Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 1/13/23

Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.

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New Issues
Forward Calendar
Largest Loans
Top 10 Performers
Bottom 10 Performers
Average Bid Price
Market Sentiment
Top Movers
Most Quoted Loans
Bid & Offer Volume
Bid Offer Spread

New Issues

Loans issued during the week ending 1/13/23

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
WHP Global 175 Term Loan 2/15/2027 S+550

forward calendar

Forward calendar during the week ending 1/13/23

Issuer Deal Information Banks Expected Issue Date
Atlas Air Worldwide $1.9B credit facilities: $300MM RC; $1.6B TL GS, BCLY, AP, MIZ, CAG 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 1/6/23 – 1/13/23

RANK SIZE (MM) NAME CHANGE PX PX-1W DEALERS
1 4,750 ZAYO TL 1.53% 83.49 82.23 13
2 4,700 CAESARS RESORT COLLECTION TL B 0.04% 99.95 99.90 13
3 3,582 MISYS TL B 3.44% 91.53 88.48 13
4 3,524 TRANSDIGM INC. TL F 0.34% 99.58 99.24 14
5 3,515 LIFEPOINT HOSPITALS TL B 2.10% 96.93 94.94 10
6 3,325 CINEWORLD TL B -1.62% 17.98 18.28 11
7 3,312 HUB INTL LTD TL B 0.45% 99.60 99.16 12
8 3,300 NTL CABLE PLC TL N 0.34% 99.25 98.91 10
9 3,000 DELTA SKYMILES TL B 0.52% 102.79 102.25 12
10 2,825 BRAND ENERGY TL 0.71% 91.47 90.82 17
11 2,750 TEAM HEALTH TL 2.53% 89.91 87.69 13
12 2,670 FRONERI TL B 1.17% 98.89 97.74 14
13 2,550 GENESEE & WYOMING TL 0.10% 99.82 99.72 11
14 2,525 ZIGGO TL I 0.68% 98.86 98.19 10
15 2,500 QUIKRETE TL B 0.16% 99.26 99.10 10
16 2,285 ACTION NEDERLAND EUR TL B 0.68% 98.33 97.66 15
17 2,250 ZIGGO EUR TL H 1.66% 93.79 92.26 15
18 2,225 MESSER INDUSTRIES TL B 0.21% 99.75 99.54 12
19 2,210 TRANSDIGM INC. TL E 0.16% 99.58 99.42 16
20 2,180 FRONERI EUR TL B 1.39% 94.19 92.90 13
AVERAGE 2,999 0.83% 92.75 91.92 12.7

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 1/6/23-1/13/23

RANK NAME CHANGE PX PX-1W DEALERS
1 DELL SOFTWARE GROUP TL B 6.51% 84.17 79.02 10
2 AMNEAL PHARMACEUTIAL TL B 4.98% 93.82 89.37 8
3 RSA SECURITY LLC TL B 4.94% 73.15 69.71 11
4 SERTA SIMMONS SO TL 4.94% 49.66 47.32 10
5 ANASTASIA BEVERLY HILLS TL B 4.73% 77.59 74.08 10
6 IHEART TL B 4.65% 96.49 92.20 5
7 VERIZON TL B2 4.53% 94.80 90.69 6
8 AMC ENTERTAINMENT TL B1 4.48% 60.26 57.68 15
9 RSA SECURITY LLC 2ND LIEN TL 4.18% 49.42 47.44 9
10 STHI TL 4.14% 96.56 92.72 5

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/6/23-1/13/23

RANK NAME CHANGE PX PX-1W DEALERS
1 LOGMEIN TL B -11.12% 55.67 62.64 12
2 JO-ANN STORES TL B -7.54% 63.89 69.10 8
3 ACCELERATED HEALTH SYSTEMS LLC TL B -5.72% 74.94 79.48 6
4 RCN GRANDE TL B -3.08% 82.77 85.40 6
5 IMPERVA 2ND LIEN TL -2.45% 74.35 76.21 7
6 CSC SERVICEWORKS INC TL -2.00% 79.39 81.01 9
7 XPLORNET TL -1.73% 73.62 74.92 7
8 RCN GRANDE TL -1.07% 83.04 83.94 10
9 RESEARCH NOW TL -0.71% 72.67 73.19 10
10 PAYSAFE TL -0.33% 95.99 96.31 7

Avg Bid PX by Sector

Displays the average loan bid price by sector between 1/6/23-1/13/23

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 1/6/23-1/13/23

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 1/6/23 vs. the week ending 1/13/23

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ULTIMATE SOFTWARE TL 64 89 25 39%
2 ENTEGRIS TL B 52 77 25 48%
3 AT HOME STORES TL B 57 81 24 42%
4 SURF HOLDINGS TL B 35 59 24 69%
5 US LBM TL B 72 96 24 33%
6 GRANITE ENERGY TL B 49 72 23 47%
7 LOYALTY VENTURES TL 36 59 23 64%
8 WENDY’S INTERNATIONAL, LLC TL B 36 58 22 61%
9 FRONERI TL B 81 103 22 27%
10 AUDIO VISUAL TL B2 34 56 22 65%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 1/6/23-1/13/23

RANK TRANCHE DEALERS
1 BRAND ENERGY TL 17
2 CONVERGEONE TL B 16
3 TRANSDIGM INC. TL E 16
4 AMERICAN BATH TL 16
5 WHEEL PROS TL 16
6 PHILIPS APPLIANCES EUR TL B 16
7 CHEPLAPHARM ARZNEIMITTEL EUR TL B 15
8 KETER GROUP EUR TL B 15
9 NTL CABLE PLC GBP TL M 15
10 ACTION NEDERLAND EUR TL B 15

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 1/6/23-1/13/23

Sector Bid-Offer Spread

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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