Syndicated Bank Loan Market Summary – Week Ending 4/19/24
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Syndicated Bank Loan Market Summary: Week Ending 4/19/24
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 4/19/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Utz Quality Foods | Term Loan | 630 | 1/20/2028 | S+275 |
| Savage Enterprises LLC | Term Loan | 275 | 9/1/2028 | S+325 |
forward calendar
Forward calendar during the week ending 4/19/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ahead DB Holdings LLC | $613MM TL | RBC | Q2 2024 |
| Ribbon Communications Inc. | $350MM TLB (B-) | CTZ | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/12/24 – 4/19/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 4,750 | ZAYO TL | -0.73% | 86.15 | 86.78 | 16 |
| 2 | 3,300 | NTL CABLE PLC TL N | -0.54% | 97.83 | 98.36 | 13 |
| 3 | 3,100 | ASURION TL B8 | -0.04% | 97.59 | 97.63 | 12 |
| 4 | 3,000 | DELTA SKYMILES TL B | -0.07% | 102.95 | 103.03 | 15 |
| 5 | 2,750 | REALPAGE TL B | -0.35% | 96.68 | 97.02 | 15 |
| 6 | 2,670 | FRONERI TL B | -0.09% | 99.92 | 100.01 | 18 |
| 7 | 2,670 | FRONERI TL B | -0.09% | 99.92 | 100.01 | 18 |
| 8 | 2,550 | GENESEE & WYOMING TL | 0.00% | 100.00 | 100.00 | 16 |
| 9 | 2,550 | GENESEE & WYOMING TL | 0.00% | 100.00 | 100.00 | 16 |
| 10 | 2,525 | ZIGGO TL I | -0.35% | 98.38 | 98.72 | 14 |
| 11 | 2,500 | NUMERICABLE TL B13 | -0.44% | 83.92 | 84.29 | 10 |
| 12 | 2,500 | GRIFOLS WORLDWIDE TL B | -0.65% | 96.61 | 97.23 | 12 |
| 13 | 2,500 | GRIFOLS WORLDWIDE TL B | -0.65% | 96.61 | 97.23 | 12 |
| 14 | 2,453 | UFC TL B3 | 0.02% | 100.07 | 100.06 | 13 |
| 15 | 2,295 | TELENET TL | -0.74% | 95.93 | 96.64 | 11 |
| 16 | 2,250 | ZIGGO EUR TL H | -0.02% | 97.17 | 97.19 | 16 |
| 17 | 2,180 | FRONERI EUR TL B | -0.01% | 99.08 | 99.09 | 14 |
| 18 | 2,180 | FRONERI EUR TL B | -0.01% | 99.08 | 99.09 | 14 |
| 19 | 2,122 | ASSUREDPARTNERS TL B | -0.05% | 100.06 | 100.11 | 10 |
| 20 | 2,105 | STADA ARZNEIMITTEL EUR TL F | 0.03% | 99.47 | 99.43 | 14 |
| AVERAGE | 2,648 | -0.24% | 97.37 | 97.60 | 14.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/12/24-4/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LIFESCAN TL B | 26.82% | 38.05 | 30.00 | 9 |
| 2 | MICHAELS STORES TL | 5.80% | 92.02 | 86.97 | 14 |
| 3 | OXEA TL | 4.96% | 91.07 | 86.77 | 9 |
| 4 | PHYSICIAN PARTNERS TL | 4.89% | 67.01 | 63.88 | 10 |
| 5 | LABEYRIE EUR TL B | 3.75% | 69.68 | 67.16 | 13 |
| 6 | AIR MEDICAL TL B | 2.89% | 96.01 | 93.31 | 12 |
| 7 | ACCELERATED HEALTH SYSTEMS LLC TL B | 2.86% | 76.93 | 74.79 | 9 |
| 8 | TELESAT TL B5 | 2.69% | 50.52 | 49.20 | 11 |
| 9 | CPV SHORE TL B | 2.45% | 87.40 | 85.31 | 8 |
| 10 | BLOUNT TL B | 2.05% | 87.03 | 85.28 | 16 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/12/24-4/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SCIONHEALTH TL B | -8.94% | 39.83 | 43.74 | 3 |
| 2 | CBS RADIO INC TL B | -7.87% | 52.11 | 56.57 | 8 |
| 3 | SKILLSOFT TL B | -6.76% | 78.81 | 84.53 | 9 |
| 4 | HEARTHSIDE FOODS TL B2 | -5.89% | 66.82 | 71.00 | 9 |
| 5 | CITY BREWING TL B | -5.76% | 65.97 | 70.00 | 11 |
| 6 | HEARTHSIDE FOODS TL B3 | -5.51% | 66.98 | 70.88 | 9 |
| 7 | USS PARENT TL B | -4.69% | 71.57 | 75.09 | 14 |
| 8 | SPRINGS WINDOW TL B | -4.30% | 85.45 | 89.29 | 10 |
| 9 | DELL SOFTWARE GROUP TL B | -4.04% | 69.66 | 72.60 | 13 |
| 10 | SITEL LLC / SITEL FIN CORP TL B | -3.92% | 78.48 | 81.69 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/12/24-4/19/24 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 4/12/24-4/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/12/24 vs. the week ending 4/19/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | RADNET TL B | 4 | 36 | 32 | 800% |
| 2 | CALPINE CORP TL B9 | 92 | 117 | 25 | 27% |
| 3 | NORD ANGLIA EDUCATION FINANC TL B | 54 | 78 | 24 | 44% |
| 4 | ASPECT SOFTWARE TL A | 6 | 30 | 24 | 400% |
| 5 | VISTRA ENERGY TL B | 52 | 74 | 22 | 42% |
| 6 | ASPECT SOFTWARE TL A | 6 | 27 | 21 | 350% |
| 7 | SUMMIT BEHAVIORAL HEALTHCARE TL | 19 | 40 | 21 | 111% |
| 8 | TRC COMPANIES DD TL | 38 | 58 | 20 | 53% |
| 9 | AREAS EUR TL | 18 | 38 | 20 | 111% |
| 10 | NRG ENERGY TL B | 24 | 44 | 20 | 83% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/12/24-4/19/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL J | 18 |
| 2 | FRONERI TL B | 18 |
| 3 | ALKEGEN TL B | 17 |
| 4 | TRANSDIGM INC. TL I | 17 |
| 5 | BERRY PLASTICS TL | 17 |
| 6 | GATES GLOBAL TL B3 | 17 |
| 7 | GRAHAM PACKAGING TL B | 17 |
| 8 | DIRECTV TL | 17 |
| 9 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 17 |
| 10 | TENNECO TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/12/24-4/19/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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