Syndicated Bank Loan Market Summary – Week Ending 6/23/23
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Syndicated Bank Loan Market Summary: Week Ending 6/16/23
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 6/23/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| HotelBeds | 760 | Term Loan | 9/30/2028 | E+500 |
forward calendar
Forward calendar during the week ending 6/23/23
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Cyanco Intermediate 2 Corp | 420MM TLB(B2/B) | RBC,MS,DB | Q2 2023 |
| Dave & Buster’s Inc. | 844MM TLB | DB | Q2 2023 |
| EG Group | 2.791B TLB | BCLY | Q2 2023 |
| Helix Gen Funding LLC | 700MM TL | BCLY,GS,RBC,BMO,MUFG | Q2 2023 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF, BMO, CTZ, TRS | Q2 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/16/23 – 6/23/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.04% | 101.47 | 101.43 | 12 |
| 2 | 5,160 | INTEL TL | -0.02% | 95.21 | 95.22 | 11 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | -0.06% | 99.74 | 99.80 | 13 |
| 4 | 4,750 | HUB INTL LTD TL B5 | -0.02% | 99.89 | 99.91 | 12 |
| 5 | 4,750 | ZAYO TL | -0.85% | 79.24 | 79.92 | 15 |
| 6 | 4,559 | TRANSDIGM INC. TL I | -0.01% | 99.86 | 99.87 | 16 |
| 7 | 3,900 | DIRECTV TL | 0.18% | 96.98 | 96.81 | 16 |
| 8 | 3,600 | CDK GLOBAL TL | -0.07% | 99.42 | 99.49 | 12 |
| 9 | 3,582 | MISYS TL B | -0.27% | 96.67 | 96.93 | 13 |
| 10 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.49% | 90.93 | 90.49 | 10 |
| 11 | 3,500 | AMERICAN AIRLINES TL B | 0.26% | 101.61 | 101.35 | 12 |
| 12 | 3,500 | PILOT TRAVEL TL B | 0.04% | 99.74 | 99.71 | 11 |
| 13 | 3,500 | SEDGWICK TL B | -0.09% | 98.76 | 98.85 | 10 |
| 14 | 3,450 | GOLDEN NUGGET INC TL B | -0.28% | 98.24 | 98.52 | 12 |
| 15 | 3,420 | RCN GRANDE TL | -0.75% | 83.09 | 83.72 | 10 |
| 16 | 3,380 | SOLERA TL B | 0.79% | 90.80 | 90.09 | 12 |
| 17 | 3,300 | NTL CABLE PLC TL N | -0.02% | 98.56 | 98.58 | 12 |
| 18 | 3,190 | INTELSAT EXIT TL B | -0.11% | 99.15 | 99.26 | 13 |
| 19 | 3,100 | HUNTER DOUGLAS TL B | -0.16% | 92.56 | 92.71 | 11 |
| 20 | 3,100 | ASURION TL B8 | -0.21% | 94.90 | 95.10 | 10 |
| AVERAGE | 4,041 | -0.06% | 95.84 | 95.89 | 12.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/16/23-6/23/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RACKSPACE HOSTING TL B | 4.95% | 45.02 | 42.90 | 13 |
| 2 | THE HUT GROUP EUR TL B | 3.56% | 87.02 | 84.03 | 9 |
| 3 | VERIFONE TL B | 3.44% | 91.79 | 88.74 | 7 |
| 4 | PURESTAR TL | 3.38% | 90.99 | 88.02 | 5 |
| 5 | CSC SERVICEWORKS INC TL | 3.17% | 83.79 | 81.22 | 9 |
| 6 | SGB-SMIT EUR TL B | 2.88% | 88.14 | 85.67 | 5 |
| 7 | PACKERS HOLDINGS TL | 2.23% | 66.72 | 65.26 | 15 |
| 8 | CBS RADIO INC TL B | 1.80% | 49.66 | 48.78 | 9 |
| 9 | GOPHER RESOURCE TL | 1.58% | 80.33 | 79.08 | 10 |
| 10 | ACRISURE TL B | 1.52% | 96.33 | 94.88 | 7 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/16/23-6/23/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | STRATEGIC PARTNERS TL B | -9.47% | 52.97 | 58.51 | 8 |
| 2 | AIR MEDICAL TL B | -4.37% | 56.54 | 59.12 | 12 |
| 3 | MAVENIR TL B | -3.90% | 71.72 | 74.63 | 4 |
| 4 | VENATOR TL B | -3.53% | 55.22 | 57.24 | 8 |
| 5 | ICP GROUP TL | -2.32% | 77.17 | 79.00 | 7 |
| 6 | XELLA INTERNATIONAL GMBH EUR TL B | -2.05% | 87.09 | 88.92 | 11 |
| 7 | MALLINCKRODT EXIT TL | -2.03% | 75.07 | 76.63 | 8 |
| 8 | INTEL TL | -2.03% | 75.47 | 77.03 | 6 |
| 9 | STAPLES TL B1 | -1.93% | 84.92 | 86.60 | 14 |
| 10 | DELL SOFTWARE GROUP TL B | -1.65% | 81.03 | 82.38 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/16/23-6/23/23 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 6/16/23-6/23/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/16/23 vs. the week ending 6/23/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SPECTRUM PLASTICS 2ND LIEN TL | 0 | 20 | 20 | NA |
| 2 | GET ACQUISITION TL | 0 | 19 | 19 | NA |
| 3 | IMS HEALTH EUR TL B1 | 22 | 38 | 16 | 73% |
| 4 | KANTAR EUR TL B | 20 | 36 | 16 | 80% |
| 5 | HOTELBEDS EUR TL D | 3 | 18 | 15 | 500% |
| 6 | BELLIS ACQUISITION CO PLC EUR TL B | 14 | 28 | 14 | 100% |
| 7 | BCPE MAX DUTCH BIDCO EUR TL B | 18 | 32 | 14 | 78% |
| 8 | ORGANON EUR TL B | 18 | 32 | 14 | 78% |
| 9 | GRIFOLS WORLDWIDE EUR TL B | 26 | 40 | 14 | 54% |
| 10 | QUALTEK TL | 0 | 14 | 14 | NA |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/16/23-6/23/23
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HEARTHSIDE FOODS TL B | 17 |
| 2 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 16 |
| 3 | TRANSDIGM INC. TL I | 16 |
| 4 | SIGMA BIDCO GBP TL B4 | 16 |
| 5 | HUB INTL LTD TL B3 | 16 |
| 6 | ZIGGO EUR TL H | 16 |
| 7 | BERRY PLASTICS TL Z | 16 |
| 8 | WHEEL PROS TL | 16 |
| 9 | BMC SOFTWARE TL B | 16 |
| 10 | DIRECTV TL | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/16/23-6/23/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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