Syndicated Bank Loan Market Summary – Week Ending 12/23/22
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Syndicated Bank Loan Market Summary: Week Ending 12/23/22
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
forward calendar
Forward calendar during the week ending 12/23/22
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| New Pubco Inc | $150 credit facilities: $75MM RC | N/A | Q4 2022 |
| Consumer Direct Care Network Inc. | $150MM credit facilities: $75MM TL; $75MM RC | N/A | 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 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/16/22 – 12/23/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.11% | 94.79 | 94.89 | 11 |
| 2 | 5,000 | UNITED CONTINENTAL TL B | -0.27% | 98.53 | 98.79 | 14 |
| 3 | 4,750 | ZAYO TL | 0.22% | 80.43 | 80.25 | 14 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.00% | 99.72 | 99.72 | 14 |
| 5 | 3,900 | DIRECTV TL | 0.12% | 97.00 | 96.89 | 12 |
| 6 | 3,600 | CDK GLOBAL TL | 0.11% | 98.96 | 98.85 | 12 |
| 7 | 3,582 | MISYS TL B | 0.15% | 88.59 | 88.45 | 11 |
| 8 | 3,524 | TRANSDIGM INC. TL F | 0.11% | 98.72 | 98.61 | 14 |
| 9 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.31% | 93.81 | 94.10 | 10 |
| 10 | 3,500 | AMERICAN AIRLINES TL B | 0.21% | 99.48 | 99.27 | 10 |
| 11 | 3,400 | REFRESCO HOLDING EUR TL B | -0.07% | 96.16 | 96.23 | 14 |
| 12 | 3,380 | SOLERA TL B | -0.38% | 91.66 | 92.01 | 14 |
| 13 | 3,325 | CINEWORLD TL B | -4.96% | 17.37 | 18.28 | 13 |
| 14 | 3,312 | HUB INTL LTD TL B | 0.27% | 98.80 | 98.53 | 12 |
| 15 | 3,300 | NTL CABLE PLC TL N | 0.37% | 98.22 | 97.86 | 11 |
| 16 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | -0.39% | 14.18 | 14.24 | 10 |
| 17 | 3,100 | TRANSUNION TL B6 | 0.52% | 98.87 | 98.36 | 10 |
| 18 | 3,000 | DELTA SKYMILES TL B | 0.08% | 101.86 | 101.77 | 11 |
| 19 | 2,985 | HARBOR FREIGHT TL B | -0.29% | 95.26 | 95.54 | 11 |
| 20 | 2,884 | BMC SOFTWARE TL B | -0.12% | 95.61 | 95.72 | 15 |
| AVERAGE | 3,762 | -0.24% | 87.90 | 87.92 | 12.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/16/22 – 12/23/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 5.44% | 53.49 | 50.73 | 14 |
| 2 | RSA SECURITY LLC TL B | 2.53% | 69.15 | 67.44 | 10 |
| 3 | DELL SOFTWARE GROUP TL B | 1.35% | 76.72 | 75.69 | 8 |
| 4 | PETSMART TL B | 1.09% | 97.71 | 96.66 | 7 |
| 5 | RUSSELL INVESTMENT TL B | 1.05% | 95.96 | 94.96 | 7 |
| 6 | DEX MEDIA EAST TL B | 0.89% | 97.76 | 96.90 | 4 |
| 7 | SINCLAIR BROADCAST GROUP INC. TL B3 | 0.85% | 94.63 | 93.84 | 7 |
| 8 | ASURION TL B8 | 0.83% | 88.95 | 88.21 | 7 |
| 9 | OLDCASTLE TL B | 0.72% | 94.23 | 93.56 | 13 |
| 10 | STAPLES TL B1 | 0.71% | 92.44 | 91.79 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/16/22 – 12/23/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | GOPHER RESOURCE TL | -4.58% | 67.29 | 70.52 | 9 |
| 2 | APEX TOOLS TL B | -2.63% | 85.68 | 88.00 | 11 |
| 3 | ELECTRONICS FOR IMAGING TL | -2.42% | 66.10 | 67.74 | 11 |
| 4 | AIR MEDICAL TL B | -2.39% | 71.93 | 73.69 | 10 |
| 5 | MEDIAOCEAN TL | -2.10% | 91.29 | 93.25 | 5 |
| 6 | WEBER-STEPHEN TL B | -2.00% | 84.24 | 85.96 | 10 |
| 7 | CORRECT CARE TL B | -1.33% | 78.59 | 79.65 | 7 |
| 8 | ARCTIC GLACIER TL B | -1.17% | 87.93 | 88.97 | 8 |
| 9 | DIGICEL TL | -1.11% | 83.87 | 84.81 | 7 |
| 10 | INTERIOR LOGIC TL B | -1.07% | 59.31 | 59.95 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/16/22 – 12/23/22 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 12/16/22 – 12/23/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/16/22 vs. the week ending 12/23/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | MOUNTAINEER MERGER TL | 0 | 36 | 36 | NA |
| 2 | CREATIVE ARTISTS TL B2 | 6 | 34 | 28 | 467% |
| 3 | GTT COMMUNICATIONS EUR TL B | 12 | 28 | 16 | 133% |
| 4 | TRINSEO TL B | 24 | 38 | 14 | 58% |
| 5 | AEGION TL | 2 | 16 | 14 | 700% |
| 6 | SIX FLAGS TL B | 14 | 27 | 13 | 93% |
| 7 | PETSMART TL B | 38 | 50 | 12 | 32% |
| 8 | ACRISURE TL B | 26 | 38 | 12 | 46% |
| 9 | LUMMUS TECHNOLOGY TL B | 44 | 56 | 12 | 27% |
| 10 | USI HOLDINGS TL B | 2 | 14 | 12 | 600% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/16/22 – 12/23/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | SIGMA BIDCO GBP TL B4 | 16 |
| 2 | CONVERGEONE TL B | 16 |
| 3 | PHILIPS APPLIANCES EUR TL B | 16 |
| 4 | KETER GROUP EUR TL B | 15 |
| 5 | ACCOLADE WINES GBP TL B | 15 |
| 6 | WITTUR EUR TL B | 15 |
| 7 | TRANSDIGM INC. TL E | 15 |
| 8 | KLOECKNER EUR TL B | 15 |
| 9 | BMC SOFTWARE TL B | 15 |
| 10 | NOBIAN EUR TL B | 15 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/16/22 – 12/23/22
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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