Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 1/5/24
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 1/5/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| OMNIA Partners Inc. | 1650 | Term Loan | 7/25/2030 | S+425 |
| Hilton Domestic Operating Co. | 2119 | Term Loan | 11/8/2030 | S+200 |
forward calendar
Forward calendar during the week ending 1/5/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Clarios Global | $2.743B TLB | JPM,BMO,SCT,BCLY,BNP | Q1 2024 |
| KBR Inc. | $800MM TLB (Ba1/BB) | BofA | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/29/23 – 1/5/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | -0.62% | 101.23 | 101.86 | 10 |
| 2 | 7,270 | MEDLINE TL B | -0.15% | 100.33 | 100.47 | 13 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | -0.16% | 100.17 | 100.34 | 15 |
| 4 | 4,750 | HUB INTL LTD TL B5 | -0.07% | 100.33 | 100.40 | 15 |
| 5 | 4,750 | ZAYO TL | -1.67% | 83.95 | 85.37 | 13 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.04% | 98.19 | 98.22 | 13 |
| 7 | 4,559 | TRANSDIGM INC. TL I | -0.02% | 100.36 | 100.38 | 19 |
| 8 | 4,463 | ULTIMATE SOFTWARE TL B | -0.10% | 100.14 | 100.25 | 14 |
| 9 | 4,415 | ICON PLC TL B | -0.13% | 100.30 | 100.43 | 10 |
| 10 | 4,050 | CITRIX TL B | 0.16% | 97.49 | 97.34 | 13 |
| 11 | 3,900 | DIRECTV TL | -0.08% | 99.85 | 99.93 | 16 |
| 12 | 3,580 | CDK GLOBAL TL B | 0.01% | 100.38 | 100.37 | 14 |
| 13 | 3,550 | CITADEL TL B | 0.10% | 100.23 | 100.13 | 12 |
| 14 | 3,500 | PILOT TRAVEL TL B | 0.01% | 100.22 | 100.21 | 12 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.24% | 102.55 | 102.80 | 14 |
| 16 | 3,500 | SEDGWICK TL B | 0.01% | 100.25 | 100.25 | 10 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | -0.13% | 99.91 | 100.04 | 13 |
| 18 | 3,420 | RCN GRANDE TL | -1.45% | 78.66 | 79.81 | 14 |
| 19 | 3,380 | SOLERA TL B | -0.66% | 97.93 | 98.57 | 15 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.16% | 99.72 | 99.56 | 12 |
| AVERAGE | 4,383 | -0.25% | 98.11 | 98.34 | 13.4 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/29/23-1/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | TEAM HEALTH EXT TL B | 3.76% | 78.62 | 75.77 | 8 |
| 2 | DELL SOFTWARE GROUP TL B | 1.69% | 77.51 | 76.22 | 12 |
| 3 | RSA SECURITY LLC TL B | 1.54% | 76.43 | 75.27 | 7 |
| 4 | FRANCHISE GROUP EXT TL B | 1.37% | 80.74 | 79.65 | 3 |
| 5 | BBB INDUSTRIES TL B | 1.32% | 95.40 | 94.15 | 7 |
| 6 | ASCEND PERFORMANCE MATERIALS TL B | 1.32% | 97.06 | 95.80 | 10 |
| 7 | SABRE TL B2 | 1.27% | 88.41 | 87.30 | 5 |
| 8 | NUMERICABLE TL B12 | 1.26% | 94.94 | 93.75 | 7 |
| 9 | SELECT STAFFING TL B | 1.21% | 82.75 | 81.76 | 9 |
| 10 | CLUB CORP TL B | 1.15% | 97.24 | 96.14 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/29/23-1/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | SI GROUP TL | -3.45% | 66.25 | 68.62 | 9 |
| 2 | AMC ENTERTAINMENT TL B1 | -2.80% | 80.93 | 83.27 | 12 |
| 3 | ZAYO TL | -1.67% | 83.95 | 85.37 | 13 |
| 4 | RCN GRANDE TL | -1.45% | 78.66 | 79.81 | 14 |
| 5 | CONSTELLATION ENTERPRISES 2ND LIEN GBP TL | -0.71% | 71.29 | 71.80 | 10 |
| 6 | SOLERA TL B | -0.66% | 97.93 | 98.57 | 15 |
| 7 | ANCESTRY.COM TL B | -0.59% | 97.06 | 97.63 | 12 |
| 8 | VERITAS US INC TL B | -0.58% | 82.46 | 82.94 | 14 |
| 9 | IHEART TL B | -0.42% | 85.60 | 85.96 | 12 |
| 10 | SINCLAIR BROADCAST GROUP INC. TL B4 | -0.38% | 80.91 | 81.22 | 8 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/29/23-1/5/24
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 12/29/23-1/5/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/29/23 vs. the week ending 1/5/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | DELTA SKYMILES TL B | 46 | 102 | 56 | 122% |
| 2 | GENESYS TELECOM TL B | 16 | 72 | 56 | 350% |
| 3 | TRANSUNION TL B6 | 54 | 109 | 55 | 102% |
| 4 | OLDCASTLE TL B | 20 | 74 | 54 | 270% |
| 5 | UBER TECHNOLOGIES TL B | 12 | 66 | 54 | 450% |
| 6 | BROADSTREET PARTNERS TL B | 24 | 76 | 52 | 217% |
| 7 | GATES GLOBAL TL B3 | 46 | 98 | 52 | 113% |
| 8 | FRONERI TL B | 42 | 93 | 51 | 121% |
| 9 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 34 | 84 | 50 | 147% |
| 10 | TK ELEVATOR TL B | 34 | 84 | 50 | 147% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/29/23-1/5/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 19 |
| 2 | HILEX POLY TL B | 18 |
| 3 | TELENET EUR TL | 17 |
| 4 | ALKEGEN TL B | 17 |
| 5 | ZIGGO EUR TL H | 17 |
| 6 | HEARTHSIDE FOODS TL B | 16 |
| 7 | CALPINE CONSTRUCTION FINANCE TL B | 16 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 9 | SS&C TECH TL B5 | 16 |
| 10 | NTL CABLE PLC EUR TL R | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/29/23-1/5/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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