Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 4/12/24
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 4/12/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Brand Energy & Infra Services | Term Loan | 1428 | 8/1/2030 | S+500 |
forward calendar
Forward calendar during the week ending 4/12/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| AECOM | $700M TLB (B2/B) | BofA Sec | Q2 2024 |
| American Greetings Corp. | $800M TLB | Barclays | Q2 2024 |
| Advantage Sales & Marketing Inc. | $1.46 TLB credit facilities (B2/B+) | JPM, BofA Sec, Truist, WFC, GA Credit | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/5/24 – 4/12/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 8,572 | GEO GROUP TL1 | -0.40% | 101.30 | 101.70 | 11 |
| 2 | 6,143 | MEDLINE TL B | -0.07% | 100.26 | 100.33 | 13 |
| 3 | 5,385 | ULTIMATE SOFTWARE TL B | -0.02% | 100.33 | 100.35 | 15 |
| 4 | 4,860 | HUB INTL LTD TL B | -0.01% | 100.24 | 100.25 | 16 |
| 5 | 4,750 | ZAYO TL | -0.06% | 86.78 | 86.83 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.03% | 99.48 | 99.45 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | -0.06% | 100.33 | 100.38 | 16 |
| 8 | 4,260 | NUMERICABLE TL B | -4.43% | 76.75 | 80.30 | 14 |
| 9 | 4,050 | CITRIX TL B | 0.00% | 99.67 | 99.67 | 13 |
| 10 | 3,900 | DIRECTV TL | 0.03% | 100.20 | 100.17 | 17 |
| 11 | 3,580 | CDK GLOBAL TL B | -0.10% | 100.27 | 100.37 | 16 |
| 12 | 3,564 | MKS INSTRUMENTS TL B | 0.02% | 99.94 | 99.91 | 10 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | -0.09% | 103.71 | 103.80 | 12 |
| 14 | 3,500 | SEDGWICK TL B | -0.01% | 100.28 | 100.29 | 10 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.00% | 100.01 | 100.01 | 16 |
| 16 | 3,500 | PILOT TRAVEL TL B | 0.00% | 100.00 | 100.00 | 12 |
| 17 | 3,420 | RCN GRANDE TL | -0.70% | 81.50 | 82.07 | 14 |
| 18 | 3,380 | SOLERA TL B | -0.54% | 98.79 | 99.34 | 16 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.12% | 98.36 | 98.47 | 13 |
| 20 | 3,242 | GOLDEN NUGGET INC TL B | -0.09% | 100.24 | 100.32 | 12 |
| AVERAGE | 4,284 | -0.33% | 97.42 | 97.70 | 13.8 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/5/24-4/12/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | OXEA EUR TL B1 | 11.45% | 86.81 | 77.88 | 10 |
| 2 | GLOBAL TELESYSTEMS 2ND LIEN TL | 7.07% | 94.88 | 88.61 | 5 |
| 3 | ICP GROUP 2ND LIEN TL | 4.55% | 59.25 | 56.67 | 5 |
| 4 | ELECTRONICS FOR IMAGING TL | 2.71% | 83.84 | 81.63 | 8 |
| 5 | HERENS HOLDCO SARL TL B | 2.28% | 95.03 | 92.92 | 4 |
| 6 | GRIFOLS WORLDWIDE EUR TL B | 1.46% | 94.89 | 93.52 | 14 |
| 7 | MOLD-RITE 2ND LIEN TL | 1.46% | 40.36 | 39.78 | 5 |
| 8 | RESEARCH NOW TL | 1.40% | 61.02 | 60.17 | 10 |
| 9 | LIBERTY TIRE TL B | 1.24% | 94.89 | 93.72 | 7 |
| 10 | HEXION INC 2ND LIEN TL | 1.17% | 89.00 | 87.97 | 7 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/5/24-4/12/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | EOS US FINCO LLC TL B | -12.38% | 70.05 | 79.94 | 8 |
| 2 | DUPAGE MEDICAL GROUP TL B | -4.05% | 78.36 | 81.67 | 10 |
| 3 | SKILLSOFT TL B | -3.92% | 84.53 | 87.98 | 9 |
| 4 | PETCO TL B | -3.86% | 87.73 | 91.25 | 15 |
| 5 | SITEL LLC / SITEL FIN CORP TL B | -3.38% | 81.69 | 84.54 | 10 |
| 6 | CERBA HEALTHCARE EUR TL C | -2.46% | 90.23 | 92.50 | 14 |
| 7 | DELL SOFTWARE GROUP TL B | -2.46% | 72.60 | 74.42 | 13 |
| 8 | SELECT STAFFING TL B | -2.35% | 80.54 | 82.48 | 12 |
| 9 | ASURION 2ND LIEN TL B3 | -1.87% | 91.10 | 92.83 | 10 |
| 10 | UPSTREAM REHABILITATION TL | -1.77% | 91.51 | 93.17 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/5/24-4/12/24
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 4/5/24-4/12/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/5/24 vs. the week ending 4/12/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | EPIC Y-GRADE SERVICES TL B | 16 | 60 | 44 | 275% |
| 2 | LEAF HOME SOLUTIONS TL | 18 | 54 | 36 | 200% |
| 3 | LIFESCAN TL B | 16 | 46 | 30 | 188% |
| 4 | ALPHIA INC TL B | 51 | 80 | 29 | 57% |
| 5 | TELESAT TL B5 | 28 | 57 | 29 | 104% |
| 6 | ENTEGRIS TL B | 16 | 43 | 27 | 169% |
| 7 | VERITEXT TL B | 34 | 60 | 26 | 76% |
| 8 | TEKNI-PLEX TL B6 | 18 | 44 | 26 | 144% |
| 9 | BLACKHAWK NETWORK TL B | 56 | 80 | 24 | 43% |
| 10 | COBHAM EUR TL B | 14 | 38 | 24 | 171% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/5/24-4/12/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL J | 18 |
| 2 | FRONERI TL B | 18 |
| 3 | TRANSDIGM INC. TL I | 18 |
| 4 | GATES GLOBAL TL B3 | 17 |
| 5 | DIRECTV TL | 17 |
| 6 | TENNECO TL B | 17 |
| 7 | ALKEGEN TL B | 17 |
| 8 | CALPINE CONSTRUCTION FINANCE TL B | 16 |
| 9 | TRANSDIGM INC. TL I | 16 |
| 10 | HUB INTL LTD TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/5/24-4/12/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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