Syndicated Bank Loan Market Summary – Week Ending 12/9/22
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 12/9/22
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
New Issues
Loans issued during the week ending 12/9/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Axalta Coating Systems US Holdings Inc. | 2000 | Term Loan | 11/29/2029 | S+300 |
| Guggenheim Partners Investment Mgmt Hldgs LLC | 785 | Term Loan | 11/30/2029 | S+325 |
| American Axle & Manufacturing Inc. | 675 | Term Loan | 12/2/2029 | S+360 |
| Altice Intl. SARL | 1600 | Term Loan | 10/1/2027 | S+500 |
| TransDigm Group Inc. | 1725 | Term Loan | 2/1/2027 | S+350 |
forward calendar
Forward calendar during the week ending 12/9/22
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Dealer Tire | $1.35B TLB (B1) | JPM | Q4 2022 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF, BMO, CTZ, TRS | Q4 2022 |
| Moneygram International Inc. | $850MM credit facilities: $150MM RC; $700MM TL | GS, DB, BCLY, WF | Q4 2022 |
| Tegna Inc. | $4B credit facilities: $500MM RC; $3.5B TL | RBC, BofA, GS, TRS, BNP, CS, JEFF, MIZ, TD, BCLY, DB, MUFG, CTB, SMBC | Q4 2022 |
| Vistage Worldwide | $44MM TL | GLB | Q4 2022 |
| 888 Holdings PLC | $75MM TLB (B1/B/BB+) | MS, JPM, BCLY | Q4 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/2/22 – 12/9/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.25% | 95.03 | 95.27 | 10 |
| 2 | 5,000 | UNITED CONTINENTAL TL B | -0.19% | 98.56 | 98.75 | 12 |
| 3 | 4,750 | ZAYO TL | 2.71% | 79.81 | 77.70 | 13 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.04% | 99.49 | 99.45 | 14 |
| 5 | 3,900 | DIRECTV TL | 0.37% | 96.21 | 95.86 | 13 |
| 6 | 3,600 | CDK GLOBAL TL | -0.09% | 98.89 | 98.98 | 12 |
| 7 | 3,582 | MISYS TL B | -1.15% | 89.07 | 90.11 | 13 |
| 8 | 3,524 | TRANSDIGM INC. TL F | 0.16% | 98.53 | 98.38 | 15 |
| 9 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.34% | 93.70 | 93.39 | 10 |
| 10 | 3,500 | PILOT TRAVEL TL B | -0.10% | 98.31 | 98.41 | 10 |
| 11 | 3,400 | REFRESCO HOLDING EUR TL B | -0.11% | 96.43 | 96.53 | 13 |
| 12 | 3,380 | SOLERA TL B | 0.00% | 92.05 | 92.05 | 15 |
| 13 | 3,325 | CINEWORLD TL B | -7.03% | 19.42 | 20.89 | 15 |
| 14 | 3,312 | HUB INTL LTD TL B | 0.14% | 98.19 | 98.06 | 13 |
| 15 | 3,300 | NTL CABLE PLC TL N | 0.07% | 97.63 | 97.56 | 11 |
| 16 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | -6.32% | 14.50 | 15.48 | 11 |
| 17 | 3,190 | INTELSAT EXIT TL B | -0.03% | 96.41 | 96.45 | 10 |
| 18 | 3,100 | TRANSUNION TL B6 | 0.03% | 98.41 | 98.38 | 10 |
| 19 | 3,000 | WESTINGHOUSE TL B | 0.20% | 98.22 | 98.03 | 10 |
| 20 | 3,000 | DELTA SKYMILES TL B | 0.16% | 101.76 | 101.59 | 11 |
| AVERAGE | 3,778 | -0.55% | 88.03 | 88.07 | 12.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/2/22 – 12/9/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | GOPHER RESOURCE TL | 5.45% | 69.67 | 66.07 | 10 |
| 2 | ZAYO TL | 2.71% | 79.81 | 77.70 | 13 |
| 3 | BAUSCH HEALTH COMPANIES INC. TL B | 1.95% | 75.44 | 74.00 | 13 |
| 4 | SPRINGS WINDOW TL B | 1.91% | 80.76 | 79.25 | 7 |
| 5 | ASSUREDPARTNERS TL B | 1.72% | 98.05 | 96.40 | 7 |
| 6 | USS PARENT TL B | 1.53% | 82.76 | 81.51 | 12 |
| 7 | IMPERVA TL | 1.41% | 81.46 | 80.32 | 8 |
| 8 | HEARTHSIDE FOODS TL B | 1.33% | 87.82 | 86.67 | 12 |
| 9 | CROCS TL B | 1.19% | 97.57 | 96.43 | 9 |
| 10 | STAPLES TL B1 | 0.97% | 90.20 | 89.33 | 14 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/2/22 – 12/9/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | -15.01% | 47.44 | 55.82 | 16 |
| 2 | WEST MARINE 2ND LIEN TL B | -13.03% | 54.16 | 62.27 | 4 |
| 3 | RSA SECURITY LLC 2ND LIEN TL | -11.63% | 39.59 | 44.80 | 8 |
| 4 | TROPICANA 2ND LIEN TL | -6.79% | 82.72 | 88.75 | 6 |
| 5 | PRETIUM PACKAGING TL B | -6.25% | 78.52 | 83.76 | 7 |
| 6 | WHEEL PROS TL | -5.77% | 61.86 | 65.65 | 13 |
| 7 | XPLORNET TL | -2.77% | 78.72 | 80.96 | 5 |
| 8 | AIR MEDICAL TL B | -2.38% | 76.35 | 78.21 | 10 |
| 9 | PATHWAY PARTNERS VET MANAGEMENT TL | -2.20% | 85.53 | 87.46 | 7 |
| 10 | VISUAL COMFORT TL | -2.17% | 89.63 | 91.62 | 7 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/2/22 – 12/9/22 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Sentiment
Reveals the percent of loans increasing in price (advancers) vs. loans decreasing in price (decliners) between 12/2/22 – 12/9/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/2/22 vs. the week ending 12/9/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PROMONTORY TL | 0 | 43 | 43 | NA |
| 2 | SCIENTIFIC GAMES TL B | 58 | 86 | 28 | 48% |
| 3 | SABRE INDUSTRIES TL | 36 | 60 | 24 | 67% |
| 4 | FIRST STUDENT TL B | 28 | 52 | 24 | 86% |
| 5 | PRETIUM PACKAGING TL B | 25 | 48 | 23 | 92% |
| 6 | COMPREHENSIVE EYECARE PARTNERS EXT TL B | 5 | 28 | 23 | 460% |
| 7 | TEAM HEALTH EXT TL B | 24 | 46 | 22 | 92% |
| 8 | JMC STEEL TL | 24 | 46 | 22 | 92% |
| 9 | ION CORPORATES TL B | 38 | 58 | 20 | 53% |
| 10 | COREL TL | 22 | 42 | 20 | 91% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/2/22 – 12/9/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | SIGMA BIDCO GBP TL B4 | 17 |
| 2 | CONVERGEONE TL B | 17 |
| 3 | AMC ENTERTAINMENT TL B1 | 16 |
| 4 | TRANSDIGM INC. TL E | 16 |
| 5 | BMC SOFTWARE TL B | 16 |
| 6 | BRAND ENERGY TL | 16 |
| 7 | FRONERI TL B | 16 |
| 8 | CERBA HEALTHCARE EUR TL C | 15 |
| 9 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 15 |
| 10 | NTL CABLE PLC GBP TL M | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/2/22 – 12/9/22
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
