Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 12/30/22
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 12/30/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Dupage Medical Group | 238 | Term Loan | 10/13/23 | L+200 |
| Pro Mach Group Inc. | 100 | Term Loan | 8/31/28 | S+500 |
| Walker & Dunlop Inc. | 200 | Term Loan | 10/31/25 | S+300 |
forward calendar
Forward calendar during the week ending 12/30/22
| Issuer | Deal Information | Banks | Expected Issue Date |
| Consumer Direct Care Network Inc. | $150MM credit facilities: $75MM TL; $75MM RC | N/A | Q1 2023 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF, BMO, CTZ, TRS | Q1 2023 |
| Moneygram International Inc. | $850MM credit facilities: $150MM RC; $700MM TL | GS, DB, BCLY, WF | Q1 2023 |
| Tegna Inc. | $4B credit facilities: $500MM RC; $3.5B TL | RBC, BofA, GS, TRS, BNP, CS, JEFF, MIZ, TD, BCLY, DB, MUFG, CTB, SMBC | Q1 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/23/22 – 12/30/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 7,270 | MEDLINE TL B | -0.03% | 94.76 | 94.79 | 11 |
| 2 | 5,000 | UNITED CONTINENTAL TL B | -0.09% | 98.44 | 98.53 | 14 |
| 3 | 4,750 | ZAYO TL | 0.10% | 80.51 | 80.43 | 12 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | -0.07% | 99.65 | 99.72 | 14 |
| 5 | 3,900 | DIRECTV TL | 0.02% | 97.02 | 97.00 | 12 |
| 6 | 3,600 | CDK GLOBAL TL | -0.02% | 98.94 | 98.96 | 12 |
| 7 | 3,582 | MISYS TL B | -0.27% | 88.35 | 88.59 | 11 |
| 8 | 3,524 | TRANSDIGM INC. TL F | -0.07% | 98.65 | 98.72 | 13 |
| 9 | 3,500 | AMERICAN AIRLINES TL B | -0.08% | 99.41 | 99.48 | 10 |
| 10 | 3,400 | REFRESCO HOLDING EUR TL B | -0.07% | 96.09 | 96.16 | 14 |
| 11 | 3,380 | SOLERA TL B | -0.35% | 91.33 | 91.66 | 13 |
| 12 | 3,325 | CINEWORLD TL B | 2.60% | 17.82 | 17.37 | 13 |
| 13 | 3,312 | HUB INTL LTD TL B | -0.01% | 98.79 | 98.80 | 12 |
| 14 | 3,300 | NTL CABLE PLC TL N | -0.11% | 98.11 | 98.22 | 11 |
| 15 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | -14.37% | 12.15 | 14.18 | 10 |
| 16 | 3,100 | TRANSUNION TL B6 | 0.03% | 98.90 | 98.87 | 10 |
| 17 | 3,000 | DELTA SKYMILES TL B | -0.03% | 101.83 | 101.86 | 11 |
| 18 | 2,985 | HARBOR FREIGHT TL B | -0.03% | 95.23 | 95.26 | 11 |
| 19 | 2,884 | BMC SOFTWARE TL B | 0.27% | 95.86 | 95.61 | 15 |
| 20 | 2,853 | TK ELEVATOR TL B | 0.16% | 96.10 | 95.94 | 11 |
| AVERAGE | 3,729 | -0.62% | 87.90 | 88.01 | 12.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/23/22 – 12/30/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | MAGENTA BUYER LLC TL B | 4.96% | 91.21 | 86.90 | 5 |
| 2 | KEANE GROUP HOLDINGS TL B | 1.45% | 97.42 | 96.03 | 4 |
| 3 | CASA SYSTEMS TL | 1.36% | 87.69 | 86.51 | 5 |
| 4 | ONE CALL TL B | 1.28% | 82.95 | 81.90 | 6 |
| 5 | TCW TL B | 0.69% | 98.44 | 97.76 | 3 |
| 6 | TROPICANA TL | 0.65% | 89.32 | 88.74 | 11 |
| 7 | AMC ENTERTAINMENT TL B1 | 0.65% | 53.84 | 53.49 | 13 |
| 8 | APEX GROUP TL B | 0.50% | 94.72 | 94.25 | 4 |
| 9 | ROCKET SOFTWARE TL | 0.49% | 96.50 | 96.02 | 6 |
| 10 | HAYWARD INDUSTRIES TL B | 0.48% | 95.52 | 95.06 | 4 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/23/22 – 12/30/22
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | ACCENTCARE INC TL B | -5.35% | 67.00 | 70.79 | 3 |
| 2 | COLORADO BUYER TL | -4.18% | 84.14 | 87.80 | 7 |
| 3 | COOK & BOARDMAN TL | -3.25% | 83.00 | 85.79 | 5 |
| 4 | HALO BUYER TL | -3.12% | 87.00 | 89.80 | 8 |
| 5 | ENVISION HEALTHCARE 2ND LIEN TL | -2.99% | 79.90 | 82.37 | 5 |
| 6 | CITY BREWING TL B | -2.89% | 42.86 | 44.13 | 7 |
| 7 | BLOUNT TL B | -1.24% | 78.86 | 79.85 | 10 |
| 8 | NTHRIVE TL B | -1.24% | 83.58 | 84.63 | 3 |
| 9 | ROBERTSHAW TL | -1.11% | 67.06 | 67.81 | 6 |
| 10 | LOGMEIN TL B | -1.08% | 63.85 | 64.54 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/23/22 – 12/30/22
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 12/23/22 – 12/30/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/23/22 vs. the week ending 12/30/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ADVANCED DRAINAGE SYSTEMS TL B | 11 | 29 | 18 | 164% |
| 2 | LIFE TIME TL B | 6 | 22 | 16 | 267% |
| 3 | PITNEY BOWES TL B | 0 | 16 | 16 | NA |
| 4 | LOGOPLASTE TL B | 0 | 16 | 16 | NA |
| 5 | INSTALLED BUILDING PRODUCTS TL B | 16 | 32 | 16 | 100% |
| 6 | SAMSONITE TL B | 14 | 28 | 14 | 100% |
| 7 | BINGO INDUSTRIES TL | 10 | 24 | 14 | 140% |
| 8 | MULTI-COLOR TL B | 26 | 40 | 14 | 54% |
| 9 | CELESTICA TL B | 10 | 24 | 14 | 140% |
| 10 | MANNINGTON TL B | 10 | 24 | 14 | 140% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/23/22 – 12/30/22
| RANK | TRANCHE | DEALERS |
| 1 | CONVERGEONE TL B | 16 |
| 2 | PHILIPS APPLIANCES EUR TL B | 16 |
| 3 | KETER GROUP EUR TL B | 15 |
| 4 | SIGMA BIDCO GBP TL B4 | 15 |
| 5 | ACCOLADE WINES GBP TL B | 15 |
| 6 | KLOECKNER EUR TL B | 15 |
| 7 | BMC SOFTWARE TL B | 15 |
| 8 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 14 |
| 9 | CERBA HEALTHCARE EUR TL C | 14 |
| 10 | BRAND ENERGY TL | 14 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/23/22 – 12/30/22
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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