Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 8/18/23
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 8/18/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Heartland Dental Care Inc. | 350 | Term Loan | 4/29/2028 | S+500 |
| Tenneco Inc. | 1243 | Term Loan | 11/1/2028 | S+510 |
| Epicor Software Corp. | 500 | Term Loan | N/A | S+375 |
| Asgn Incorporated | 500 | Term Loan | 8/2/2030 | S+225 |
forward calendar
Forward calendar during the week ending 8/18/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| Michael Baker International LLC | $110MM TL | UBS,KEY,MACQ | Q3 2023 |
| Sonicwall | $735MM TL | UBS | Q3 2023 |
| Tecta America Corp. | $210MM TL (B2/B) | WF,RBC | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/11/23 – 8/18/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | 0.06% | 101.60 | 101.53 | 12 |
| 2 | 7,270 | MEDLINE TL B | 0.31% | 99.03 | 98.72 | 10 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.00% | 99.97 | 99.97 | 13 |
| 4 | 5,000 | QWEST CORPORATION TL B | -4.09% | 69.03 | 71.98 | 10 |
| 5 | 4,750 | ZAYO TL | 0.20% | 80.08 | 79.92 | 16 |
| 6 | 4,750 | HUB INTL LTD TL B5 | -0.07% | 100.14 | 100.21 | 14 |
| 7 | 4,741 | INTERNET BRANDS TL B | -0.42% | 95.51 | 95.90 | 10 |
| 8 | 4,559 | TRANSDIGM INC. TL I | 0.01% | 100.01 | 100.00 | 20 |
| 9 | 4,475 | UNIVISION TL C5 | -0.06% | 99.50 | 99.56 | 10 |
| 10 | 4,463 | ULTIMATE SOFTWARE TL B | 0.13% | 99.47 | 99.34 | 10 |
| 11 | 4,050 | CITRIX TL B | -0.21% | 95.55 | 95.76 | 10 |
| 12 | 3,900 | DIRECTV TL | -0.09% | 99.19 | 99.27 | 15 |
| 13 | 3,600 | CDK GLOBAL TL | 0.03% | 99.96 | 99.93 | 14 |
| 14 | 3,582 | MISYS TL B | 0.40% | 99.82 | 99.42 | 12 |
| 15 | 3,550 | CITADEL TL B | 0.06% | 99.24 | 99.18 | 10 |
| 16 | 3,515 | LIFEPOINT HOSPITALS TL B | -0.09% | 98.31 | 98.40 | 10 |
| 17 | 3,500 | AMERICAN AIRLINES TL B | 0.08% | 103.52 | 103.44 | 12 |
| 18 | 3,500 | PILOT TRAVEL TL B | 0.10% | 99.92 | 99.82 | 11 |
| 19 | 3,450 | GOLDEN NUGGET INC TL B | 0.00% | 98.47 | 98.47 | 14 |
| 20 | 3,420 | RCN GRANDE TL | -0.65% | 82.47 | 83.01 | 12 |
| AVERAGE | 4,482 | -0.21% | 96.04 | 96.19 | 12.3 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/11/23-8/18/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | EQUINOX HLDGS INC 2ND LIEN TL | 7.73% | 86.13 | 79.95 | 8 |
| 2 | TELESAT TL B5 | 6.82% | 69.06 | 64.65 | 7 |
| 3 | AIR MEDICAL TL B | 5.35% | 68.94 | 65.44 | 10 |
| 4 | RADIOLOGY PARTNERS TL B | 5.18% | 75.39 | 71.67 | 9 |
| 5 | PETVET 2ND LIEN TL | 4.32% | 97.65 | 93.60 | 6 |
| 6 | AT&T COLOCATION TL | 3.47% | 80.43 | 77.73 | 9 |
| 7 | LANDESK TL B | 3.32% | 82.85 | 80.19 | 11 |
| 8 | ANCHOR GLASS TL B | 3.07% | 79.24 | 76.88 | 7 |
| 9 | USS PARENT TL B | 2.90% | 83.50 | 81.15 | 12 |
| 10 | SELECT STAFFING TL B | 2.63% | 83.07 | 80.94 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/11/23-8/18/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | WORLD KITCHEN TL | -4.66% | 20.45 | 21.45 | 8 |
| 2 | QWEST CORPORATION TL B | -4.09% | 69.03 | 71.98 | 9 |
| 3 | PDC BRANDS EXT TL | -2.38% | 94.46 | 96.76 | 4 |
| 4 | PEDIATRIC ASSOCIATES TL B | -1.51% | 97.41 | 98.91 | 7 |
| 5 | ANVIL INTERNATIONAL TL B | -1.34% | 95.67 | 96.97 | 6 |
| 6 | LEVEL III TL B | -1.26% | 93.72 | 94.92 | 12 |
| 7 | SINCLAIR BROADCAST GROUP INC. TL B3 | -1.22% | 76.94 | 77.89 | 6 |
| 8 | PODS TL B | -1.20% | 97.52 | 98.71 | 8 |
| 9 | IHEART TL B | -0.95% | 88.48 | 89.34 | 9 |
| 10 | CISION TL B | -0.93% | 73.31 | 74.00 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/11/23-8/18/23
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 8/11/23-8/18/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/11/23 vs. the week ending 8/18/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SELECT MEDICAL TL | 20 | 44 | 24 | 120% |
| 2 | CROCS TL B | 30 | 52 | 22 | 73% |
| 3 | BARNES GROUP INC TL B | 8 | 30 | 22 | 275% |
| 4 | RENAISSANCE LEARNING TL B | 60 | 82 | 22 | 37% |
| 5 | ADVANCED METALLURGICAL GROUP TL B | 4 | 26 | 22 | 550% |
| 6 | NORTHRIVER MIDSTREAM TL B | 4 | 24 | 20 | 500% |
| 7 | LIFESCAN 2ND LIEN TL | 6 | 24 | 18 | 300% |
| 8 | APPLIED SYSTEMS EXT TL | 32 | 48 | 16 | 50% |
| 9 | DISCOVERORG TL B | 12 | 28 | 16 | 133% |
| 10 | VACO TL B | 22 | 38 | 16 | 73% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/11/23-8/18/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | HILEX POLY TL B | 18 |
| 3 | ZIGGO EUR TL H | 17 |
| 4 | ACCOLADE WINES GBP TL B | 17 |
| 5 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 6 | DIRECTV TL | 16 |
| 7 | ZAYO TL | 16 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 9 | TELENET EUR TL | 16 |
| 10 | NTL CABLE PLC EUR TL R | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/11/23-8/18/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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