---
title: Syndicated Bank Loan Market Summary - Week Ending 11/22/19
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/2019-11-25/Sector%20Bid%20Offer%20Spread%20-%2011.25.19.png
---

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# Solve Advisors Syndicated Bank Loan Market Summaries

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

[Michael Pellerito](https://www.linkedin.com/in/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](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#winners)
2. [Top 10 Loan Price Losers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#Top10Losers)
3. [Average Bid Price](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#AvBidPX) (By industry sector)
4. [Market Sentiment](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#Sentiment)
5. [Top Quote Volume Movers](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#Movers)
6. [Most Quoted Loans](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#MostQuoted)
7. [Bid and Offer Volume](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#BidOfferVolume)
8. [Bid Offer Spread](https://blog.solvefixedincome.com/syndicated-bank-loan-market-summary/nov-25-2019#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** |
| **1 ** | **UTEX 2ND LIEN TL** | **-35.16%** | **49.09** | **75.72** |
| **2 ** | **LIGHTSQUARED EXIT PIK TL** | **-24.82%** | **57.84** | **76.93** |
| **3 ** | **MURRAY ENERGY TL B3** | **-19.99%** | **22.93** | **28.66** |
| **4 ** | **JASON INC 2ND LIEN TL** | **-18.62%** | **62.88** | **77.26** |
| **5 ** | **SEADRILL PARTNERS LLC EXT TL B** | **-14.96%** | **41.88** | **49.25** |
| **6 ** | **GLOBAL TELESYSTEMS 2ND LIEN TL** | **-14.42%** | **80.47** | **94.03** |
| **7 ** | **BOYD CORP 2ND LIEN TL** | **-11.69%** | **75.55** | **85.55** |
| **8 ** | **LSC COMMUNICATIONS TL B** | **-9.84%** | **65.39** | **72.53** |
| **9 ** | **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](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2019-11-25/Avg%20Bid%20PX%20by%20Sector%20-%2011.25.19.png?width=634&name=Avg%20Bid%20PX%20by%20Sector%20-%2011.25.19.png)

- 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](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2019-11-25/Sentiment%20-%2011.25.19.png?width=622&name=Sentiment%20-%2011.25.19.png)

- 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](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2019-11-25/Bid%20and%20Offer%20Volume%20-%2011.25.19.png?width=607&name=Bid%20and%20Offer%20Volume%20-%2011.25.19.png)

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

 

 ![Sector Bid Offer Spread](https://blog.solvefixedincome.com/hs-fs/hubfs/Loan%20Summaries/2019-11-25/Sector%20Bid%20Offer%20Spread%20-%2011.25.19.png?width=613&name=Sector%20Bid%20Offer%20Spread%20-%2011.25.19.png)

- 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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