Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 9/8/23
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 9/8/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| International Textile Group | 100 | Term Loan | 9/30/2027 | S+850 |
| Accuride Corp. | 282 | Term Loan | 5/18/2026 | S+750 |
forward calendar
Forward calendar during the week ending 9/8/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| Waterbridge Midstream Operating LLC | $150MM TLB | Q3 2023 | |
| Aramark Uniform Services | $1.8B credit facilities: $300MM RC; $1.5B TL | Q3 2023 | |
| CHG Healthcare | $580MM TL (B2/B) | GS,JPM,BCLY,BMO,CITI | Q3 2023 |
| Forward Air Corp. | $400MM revolver | MS,CITI,GS,JPM | Q3 2023 |
| Simon & Schuster | $1.1B credit facilities | JEFF,KKR,UBS,HSBC,RBC | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/1/23 – 9/8/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | 0.11% | 101.59 | 101.48 | 10 |
| 2 | 7,270 | MEDLINE TL B | 0.04% | 99.94 | 99.89 | 11 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.07% | 100.19 | 100.12 | 13 |
| 4 | 5,000 | QWEST CORPORATION TL B | 0.22% | 65.52 | 65.38 | 13 |
| 5 | 4,750 | ZAYO TL | -0.25% | 79.71 | 79.91 | 15 |
| 6 | 4,750 | HUB INTL LTD TL B5 | 0.14% | 100.52 | 100.38 | 15 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.21% | 96.22 | 96.02 | 12 |
| 8 | 4,741 | INTERNET BRANDS TL B | 0.21% | 96.22 | 96.02 | 12 |
| 9 | 4,559 | TRANSDIGM INC. TL I | 0.09% | 100.14 | 100.05 | 21 |
| 10 | 4,463 | ULTIMATE SOFTWARE TL B | 0.03% | 99.87 | 99.84 | 12 |
| 11 | 4,260 | NUMERICABLE TL B | 1.76% | 88.97 | 87.43 | 11 |
| 12 | 4,260 | NUMERICABLE TL B | 1.76% | 88.97 | 87.43 | 11 |
| 13 | 4,050 | CITRIX TL B | -0.25% | 95.98 | 96.23 | 10 |
| 14 | 3,900 | DIRECTV TL | 0.02% | 98.80 | 98.78 | 15 |
| 15 | 3,600 | CDK GLOBAL TL | 0.06% | 100.15 | 100.09 | 12 |
| 16 | 3,600 | CDK GLOBAL TL | 0.06% | 100.15 | 100.09 | 12 |
| 17 | 3,582 | MISYS TL B | -0.01% | 99.88 | 99.88 | 11 |
| 18 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.14% | 99.25 | 99.11 | 10 |
| 19 | 3,500 | AMERICAN AIRLINES TL B | 0.07% | 103.88 | 103.81 | 12 |
| 20 | 3,500 | PILOT TRAVEL TL B | 0.11% | 99.96 | 99.86 | 11 |
| AVERAGE | 4,581 | 0.23% | 95.80 | 95.59 | 12.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/1/23-9/8/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | EAGLEPICHER TL | 19.97% | 96.71 | 80.61 | 8 |
| 2 | BAY CLUB 2ND LIEN TL | 4.09% | 85.29 | 81.94 | 5 |
| 3 | WP CPP 2ND LIEN TL | 3.42% | 84.63 | 81.83 | 8 |
| 4 | CARESTREAM HEALTH TL B | 3.33% | 77.29 | 74.80 | 6 |
| 5 | CORRECT CARE TL B | 2.81% | 78.21 | 76.07 | 9 |
| 6 | NEP TL B | 2.66% | 95.80 | 93.31 | 10 |
| 7 | THE NIELSEN COMPANY B.V. TL B | 2.61% | 95.14 | 92.72 | 8 |
| 8 | MAVENIR TL B | 2.61% | 77.41 | 75.44 | 5 |
| 9 | CUMULUS MEDIA TL | 2.57% | 81.02 | 78.99 | 11 |
| 10 | ACCENTCARE INC TL B | 2.54% | 86.93 | 84.77 | 5 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/1/23-9/8/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | SOUND PHYSICIANS TL | -10.59% | 48.18 | 53.89 | 7 |
| 2 | HERITAGE POWER TL B | -5.68% | 20.53 | 21.77 | 7 |
| 3 | SINCLAIR BROADCAST GROUP INC. TL B3 | -5.14% | 71.00 | 74.84 | 6 |
| 4 | COMPREHENSIVE EYECARE PARTNERS TL | -3.43% | 74.11 | 76.75 | 10 |
| 5 | RADIOLOGY PARTNERS TL B | -2.51% | 74.81 | 76.73 | 11 |
| 6 | INNOVATIVE XCESSORIES TL | -1.91% | 85.30 | 86.95 | 8 |
| 7 | PACKERS HOLDINGS TL | -1.34% | 64.73 | 65.61 | 13 |
| 8 | GRAY TELEVISION TL D | -1.25% | 97.48 | 98.72 | 10 |
| 9 | ANASTASIA BEVERLY HILLS TL B | -1.24% | 73.06 | 73.98 | 9 |
| 10 | TENNECO TL B | -1.13% | 84.03 | 84.99 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/1/23-9/8/23
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 9/1/23-9/8/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/1/23 vs. the week ending 9/8/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | NESTLE SKIN HEALTH EUR TL B | 16 | 52 | 36 | 225% |
| 2 | OBERTHUR TECHNOLOGIES SA EUR TL B | 6 | 42 | 36 | 600% |
| 3 | ESMALGLASS EUR TL B | 0 | 34 | 34 | NA |
| 4 | ROCKET SOFTWARE EUR TL | 6 | 40 | 34 | 567% |
| 5 | TECHEM EUR TL B4 | 12 | 45 | 33 | 275% |
| 6 | ZAYO EUR TL | 20 | 52 | 32 | 160% |
| 7 | APEX GROUP EUR TL B | 0 | 32 | 32 | NA |
| 8 | BUSY BEES EUR TL B | 6 | 37 | 31 | 517% |
| 9 | ION TRADING EUR TL B | 14 | 45 | 31 | 221% |
| 10 | UNIVERSAL SERVICES EUR TL B | 8 | 39 | 31 | 388% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/1/23-9/8/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | ZIGGO EUR TL H | 18 |
| 3 | TELENET EUR TL | 18 |
| 4 | HILEX POLY TL B | 17 |
| 5 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 6 | UPC HOLDING BV EUR TL | 17 |
| 7 | NTL CABLE PLC GBP TL M | 16 |
| 8 | NORD ANGLIA EDUCATION FINANC EUR TL B | 16 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 10 | EIRCOM FINCO SARL EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/1/23-9/8/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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