Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 9/15/23
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 9/15/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Restaurant Brands Intl. Inc. | 5163 | Term Loan | 9/1/2030 | S+225 |
| Sally Holdings LLC | 399 | Term Loan | 2/28/2030 | S+225 |
| Tecomet Inc. | N/A | Term Loan | 12/23/2026 | N/A |
forward calendar
Forward calendar during the week ending 9/15/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| Aercap (Delos Aircraft Designated Activity Co.) | $600MM TLB (BBB) | JPM,RBC,DB,MS | Q3 2023 |
| Alight Inc. (Tempo Acquisition LLC) | $2.5B TLB | BofA | Q3 2023 |
| Aramark Uniform Services | $1.8B credit facilities: $300MM RC; $1.5B TL | N/A | Q3 2023 |
| CHG Healthcare | $580MM TL (B2/B) | GS,JPM,BCLY,BMO,CITI | Q3 2023 |
| EnergySolutions LLC | $640MM TLB (B2/B) | N/A | Q3 2023 |
| Simon & Schuster | $1.1B credit facilities | JEFF,KKR,UBS,HSBC,RBC | Q3 2023 |
| Spring Education Group | $950MM credit facilities: $100MM RC; $850MM TLB | MACQ,GS | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/8/23 – 9/15/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 7,270 | MEDLINE TL B | 0.07% | 100.01 | 99.94 | 12 |
| 2 | 5,900 | ATHENAHEALTH TL | 0.08% | 98.77 | 98.69 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | 5.93% | 69.40 | 65.52 | 13 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.03% | 100.22 | 100.19 | 12 |
| 5 | 4,750 | ZAYO TL | 1.14% | 80.62 | 79.71 | 15 |
| 6 | 4,415 | ICON PLC TL B | 0.09% | 100.21 | 100.11 | 10 |
| 7 | 3,900 | DIRECTV TL | -0.10% | 98.70 | 98.80 | 15 |
| 8 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.39% | 99.64 | 99.25 | 11 |
| 9 | 3,500 | PILOT TRAVEL TL B | 0.01% | 99.97 | 99.96 | 11 |
| 10 | 3,500 | AMERICAN AIRLINES TL B | -0.06% | 103.81 | 103.88 | 12 |
| 11 | 3,450 | GOLDEN NUGGET INC TL B | 0.62% | 99.81 | 99.20 | 15 |
| 12 | 3,420 | RCN GRANDE TL | 1.03% | 82.49 | 81.65 | 13 |
| 13 | 3,380 | SOLERA TL B | 0.18% | 97.45 | 97.28 | 12 |
| 14 | 3,300 | NTL CABLE PLC TL N | 1.78% | 98.96 | 97.24 | 11 |
| 15 | 3,190 | INTELSAT EXIT TL B | -0.03% | 99.94 | 99.98 | 12 |
| 16 | 3,100 | TRANSUNION TL B6 | 0.03% | 100.16 | 100.13 | 14 |
| 17 | 3,100 | HUNTER DOUGLAS TL B | 0.76% | 97.88 | 97.14 | 10 |
| 18 | 3,100 | ASURION TL B8 | 0.77% | 98.40 | 97.65 | 11 |
| 19 | 3,000 | DELTA SKYMILES TL B | -0.14% | 103.80 | 103.95 | 13 |
| 20 | 3,000 | WESTINGHOUSE TL B | 0.03% | 99.96 | 99.93 | 14 |
| AVERAGE | 3,939 | 0.63% | 96.51 | 96.01 | 12.3 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/8/23-9/15/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | TRINSEO TL B2 | 9.20% | 84.66 | 77.52 | 12 |
| 2 | GRANITE ACQUISITION TL B | 7.08% | 92.06 | 85.98 | 11 |
| 3 | TRILLIANT FOOD TL B | 6.56% | 84.18 | 79.00 | 4 |
| 4 | GREENWAY MEDICAL TL | 6.30% | 89.87 | 84.54 | 7 |
| 5 | SELECT STAFFING TL B | 6.15% | 89.86 | 84.66 | 11 |
| 6 | QWEST CORPORATION TL B | 5.93% | 69.40 | 65.52 | 13 |
| 7 | RIVERBED PIK TL | 4.47% | 62.56 | 59.89 | 4 |
| 8 | SECURUS TL | 4.10% | 91.06 | 87.48 | 6 |
| 9 | WHOLE EARTH BRANDS TL | 3.93% | 89.38 | 86.00 | 4 |
| 10 | MONEYGRAM TL B | 3.28% | 95.26 | 92.24 | 4 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/8/23-9/15/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | THILEA TL B | -22.60% | 38.64 | 49.93 | 7 |
| 2 | HALO BUYER TL | -14.10% | 76.88 | 89.50 | 6 |
| 3 | JO-ANN STORES TL B | -5.97% | 32.04 | 34.07 | 6 |
| 4 | COMPREHENSIVE EYECARE PARTNERS TL | -2.34% | 74.93 | 76.72 | 11 |
| 5 | BABILOU EUR TL B | -1.68% | 96.94 | 98.60 | 9 |
| 6 | CIBT HOLDINGS TL A | -1.62% | 68.61 | 69.74 | 3 |
| 7 | HUBBARD RADIO TL B | -1.48% | 94.17 | 95.58 | 5 |
| 8 | INNOVATIVE XCESSORIES TL | -0.93% | 84.50 | 85.30 | 8 |
| 9 | PRESS GANEY TL | -0.63% | 97.34 | 97.95 | 6 |
| 10 | NTHRIVE TL B | -0.58% | 83.40 | 83.88 | 3 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/8/23-9/15/23
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 9/8/23-9/15/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/8/23 vs. the week ending 9/15/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | AVIENT CORP TL B7 | 23 | 74 | 51 | 222% |
| 2 | ENSEMBLE HEALTH TL | 15 | 63 | 48 | 320% |
| 3 | BERRY PLASTICS TL Z | 90 | 136 | 46 | 51% |
| 4 | CHARTER NEX TL | 27 | 68 | 41 | 152% |
| 5 | GO DADDY TL B5 | 19 | 58 | 39 | 205% |
| 6 | TRANSUNION TL B6 | 96 | 134 | 38 | 40% |
| 7 | GRAHAM PACKAGING TL B | 64 | 102 | 38 | 59% |
| 8 | ICON PLC TL B | 28 | 63 | 35 | 125% |
| 9 | GENESEE & WYOMING TL | 69 | 104 | 35 | 51% |
| 10 | HILEX POLY TL B | 112 | 146 | 34 | 30% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/8/23-9/15/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 18 |
| 2 | ZIGGO EUR TL H | 18 |
| 3 | TELENET EUR TL | 18 |
| 4 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 5 | BMC SOFTWARE TL B | 17 |
| 6 | UPC HOLDING BV EUR TL | 17 |
| 7 | HILEX POLY TL B | 17 |
| 8 | ACTION NEDERLAND EUR TL B3 | 16 |
| 9 | NTL CABLE PLC GBP TL M | 16 |
| 10 | CEVA SANTE ANIMALE EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/8/23-9/15/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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