Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 2/9/24
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 2/9/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Applied Systems Inc. | 2420 | Term Loan | 2/1/2031 | S+350 |
| Fitness International LLC | 675 | Term Loan | 1/17/2029 | S+525 |
| Core & Main LP | 750 | Term Loan | 2/5/2031 | S+225 |
forward calendar
Forward calendar during the week ending 2/9/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Alterra Mountain Co. | $200M add-on TLB | JPM | Q1 2024 |
| First Eagle Investment Management | $1.775B TLB | MS | Q1 2024 |
| Gray Television Inc. | $1.19B TLF (Ba3/BB/BB+) | WF | Q1 2024 |
| Vestis Corp. | $800MM TLB (Ba2/BB+) | WF | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 2/2/24 – 2/9/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 3,300 | NTL CABLE PLC TL N | -0.02% | 98.02 | 98.04 | 13 |
| 2 | 3,200 | COMMSCOPE TL B2 | -0.13% | 87.14 | 87.26 | 11 |
| 3 | 2,985 | HARBOR FREIGHT TL B | 0.02% | 98.54 | 98.52 | 14 |
| 4 | 2,550 | GENESEE & WYOMING TL | 0.01% | 99.89 | 99.87 | 14 |
| 5 | 2,525 | ZIGGO TL I | -0.01% | 97.60 | 97.61 | 11 |
| 6 | 2,500 | GRIFOLS WORLDWIDE TL B | 0.52% | 97.85 | 97.34 | 11 |
| 7 | 2,250 | ZIGGO EUR TL H | -0.06% | 97.49 | 97.55 | 18 |
| 8 | 2,180 | FRONERI EUR TL B | -0.10% | 99.53 | 99.62 | 14 |
| 9 | 2,100 | HUSKY INJECTION MOLDING TL B | 1.12% | 99.69 | 98.59 | 15 |
| 10 | 2,000 | STAPLES TL B1 | 0.77% | 94.74 | 94.01 | 12 |
| 11 | 2,000 | AMC ENTERTAINMENT TL B1 | 0.07% | 79.24 | 79.19 | 16 |
| 12 | 2,000 | CLEAR CHANNEL OUTDOOR TL B | 0.13% | 98.79 | 98.66 | 13 |
| 13 | 1,963 | SIVANTOS EUR TL B1 | -0.20% | 98.58 | 98.78 | 12 |
| 14 | 1,940 | CALIBER COLLISION TL | -0.11% | 99.89 | 100.01 | 10 |
| 15 | 1,800 | EIRCOM FINCO SARL EUR TL B | -0.24% | 99.80 | 100.04 | 16 |
| 16 | 1,791 | BRIGHTSPRING TL B | 0.24% | 99.78 | 99.54 | 10 |
| 17 | 1,700 | AMER SPORTS EUR TL B | -0.16% | 99.81 | 99.97 | 13 |
| 18 | 1,650 | DIGICERT TL | 0.00% | 99.14 | 99.15 | 12 |
| 19 | 1,650 | CENGAGE TL B | -0.05% | 99.75 | 99.81 | 14 |
| 20 | 1,594 | FIRST EAGLE TL B | 0.21% | 99.54 | 99.34 | 13 |
| AVERAGE | 2,184 | 0.10% | 97.24 | 97.15 | 13.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 2/2/24-2/9/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | LOGMEIN TL B | 40.29% | 61.46 | 43.81 | 6 |
| 2 | HEALTHCHANNELS TL | 7.32% | 67.27 | 62.68 | 5 |
| 3 | WHEEL PROS TL | 5.03% | 79.15 | 75.35 | 8 |
| 4 | CITY BREWING TL B | 4.94% | 79.30 | 75.57 | 7 |
| 5 | SOUND PHYSICIANS TL | 4.63% | 32.54 | 31.10 | 6 |
| 6 | TENNECO TL A | 2.94% | 92.88 | 90.23 | 8 |
| 7 | PLANET FITNESS TL | 2.68% | 89.20 | 86.87 | 7 |
| 8 | ESSENTIAL POWER TL B | 2.32% | 83.90 | 82.00 | 4 |
| 9 | CARESTREAM HEALTH TL B | 2.23% | 82.81 | 81.00 | 6 |
| 10 | MOLD-RITE TL | 2.15% | 81.10 | 79.39 | 8 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 2/2/24-2/9/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | ASTRA ACQUISITION CORP 2ND LIEN TL | -24.55% | 30.12 | 39.92 | 6 |
| 2 | DUPAGE MEDICAL GROUP TL B | -6.29% | 83.50 | 89.11 | 8 |
| 3 | SINCLAIR BROADCAST GROUP INC. TL B3 | -5.45% | 86.00 | 90.97 | 11 |
| 4 | ACCELL GROUP EUR TL B | -5.30% | 56.97 | 60.16 | 12 |
| 5 | MAGENTA BUYER LLC 2ND LIEN TL | -4.68% | 33.03 | 34.65 | 5 |
| 6 | CBS RADIO INC TL B | -4.47% | 55.24 | 57.83 | 9 |
| 7 | RESEARCH NOW TL | -3.34% | 61.37 | 63.49 | 8 |
| 8 | ACCELERATED HEALTH SYSTEMS LLC TL B | -3.11% | 77.43 | 79.91 | 7 |
| 9 | EW SCRIPPS EXT TL B3 | -2.64% | 96.24 | 98.85 | 11 |
| 10 | GRAY TELEVISION TL D | -2.38% | 96.05 | 98.39 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/2/24-2/9/24
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 2/2/24-2/9/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/2/24 vs. the week ending 2/9/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | ULTIMATE SOFTWARE TL B | 32 | 94 | 62 | 194% |
| 2 | NUTRISYSTEM TL B | 14 | 74 | 60 | 429% |
| 3 | TRANSUNION TL B | 26 | 74 | 48 | 185% |
| 4 | NEP PIK TL B | 28 | 72 | 44 | 157% |
| 5 | SHEARERS TL B | 32 | 74 | 42 | 131% |
| 6 | ORYX SOUTHERN TL B | 10 | 39 | 29 | 290% |
| 7 | ZELIS / REDCARD TL B | 38 | 64 | 26 | 68% |
| 8 | VISUAL COMFORT 2ND LIEN TL | 4 | 30 | 26 | 650% |
| 9 | ASPEN DENTAL TL B | 20 | 44 | 24 | 120% |
| 10 | FLINT GROUP PROPCO EUR TL | 2 | 22 | 20 | 1000% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/2/24-2/9/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL I | 19 |
| 2 | DIRECTV TL | 19 |
| 3 | ALKEGEN TL B | 18 |
| 4 | ZIGGO EUR TL H | 18 |
| 5 | TELENET EUR TL | 18 |
| 6 | VERISURE EUR TL B | 18 |
| 7 | HEARTHSIDE FOODS TL B | 17 |
| 8 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 9 | STADA ARZNEIMITTEL EUR TL F | 17 |
| 10 | KANTAR EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/2/24-2/9/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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