018

Michael Pellerito, May 07, 2018

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Solve has aggregated and organized key trends derived from observable loan price data for the month of April 2018 versus March 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 CROSSMARK TL 11.52% 52.41 47.00
2 P.F. CHANG'S TL 4.47% 98.20 94.00
3 LDISCOVERY 2ND LIEN TL 4.45% 85.57 81.93
4 MURRAY ENERGY TL B2 4.32% 88.32 84.67
5 FLOATEL TL B 3.32% 85.83 83.08
6 JCREW TL B 2.97% 74.33 72.18
7 NUMERICABLE TL B12 2.55% 98.37 95.93
8 TOYS R US PROPCO TL B 2.53% 84.26 82.18
9 FLINT GROUP EUR TL B 2.07% 96.47 94.51
10 FLAKT WOODS EUR TL B 2.03% 95.79 93.89
  • Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 4/1/18 - 4/30/18
TOP 10 LOSERS
Rank Loan Chg Price Price - 1M
1 LIGHTSQUARED EXIT 2ND LIEN TL -44.82% 26.10 47.30
2 FULLBEAUTY 2ND LIEN TL -22.83% 21.03 27.26
3 CATALINA MARKETING TL B -20.45% 62.08 78.05
4 AMERICAN TIRE TL B -13.90% 86.96 101.00
5 RENTPATH 2ND LIEN TL -13.28% 85.78 98.92
6 HARVEY GULF TL A -12.42% 37.66 43.00
7 NBTY 2ND LIEN TL -11.40% 80.42 90.77
8 PHILLIPS PET TL -8.11% 62.96 68.52
9 CPI CARD GROUP TL B -7.54% 63.12 68.27
10 SMS SYSTEMS TL -7.45% 85.50 92.38
  • Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 4/1/18 - 4/30/18
 
 Average Bid PX By Sector-1
 
  • Displays the average loan bid price by sector for the period between 4/1/18 - 4/30/18
    • Results are based on 5 select industry sectors, however, we offer data across 36 sectors
  
 Sentiment-2
  • Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) for the period between 4/1/18 - 4/30/18
TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH
RANK TRANCHE

PRIOR MONTH

THIS MONTH

INCREASE % INCREASE
1 RAET HOLDING BV EUR TL B 26 126 100 385%
2 ORBITER GROUP EUR TL 26 124 98 377%
3 GVC HOLDINGS TL B 16 110 94 588%
4 GLOBAL BLUE EUR TL B 26 120 94 362%
5 VERALLIA EUR TL B4 110 188 78 71%
6 TRONOX PIGMENTS TL 143 220 77 54%
7 SURVITEC EUR TL 40 112 72 180%
8 CAMPBELL SOUP CO EUR TL B 16 87 71 444%
9 AVALOQ EUR TL 16 83 67 419%
10 WESCO AIRCRAFT TL B 80 145 65 81%
  • Exhibits the loans with the largest increase in quote volume for the month ending 3/31/18 vs. the month ending 4/30/18
  • Includes only loans outstanding
MOST QUOTED LOANS
RANK TRANCHE DEALERS
1 DELL TL B 13
2 GARDNER DENVER TL B 13
3 ALLISON TRANSMISSION TL B 12
4 KRONOS TL B 12
5 REYNOLDS GROUP TL B 12
6 TRANSDIGM INC TL F 12
7 BMC SOFTWARE TL 11
8 GATES GLOBAL TL B 10
9 CINEWORLD TL B 10
10 MISYS TL B 9
  • Ranks the loans that were quoted by the highest number of dealers for the period between 4/1/18 - 4/30/18

 

 Bid and Offer Volume-1

  • Reveals the total number of quotes by bid and offer for the period between 4/1/18 - 4/30/18

 

Sector Bid Offer Spread-2

 

  • Displays the bid-offer spread by sector between 4/1/18 - 4/30/18
    • 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.