Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 2/2/24

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 2/2/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Four Seasons Hotels Inc. 842 Term Loan B 11/1/2029 S+200
Magnite Inc. 365 Term Loan B 1/1/2031 S+450
Plusgrade Sec 420 Term Loan B 1/17/2031 S+450
WestJet Airlines LTD 1500 Term Loan B 1/23/2031 S+375

forward calendar

Forward calendar during the week ending 2/2/24

Issuer Deal Information Banks Expected Issue Date
Adient $635MM TLB2 BofA Q1 2024
Amer Sports Inc $600MM TLB JPM,GS Q1 2024
American Builders & Contractors Supply Co. Inc. (Abc Supply Co. Inc.) $1.415B TLB BofA,MS Q1 2024
Ankura Consulting Group LLC $577.1MM TL DB Q1 2024
Consolidated Energy Finance SA $750MM TLB (Ba3/BB-/BB+) Q1 2024
Core & Main Inc $750MM TLB JPM Q1 2025
Kohler Energy $1.625B TLB BofA,GS,BMO,DB,HSBC,MIZ Q1 2026
Savers Inc. $323MM TLB KKR Q1 2027
Vistage Worldwide $125MM TL GLB Q1 2028

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/26/24 – 2/2/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 8,572 GEO GROUP TL1 -0.12% 102.18 102.30 11
2 7,270 MEDLINE TL B -0.13% 99.80 99.93 12
3 5,000 UNITED CONTINENTAL TL B -0.40% 100.05 100.45 13
4 4,750 ZAYO TL 0.15% 84.40 84.28 15
5 4,750 HUB INTL LTD TL B -0.32% 99.68 100.00 11
6 4,750 HUB INTL LTD TL B5 -0.31% 99.70 100.01 14
7 4,741 INTERNET BRANDS TL B -0.55% 97.48 98.02 12
8 4,559 TRANSDIGM INC. TL I -0.18% 99.94 100.13 18
9 4,463 ULTIMATE SOFTWARE TL B -0.10% 99.85 99.95 14
10 4,050 CITRIX TL B -0.01% 97.96 97.98 14
11 3,900 DIRECTV TL 0.01% 99.89 99.88 19
12 3,580 CDK GLOBAL TL B -0.13% 100.04 100.17 15
13 3,550 CITADEL TL B -0.26% 99.56 99.82 12
14 3,500 AMERICAN AIRLINES TL B -0.21% 102.26 102.48 13
15 3,500 SEDGWICK TL B -0.25% 99.85 100.11 10
16 3,500 WESTINGHOUSE TL B -0.36% 99.27 99.63 11
17 3,500 PILOT TRAVEL TL B -0.11% 99.82 99.93 12
18 3,450 GOLDEN NUGGET INC TL B 0.04% 99.77 99.73 14
19 3,420 RCN GRANDE TL 0.19% 81.01 80.85 15
20 3,380 SOLERA TL B -0.62% 97.04 97.65 15
AVERAGE 4,409 -0.18% 97.98 98.16 13.5

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 1/26/24-2/2/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 AVISON YOUNG TL 9.18% 33.98 31.12 8
2 MAVENIR TL B 6.35% 65.69 61.76 6
3 CBS RADIO INC TL B 5.85% 57.83 54.63 9
4 VUE INTERNATIONAL BIDCO PLC EUR TL B 5.37% 33.76 32.04 7
5 HURTIGRUTEN GROUP EUR TL B 5.17% 61.24 58.23 10
6 SI GROUP TL 5.12% 69.29 65.92 12
7 ANASTASIA BEVERLY HILLS TL B 4.81% 71.75 68.46 10
8 MOUNTAINEER MERGER TL 4.73% 77.10 73.62 6
9 CONSTELLIS HOLDINGS LLC TL 4.68% 91.01 86.94 6
10 SELECT STAFFING TL B 2.85% 86.00 83.61 12

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/26/24-2/2/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 ACCELL GROUP EUR TL B -10.77% 60.16 67.41 12
2 LOGMEIN TL B -9.02% 43.81 48.15 7
3 RESEARCH NOW 2ND LIEN TL -6.01% 23.36 24.86 5
4 MAGENTA BUYER LLC TL B -5.53% 66.33 70.22 7
5 WEIGHT WATCHERS TL B -5.45% 56.83 60.10 11
6 ARTERRA WINES CANANDA TL B1 -2.58% 91.79 94.22 14
7 MEDICAL SOLUTIONS TL -2.39% 89.35 91.54 9
8 PIXELLE SPECIALTY SOLUTIONS TL B -2.33% 83.64 85.64 9
9 FEMUR BUYER TL -2.31% 87.51 89.58 6
10 QWEST CORPORATION TL A -1.71% 90.76 92.34 7

Avg Bid PX by Sector

Displays the average loan bid price by sector between 1/26/24-2/2/24

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 1/26/24-2/2/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 1/26/24 vs. the week ending 2/2/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GO DADDY TL B 34 84 50 147%
2 CALPINE CORP TL B10 70 112 42 60%
3 PRO MACH TL B 45 79 34 76%
4 CITADEL TL B 28 62 34 121%
5 JAZZ PHARMA TL B 21 50 29 138%
6 AHEAD TL B 8 35 27 338%
7 SBA COMMUNICATIONS CORP TL B 40 66 26 65%
8 TRANSUNION TL B 0 26 26 NA
9 CHARTER NEX TL 60 84 24 40%
10 SCIENTIFIC GAMES TL B 55 78 23 42%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 1/26/24-2/2/24

RANK TRANCHE DEALERS
1 ALKEGEN TL B 19
2 DIRECTV TL 19
3 TRANSDIGM INC. TL I 18
4 ZIGGO EUR TL H 18
5 HILEX POLY TL B 18
6 VERISURE EUR TL B 18
7 WESTINGHOUSE TL B 18
8 HEARTHSIDE FOODS TL B 17
9 TELENET EUR TL 17
10 STADA ARZNEIMITTEL EUR TL F 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 1/26/24-2/2/24

Sector Bid-Offer Spread

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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