Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 12/22/23
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 12/22/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| — | — | — | — | — |
| — | — | — | — | — |
| — | — | — | — | — |
forward calendar
Forward calendar during the week ending 12/22/23
| Issuer | Deal Information | Banks | Expected Issue Date |
| Hilton Grand Vacations | $900MM TLB (Ba2) | BofA,DB,BCLY,JPM | Q4 2022 |
| NEP | $1.913B TL (Caa1/B/B+) | BCLY,JPM,HSBC,MACQ,PNC | Q4 2022 |
| Ancestry.Com (Arches Buyer Inc.) | $375MM TLB (B1/B) | BofA | Q4 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/15/23 – 12/22/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | 0.14% | 101.80 | 101.66 | 10 |
| 2 | 7,270 | MEDLINE TL B | 0.18% | 100.29 | 100.11 | 14 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | -0.16% | 100.31 | 100.46 | 16 |
| 4 | 4,750 | ZAYO TL | -0.43% | 85.11 | 85.47 | 15 |
| 5 | 4,750 | HUB INTL LTD TL B5 | -0.03% | 100.36 | 100.38 | 17 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.48% | 97.86 | 97.39 | 14 |
| 7 | 4,559 | TRANSDIGM INC. TL I | 0.09% | 100.35 | 100.27 | 21 |
| 8 | 4,463 | ULTIMATE SOFTWARE TL B | 0.10% | 100.23 | 100.13 | 13 |
| 9 | 4,260 | NUMERICABLE TL B | 1.08% | 89.16 | 88.20 | 10 |
| 10 | 4,050 | CITRIX TL B | 0.53% | 97.40 | 96.89 | 14 |
| 11 | 3,900 | DIRECTV TL | 0.20% | 99.88 | 99.68 | 17 |
| 12 | 3,580 | CDK GLOBAL TL B | 0.05% | 100.31 | 100.26 | 14 |
| 13 | 3,550 | CITADEL TL B | 0.09% | 100.12 | 100.03 | 14 |
| 14 | 3,500 | SEDGWICK TL B | 0.07% | 100.26 | 100.19 | 11 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.54% | 102.62 | 102.07 | 13 |
| 16 | 3,500 | PILOT TRAVEL TL B | 0.05% | 100.14 | 100.08 | 13 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | -0.01% | 99.89 | 99.91 | 14 |
| 18 | 3,420 | RCN GRANDE TL | 0.20% | 79.97 | 79.81 | 12 |
| 19 | 3,380 | SOLERA TL B | 0.15% | 97.97 | 97.83 | 15 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.21% | 99.35 | 99.14 | 13 |
| AVERAGE | 4,375 | 0.18% | 97.67 | 97.50 | 14.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/15/23-12/22/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | LERETA TL B | 7.88% | 75.00 | 69.52 | 4 |
| 2 | AT HOME STORES TL B | 7.49% | 42.65 | 39.68 | 6 |
| 3 | IHEART TL B | 7.24% | 86.02 | 80.22 | 7 |
| 4 | IQOR PIK SO TL | 6.13% | 74.63 | 70.32 | 6 |
| 5 | INTERIOR LOGIC TL B | 2.94% | 88.94 | 86.40 | 8 |
| 6 | NEP TL B | 2.86% | 94.24 | 91.62 | 5 |
| 7 | CBS RADIO INC TL B | 2.62% | 44.82 | 43.67 | 8 |
| 8 | DODGE DATA TL | 2.58% | 77.38 | 75.44 | 5 |
| 9 | TEAM HEALTH EXT TL B | 2.51% | 75.77 | 73.92 | 8 |
| 10 | MAGENTA BUYER LLC TL | 2.43% | 67.87 | 66.26 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/15/23-12/22/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
| 1 | COMPREHENSIVE EYECARE PARTNERS DD 2ND LIEN TL | -16.03% | 37.76 | 44.97 | 8 |
| 2 | STRATEGIC PARTNERS TL B | -13.98% | 25.44 | 29.57 | 10 |
| 3 | WHEEL PROS TL | -6.77% | 73.73 | 79.08 | 9 |
| 4 | STRATEGIC MATERIALS TL | -6.39% | 57.89 | 61.84 | 9 |
| 5 | SECURUS TL | -4.87% | 77.15 | 81.10 | 7 |
| 6 | CONVERGEONE TL B | -3.63% | 55.23 | 57.31 | 6 |
| 7 | WOMEN’S CARE 2ND LIEN TL B | -2.41% | 75.16 | 77.01 | 3 |
| 8 | DYNACAST TL B | -2.38% | 92.00 | 94.24 | 5 |
| 9 | TELESAT TL B5 | -1.89% | 63.98 | 65.22 | 6 |
| 10 | SI GROUP TL | -0.97% | 68.41 | 69.07 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/15/23-12/22/23
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 12/15/23-12/22/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/15/23 vs. the week ending 12/22/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SS&C TECH TL B5 | 28 | 104 | 76 | 271% |
| 2 | TRANSUNION TL B6 | 22 | 95 | 73 | 332% |
| 3 | SS&C TECH TL B3 | 18 | 68 | 50 | 278% |
| 4 | IHEART TL B | 10 | 48 | 38 | 380% |
| 5 | TRANSUNION TL B5 | 6 | 44 | 38 | 633% |
| 6 | IHEART TL B | 9 | 46 | 37 | 411% |
| 7 | SS&C TECH TL B4 | 22 | 58 | 36 | 164% |
| 8 | BLACKSTONE CQP TL B | 28 | 62 | 34 | 121% |
| 9 | NEXSTAR BROADCASTING TL B | 6 | 30 | 24 | 400% |
| 10 | BMC SOFTWARE TL B | 44 | 66 | 22 | 50% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/15/23-12/22/23
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | BMC SOFTWARE TL B | 19 |
| 3 | TRANSDIGM INC. TL H | 18 |
| 4 | SS&C TECH TL B5 | 18 |
| 5 | HILEX POLY TL B | 18 |
| 6 | HUB INTL LTD TL B4 | 17 |
| 7 | HUB INTL LTD TL B5 | 17 |
| 8 | ALKEGEN TL B | 17 |
| 9 | ZIGGO EUR TL H | 17 |
| 10 | WESTINGHOUSE TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/15/23-12/22/23
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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