Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 11/24/23
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
forward calendar
Forward calendar during the week ending 11/24/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| A-Gas Finco Inc. | $520MM TLB (B2/B) | CITI,HSBC,TRS | Q4 2022 |
| American Airlines Inc. | $750MM TLB (Ba2/BB/BB-) | CITI,BofA,MS | Q4 2022 |
| Perrigo | $300MM TLB | JPM | Q4 2022 |
| Veritiv Corp. | $1.525B credit facilities: $700MM TLB (B2/B+), $825MM RC | RBC,GS,WF,BMO,UBS,BNP | Q4 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/17/23 – 11/24/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 7,270 | MEDLINE TL B | -0.08% | 99.95 | 100.03 | 14 |
| 2 | 5,160 | MCAFEE CORP TL | 0.05% | 98.52 | 98.47 | 10 |
| 3 | 5,000 | QWEST CORPORATION TL B | -1.56% | 66.41 | 67.47 | 10 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.01% | 99.95 | 99.93 | 15 |
| 5 | 4,750 | HUB INTL LTD TL B5 | 0.05% | 100.32 | 100.28 | 16 |
| 6 | 4,750 | ZAYO TL | 0.19% | 85.54 | 85.38 | 14 |
| 7 | 4,741 | INTERNET BRANDS TL B | -0.16% | 96.60 | 96.76 | 13 |
| 8 | 4,559 | TRANSDIGM INC. TL I | -0.02% | 100.00 | 100.02 | 21 |
| 9 | 4,463 | ULTIMATE SOFTWARE TL B | 0.02% | 99.93 | 99.91 | 12 |
| 10 | 4,260 | NUMERICABLE TL B | -0.45% | 85.39 | 85.78 | 11 |
| 11 | 4,050 | CITRIX TL B | -0.36% | 95.45 | 95.80 | 12 |
| 12 | 3,900 | DIRECTV TL | -0.14% | 98.53 | 98.67 | 16 |
| 13 | 3,580 | CDK GLOBAL TL B | 0.01% | 100.02 | 100.01 | 13 |
| 14 | 3,550 | CITADEL TL B | -0.11% | 99.84 | 99.95 | 12 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.22% | 101.41 | 101.63 | 12 |
| 16 | 3,500 | PILOT TRAVEL TL B | -0.02% | 100.00 | 100.02 | 12 |
| 17 | 3,500 | SEDGWICK TL B | -0.05% | 100.03 | 100.08 | 10 |
| 18 | 3,450 | GOLDEN NUGGET INC TL B | -0.07% | 99.05 | 99.12 | 13 |
| 19 | 3,420 | RCN GRANDE TL | -0.70% | 79.50 | 80.06 | 12 |
| 20 | 3,380 | SOLERA TL B | 0.19% | 96.22 | 96.03 | 13 |
| AVERAGE | 4,289 | -0.17% | 95.13 | 95.27 | 13.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/17/23-11/24/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | EPIC Y-GRADE SERVICES EXT TL B | 2.16% | 96.18 | 94.15 | 7 |
| 2 | ALTICE FINANCING TL B | 2.12% | 95.80 | 93.81 | 7 |
| 3 | STARK GROUP EUR TL B | 1.85% | 92.55 | 90.86 | 6 |
| 4 | OGF(POMPES FUNEBRES GENERALE) EUR TL B | 1.63% | 90.29 | 88.84 | 14 |
| 5 | PHILIPS APPLIANCES EUR TL B | 1.46% | 93.56 | 92.21 | 14 |
| 6 | CORELOGIC TL B | 1.41% | 93.73 | 92.43 | 7 |
| 7 | HERENS HOLDCO SARL EUR TL B | 1.26% | 88.35 | 87.25 | 13 |
| 8 | CORIALIS EUR TL B | 1.19% | 95.57 | 94.44 | 12 |
| 9 | AUDIO VISUAL TL B1 | 1.13% | 95.34 | 94.28 | 8 |
| 10 | ATLAS AIR TL B | 1.07% | 97.69 | 96.66 | 6 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/17/23-11/24/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | MAGENTA BUYER LLC 2ND LIEN TL | -8.38% | 34.69 | 37.87 | 5 |
| 2 | SELECT STAFFING TL B | -4.47% | 81.00 | 84.79 | 8 |
| 3 | RSA SECURITY LLC TL B | -3.03% | 77.44 | 79.86 | 7 |
| 4 | DURAVANT TL B | -2.81% | 97.00 | 99.81 | 10 |
| 5 | BOYD CORP TL B | -2.53% | 93.79 | 96.22 | 8 |
| 6 | AMC ENTERTAINMENT TL B1 | -1.95% | 81.00 | 82.61 | 12 |
| 7 | TRAEGER TL | -1.71% | 85.07 | 86.55 | 10 |
| 8 | ORBITER GROUP EUR TL B | -1.65% | 96.84 | 98.46 | 11 |
| 9 | DELL SOFTWARE GROUP TL B | -1.64% | 74.74 | 75.99 | 11 |
| 10 | HOMEVI EUR TL B | -1.32% | 87.84 | 89.02 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/17/23-11/24/23
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 11/17/23-11/24/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/17/23 vs. the week ending 11/24/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | TRAVERSE MIDSTREAM TL B | 10 | 28 | 18 | 180% |
| 2 | BUCKEYE TL B | 2 | 20 | 18 | 900% |
| 3 | FRANCHISE GROUP EXT TL B | 2 | 18 | 16 | 800% |
| 4 | SOCOTEC EUR TL B | 10 | 26 | 16 | 160% |
| 5 | CISION EUR TL | 18 | 32 | 14 | 78% |
| 6 | CULLIGAN TL B | 6 | 20 | 14 | 233% |
| 7 | ELEMENT MATERIALS DD EUR TL | 24 | 38 | 14 | 58% |
| 8 | KETER GROUP EUR TL B1 | 0 | 12 | 12 | NA |
| 9 | QWEST CORPORATION TL A | 10 | 22 | 12 | 120% |
| 10 | JOSTENS 2ND LIEN TL | 6 | 18 | 12 | 200% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/17/23-11/24/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | STARS GROUP TL B | 18 |
| 3 | TRANSDIGM INC. TL H | 17 |
| 4 | ALKEGEN TL B | 17 |
| 5 | ZIGGO EUR TL H | 17 |
| 6 | TELENET EUR TL | 17 |
| 7 | BMC SOFTWARE TL B | 17 |
| 8 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 9 | HILEX POLY TL B | 17 |
| 10 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/17/23-11/24/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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