---
title: Monthly Syndicated Bank Loan Market Summary - January 2020
description: Solve's Bank Loan Market Summary provides insight into trends within the overall market as well as certain sectors, ranks loan winners and losers, & more!
image: https://blog.solvefixedincome.com/hubfs/Loan%20Summaries/Monthly/2019-%20December/Avg%20Bid%20Px%20by%20Sector%20-%20December%202019.png
---

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# Solve Advisors Syndicated Bank Loan Market Summaries

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# Monthly Syndicated Bank Loan Market Summary - January 2020

[Michael Pellerito](https://www.linkedin.com/in/michael-pellerito/), February 03, 2020

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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](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#winners)
2. [Top 10 Loan Price Losers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#Top10Losers)
3. [Average Bid Price](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#AvBidPX) (By industry sector)
4. [Market Sentiment](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#Sentiment)
5. [Top Quote Volume Movers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#Movers)
6. [Most Quoted Loans](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#MostQuoted)
7. [Bid and Offer Volume](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#BidOfferVolume)
8. [Bid Offer Spread ](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/monthly-feb-3-2020#Spread) (By industry sector)

 

| **TOP 10 WINNERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1M** |
| **1** | **IMAGINE! TL** | **20.85%** | **41.07** | **33.98** |
| **2** | **HOLLAND & BARRETT EUR TL B** | **19.59%** | **69.39** | **58.02** |
| **3** | **JORDAN HEALTH TL** | **17.29%** | **84.99** | **72.46** |
| **4** | **UTEX TL B** | **17.23%** | **85.14** | **72.63** |
| **5** | **RODAN & FIELDS TL B** | **15.77%** | **68.45** | **59.13** |
| **6** | **ACCUVANT 2ND LIEN TL** | **11.41%** | **70.05** | **62.88** |
| **7** | **FIELDWOOD ENERGY EXIT 2ND LIEN TL** | **10.86%** | **60.97** | **55.00** |
| **8** | **NEIMAN MARCUS EXT TL** | **9.32%** | **85.00** | **77.75** |
| **9** | **MOXIE LIBERTY LLC TL B1** | **9.21%** | **95.88** | **87.80** |
| **10** | **SKILLSOFT EXT TL** | **8.56%** | **83.14** | **76.59** |

- Showcases the top 10 loan "winners" based on the largest bid price increases for the period between 1/1/20 - 1/31/20

| **TOP 10 LOSERS** |  |  |  |  |
| --- | --- | --- | --- | --- |
| **Rank** | **Loan** | **Chg** | **Price** | **Price - 1M** |
| **1** | **CONSTELLIS HOLDINGS LLC TL** | **-52.48%** | **23.21** | **48.83** |
| **2** | **SAVE A LOT TL B** | **-40.85%** | **20.76** | **35.10** |
| **3** | **HORNBECK OFFSHORE SVCS INC NEW 2ND LIEN TL** | **-27.07%** | **51.05** | **70.00** |
| **4** | **ISAGENIX TL** | **-19.53%** | **55.72** | **69.25** |
| **5** | **IQOR 2ND LIEN TL** | **-12.62%** | **53.48** | **61.20** |
| **6** | **ARRAY CANADA TL B** | **-12.54%** | **69.80** | **79.80** |
| **7** | **LIBBEY GLASS TL B** | **-8.51%** | **74.11** | **81.00** |
| **8** | **IMPERVA 2ND LIEN TL** | **-6.85%** | **85.59** | **91.88** |
| **9** | **SUNGARD AVAIL SERV CAP EXIT DD TL** | **-6.75%** | **89.99** | **96.50** |
| **10** | **FEECO TL** | **-6.46%** | **93.26** | **99.70** |

- Showcases the top 10 loan "losers" based on the largest bid price decreases for the period between 1/1/20 - 1/31/20

 

 ![Avg Bid PX by Sector](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/Monthly/2020%20-%20January/Avg%20Bid%20PX%20by%20Sector%20-%20January%202020.png?width=640&name=Avg%20Bid%20PX%20by%20Sector%20-%20January%202020.png)

 

- Displays the average loan bid price by sector for the period between 1/1/20 - 1/31/20 
    - Results are based on 5 select industry sectors, however, we offer data across 36 sectors

  

![Market Sentiment - Advancers vs. Decliners](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/Monthly/2020%20-%20January/Sentiment%20-%20January%202020.png?width=640&name=Sentiment%20-%20January%202020.png)

- Reveals the percent of loans increasing in price *(advancers)* vs. loans decreasing in price *(decliners)* for the period between 1/1/20 - 1/31/20

| **TOP QUOTE VOLUME MOVERS: THIS MONTH vs LAST MONTH** |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
| **RANK** | **TRANCHE** | **PRIOR MONTH** | **THIS MONTH** | **INCREASE** | **% INCREASE** |
| **1** | **ENVISION HEALTHCARE TL B** | **140** | **257** | **117** | **84%** |
| **2** | **UNITED NATURAL FOODS TL B** | **87** | **200** | **113** | **130%** |
| **3** | **VERITAS TL B1** | **25** | **135** | **110** | **440%** |
| **4** | **JBS USA TL B** | **46** | **154** | **108** | **235%** |
| **5** | **GTT COMMUNICATIONS TL B** | **152** | **255** | **103** | **68%** |
| **6** | **COOPER STANDARD TL B** | **154** | **254** | **100** | **65%** |
| **7** | **PARTY CITY TL B** | **174** | **274** | **100** | **57%** |
| **8** | **VISTRA ENERGY TL B3** | **146** | **243** | **97** | **66%** |
| **9** | **HARLAND CLARKE TL B7** | **133** | **230** | **97** | **73%** |
| **10** | **RACKSPACE HOSTING TL B** | **144** | **239** | **95** | **66%** |

- Exhibits the loans with the largest increase in quote volume for the month ending 12/31/19 vs. the month ending 1/31/20
- Includes only loans outstanding

| **MOST QUOTED LOANS** |  |  |
| --- | --- | --- |
| **RANK** | **TRANCHE** | **DEALERS** |
| **1** | **VERISURE MIDHOLDING AB EUR TL B1** | **15** |
| **2** | **WEBHELP EUR TL B** | **15** |
| **3** | **SERTA SIMMONS TL** | **14** |
| **4** | **DORNA SPORTS EUR TL B** | **14** |
| **5** | **LUMILEDS TL B** | **14** |
| **6** | **SIGMA BIDCO EUR TL B** | **14** |
| **7** | **CEVA SANTE ANIMALE EUR TL B** | **14** |
| **8** | **FRONERI EUR TL B** | **14** |
| **7** | **GRIFOLS WORLDWIDE EUR TL B** | **13** |
| **10** | **SEADRILL PARTNERS LLC EXT TL B** | **13** |

- Ranks the loans that were quoted by the highest number of dealers for the period between 1/1/20 - 1/31/20

 

 ![Bid and Offer Volume](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/Monthly/2020%20-%20January/Bid%20and%20Offer%20Volume%20-%20January%202020.png?width=640&name=Bid%20and%20Offer%20Volume%20-%20January%202020.png)

- Reveals the total number of quotes by bid and offer for the period between 1/1/20 - 1/31/20

 

![Sector Bid Offer Spread](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/Monthly/2020%20-%20January/Sector%20Bid%20Offer%20Spread%20-%20January%202020.png?width=640&name=Sector%20Bid%20Offer%20Spread%20-%20January%202020.png)

- Displays the bid-offer spread by sector between 1/1/20 - 1/31/20 
    - Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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