Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 12/1/23
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 12/1/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Augusta Sportswear Group | 340 | Term Loan | 11/1/2029 | S+650 |
| Iqvia | 1500 | Term Loan | 11/13/2031 | S+200 |
| Flutter Entertainment | 3400 | Term Loan | 11/13/2030 | S+225 |
forward calendar
Forward calendar during the week ending 12/1/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| A-Gas Finco Inc. | $520MM TLB (B2/B) | CITI, HSBC,T RS | Q4 2023 |
| American Airlines Inc. | $750MM TLB (Ba2/BB/BB-) | CITI, BofA, MS | Q4 2023 |
| Davis Standard LLC | $450MM TLB (B) | WF | Q4 2023 |
| Flexera Software LLC | $425MM TL | JEFF, BCLY, UBS, GS, MIZ | Q4 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/24/23 – 12/1/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 7,270 | MEDLINE TL B | -0.02% | 99.94 | 99.95 | 14 |
| 2 | 5,160 | MCAFEE CORP TL | -0.04% | 98.48 | 98.52 | 11 |
| 3 | 5,000 | QWEST CORPORATION TL B | -3.27% | 64.24 | 66.41 | 11 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.10% | 100.05 | 99.95 | 15 |
| 5 | 4,750 | ZAYO TL | -0.70% | 84.94 | 85.54 | 15 |
| 6 | 4,750 | HUB INTL LTD TL B5 | 0.11% | 100.43 | 100.32 | 16 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.12% | 96.72 | 96.60 | 12 |
| 8 | 4,559 | TRANSDIGM INC. TL I | 0.02% | 100.02 | 100.00 | 21 |
| 9 | 4,463 | ULTIMATE SOFTWARE TL B | 0.07% | 100.00 | 99.93 | 13 |
| 10 | 4,260 | NUMERICABLE TL B | -0.48% | 84.98 | 85.39 | 11 |
| 11 | 4,050 | CITRIX TL B | 0.33% | 95.77 | 95.45 | 13 |
| 12 | 3,900 | DIRECTV TL | -0.16% | 98.37 | 98.53 | 16 |
| 13 | 3,580 | CDK GLOBAL TL B | 0.03% | 100.05 | 100.02 | 13 |
| 14 | 3,550 | CITADEL TL B | 0.11% | 99.94 | 99.84 | 13 |
| 15 | 3,500 | SEDGWICK TL B | 0.06% | 100.09 | 100.03 | 10 |
| 16 | 3,500 | AMERICAN AIRLINES TL B | 0.00% | 101.41 | 101.41 | 13 |
| 17 | 3,500 | PILOT TRAVEL TL B | -0.04% | 99.96 | 100.00 | 12 |
| 18 | 3,450 | GOLDEN NUGGET INC TL B | 0.19% | 99.24 | 99.05 | 13 |
| 19 | 3,420 | RCN GRANDE TL | -3.14% | 77.00 | 79.50 | 12 |
| 20 | 3,380 | SOLERA TL B | 0.93% | 97.12 | 96.22 | 14 |
| AVERAGE | 4,289 | -0.29% | 94.94 | 95.13 | 13.4 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/24/23-12/1/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | PACKERS HOLDINGS TL | 5.19% | 63.95 | 60.80 | 12 |
| 2 | SPRINGS WINDOW TL B | 4.40% | 85.27 | 81.67 | 8 |
| 3 | HOUGHTON MIFFLIN TL B | 2.72% | 96.75 | 94.18 | 7 |
| 4 | ACPRODUCTS TL B | 2.31% | 82.78 | 80.91 | 10 |
| 5 | LEAF HOME SOLUTIONS TL | 1.90% | 87.88 | 86.24 | 5 |
| 6 | NATIONAL MENTOR TL B | 1.81% | 90.67 | 89.06 | 11 |
| 7 | MEDIAN KLINIKEN EUR TL B | 1.71% | 94.04 | 92.46 | 11 |
| 8 | INTERTAPE POLYMER US INC TL | 1.44% | 89.95 | 88.68 | 13 |
| 9 | AMERICAN BATH TL | 1.37% | 94.27 | 93.00 | 13 |
| 10 | VALEO FOODS EUR TL B | 1.30% | 93.32 | 92.12 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/24/23-12/1/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | ACCOLADE WINES GBP TL B | -7.65% | 41.99 | 45.48 | 13 |
| 2 | HEARTHSIDE FOODS TL B3 | -5.59% | 78.53 | 83.19 | 12 |
| 3 | CPV SHORE TL B | -5.37% | 83.30 | 88.02 | 8 |
| 4 | ESSENTIAL POWER TL B | -4.51% | 77.02 | 80.65 | 5 |
| 5 | COMMERCEHUB TL B | -3.13% | 92.73 | 95.73 | 7 |
| 6 | DELL SOFTWARE GROUP TL B | -2.65% | 72.76 | 74.74 | 13 |
| 7 | TEAM HEALTH EXT TL B | -2.60% | 72.42 | 74.36 | 8 |
| 8 | KLOECKNER TL B | -2.20% | 91.93 | 94.00 | 8 |
| 9 | RSA SECURITY LLC TL B | -1.92% | 75.96 | 77.44 | 8 |
| 10 | CERBA HEALTHCARE EUR TL D | -1.59% | 97.43 | 99.01 | 12 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/24/23-12/1/23
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 11/24/23-12/1/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/24/23 vs. the week ending 12/1/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | HILEX POLY TL B | 102 | 150 | 48 | 47% |
| 2 | CALPINE CORP TL B9 | 74 | 120 | 46 | 62% |
| 3 | VERITAS US INC TL B | 48 | 92 | 44 | 92% |
| 4 | WESTINGHOUSE TL B | 75 | 118 | 43 | 57% |
| 5 | TRANSUNION TL B6 | 82 | 124 | 42 | 51% |
| 6 | ALKEGEN TL B | 54 | 96 | 42 | 78% |
| 7 | DAVITA TL B | 82 | 124 | 42 | 51% |
| 8 | HELIX GENERATION TL B | 54 | 96 | 42 | 78% |
| 9 | IRIDIUM SATELLITE TL B | 38 | 80 | 42 | 111% |
| 10 | ASPEN DENTAL TL B1 | 31 | 72 | 41 | 132% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/24/23-12/1/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | STARS GROUP TL B | 18 |
| 3 | BMC SOFTWARE TL B | 18 |
| 4 | HILEX POLY TL B | 18 |
| 5 | TRANSDIGM INC. TL H | 17 |
| 6 | ALKEGEN TL B | 17 |
| 7 | ZIGGO EUR TL H | 17 |
| 8 | SS&C TECH TL B5 | 17 |
| 9 | TELENET EUR TL | 17 |
| 10 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/24/23-12/1/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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