Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 1/19/24
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 1/19/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Dave & Buster’s Inc. | 898 | Term Loan | 6/1/2029 | S+325 |
| AL GCX Hldg LLC | 597 | Term Loan | 5/17/2029 | S+325 |
| Signature Aviation US Hldg Inc. | 1483 | Term Loan | 7/1/2029 | S+300 |
forward calendar
Forward calendar during the week ending 1/19/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Caesar’s Entertainment Inc. | $2B TLB (Ba3) | JPM | Q1 2024 |
| Kohler Energy | $1.625B TLB | BofA,GS,BMO,DB,HSBC,MIZ | Q1 2024 |
| Savers Inc. | $323MM TLB | KKR | Q1 2024 |
| Vistage Worldwide | $125MM TL | GLB | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/12/24 – 1/19/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | 0.22% | 102.26 | 102.04 | 11 |
| 2 | 7,270 | MEDLINE TL B | -0.14% | 100.04 | 100.18 | 13 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.08% | 100.19 | 100.11 | 13 |
| 4 | 4,750 | HUB INTL LTD TL B5 | -0.21% | 100.02 | 100.24 | 15 |
| 5 | 4,750 | ZAYO TL | -0.66% | 83.86 | 84.42 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.14% | 98.20 | 98.34 | 13 |
| 7 | 4,559 | TRANSDIGM INC. TL I | -0.09% | 100.25 | 100.34 | 18 |
| 8 | 4,463 | ULTIMATE SOFTWARE TL B | -0.05% | 99.98 | 100.03 | 13 |
| 9 | 4,415 | ICON PLC TL B | -0.01% | 100.20 | 100.21 | 10 |
| 10 | 4,050 | CITRIX TL B | 0.03% | 97.65 | 97.63 | 14 |
| 11 | 3,900 | DIRECTV TL | -0.07% | 99.72 | 99.79 | 18 |
| 12 | 3,580 | CDK GLOBAL TL B | -0.08% | 100.26 | 100.34 | 15 |
| 13 | 3,550 | CITADEL TL B | -0.06% | 99.87 | 99.93 | 12 |
| 14 | 3,500 | PILOT TRAVEL TL B | -0.09% | 100.08 | 100.17 | 12 |
| 15 | 3,500 | SEDGWICK TL B | -0.01% | 100.22 | 100.23 | 10 |
| 16 | 3,500 | AMERICAN AIRLINES TL B | -0.17% | 102.51 | 102.69 | 14 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | 0.07% | 99.90 | 99.84 | 14 |
| 18 | 3,420 | RCN GRANDE TL | 2.28% | 80.51 | 78.72 | 14 |
| 19 | 3,380 | SOLERA TL B | -0.06% | 97.86 | 97.92 | 14 |
| 20 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -0.34% | 91.77 | 92.08 | 10 |
| AVERAGE | 4,385 | 0.02% | 97.77 | 97.76 | 13.4 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 1/12/24-1/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ANASTASIA BEVERLY HILLS TL B | 9.28% | 66.05 | 60.44 | 12 |
| 2 | LIMETREE BAY TL B | 8.52% | 96.80 | 89.20 | 8 |
| 3 | CBS RADIO INC TL B | 4.64% | 54.93 | 52.50 | 10 |
| 4 | POWER BUYER 2ND LIEN TL | 4.43% | 74.00 | 70.86 | 5 |
| 5 | SINCLAIR BROADCAST GROUP INC. TL B4 | 3.99% | 85.68 | 82.39 | 9 |
| 6 | RCN GRANDE TL | 2.28% | 80.51 | 78.72 | 14 |
| 7 | XELLA INTERNATIONAL GMBH EUR TL B | 2.03% | 92.65 | 90.80 | 14 |
| 8 | LANDESK 2ND LIEN TL | 1.93% | 81.12 | 79.59 | 7 |
| 9 | ADB SAFEGATE EUR TL B | 1.80% | 92.54 | 90.91 | 9 |
| 10 | CARROLS HOLDCO INC TL B | 1.79% | 100.02 | 98.26 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/12/24-1/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | RESEARCH NOW TL | -12.03% | 64.20 | 72.98 | 8 |
| 2 | ACCELL GROUP EUR TL B | -10.58% | 66.25 | 74.08 | 12 |
| 3 | WEIGHT WATCHERS TL B | -9.63% | 60.17 | 66.59 | 10 |
| 4 | SI GROUP TL | -8.55% | 60.46 | 66.11 | 11 |
| 5 | HEARTHSIDE FOODS TL B | -5.06% | 74.49 | 78.46 | 18 |
| 6 | HEUBACH GMBH TL B | -4.10% | 37.86 | 39.48 | 8 |
| 7 | USS PARENT TL B | -3.40% | 74.43 | 77.06 | 13 |
| 8 | TELESAT TL B5 | -3.24% | 59.83 | 61.84 | 6 |
| 9 | CONVERGEONE TL B | -2.26% | 53.89 | 55.14 | 6 |
| 10 | ACCELERATED HEALTH SYSTEMS LLC TL B | -2.26% | 81.04 | 82.91 | 8 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/12/24-1/19/24
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 1/12/24-1/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/12/24 vs. the week ending 1/19/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | SS&C TECH TL B | 0 | 74 | 74 | NA |
| 2 | AVOLON TL B | 44 | 86 | 42 | 95% |
| 3 | SCIENTIFIC GAMES TL B | 8 | 48 | 40 | 500% |
| 4 | IHEART TL B | 18 | 57 | 39 | 217% |
| 5 | SS&C TECH TL B | 42 | 74 | 32 | 76% |
| 6 | IHEART TL B | 20 | 46 | 26 | 130% |
| 7 | PLAYA RESORTS TL B | 58 | 82 | 24 | 41% |
| 8 | EPIC CRUDE TL C | 0 | 24 | 24 | NA |
| 9 | RV RETAILER TL B | 38 | 61 | 23 | 61% |
| 10 | EISNERAMPER TL B | 0 | 22 | 22 | NA |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/12/24-1/19/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 18 |
| 2 | HEARTHSIDE FOODS TL B | 18 |
| 3 | ALKEGEN TL B | 18 |
| 4 | HILEX POLY TL B | 18 |
| 5 | WESTINGHOUSE TL B | 18 |
| 6 | DIRECTV TL | 18 |
| 7 | CAPITAL VISION SERVICES LLC TL | 17 |
| 8 | ZIGGO EUR TL H | 17 |
| 9 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 17 |
| 10 | CALPINE CONSTRUCTION FINANCE TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/12/24-1/19/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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