Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 5/3/24
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 5/3/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Aspect Software Inc. | Term Loan | 39 | 5/5/2028 | S+600 |
| Avantor Performance Materials Holdings Inc. | Term Loan | 772 | 11/8/2027 | S+200 |
| Supplyone Inc. | Term Loan | 795 | 3/20/2031 | S+425 |
forward calendar
Forward calendar during the week ending 5/3/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Caesars Entertainment Inc. | $2.475B | JPM | Q2 2024 |
| Cornerstone Building Brands Inc. | $500MM TLB (B2/B) | DB | Q2 2024 |
| Grant Thornton Advisors | $1.8B TLB | DB,BMO,JEFF,GLB,BofA,KKR | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/26/24 – 5/3/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 4,750 | ZAYO TL | 0.94% | 86.93 | 86.13 | 15 |
| 2 | 3,900 | DIRECTV TL | 0.08% | 100.41 | 100.32 | 17 |
| 3 | 3,500 | AMERICAN AIRLINES TL B | 0.19% | 104.04 | 103.84 | 14 |
| 4 | 3,300 | NTL CABLE PLC TL N | 0.01% | 98.05 | 98.04 | 13 |
| 5 | 3,300 | NTL CABLE PLC TL N | 0.01% | 98.05 | 98.04 | 13 |
| 6 | 3,100 | ASURION TL B8 | 0.21% | 97.80 | 97.60 | 10 |
| 7 | 2,985 | HARBOR FREIGHT TL B | 0.10% | 100.16 | 100.06 | 15 |
| 8 | 2,800 | ASURION 2ND LIEN TL B4 | 0.22% | 90.03 | 89.83 | 10 |
| 9 | 2,670 | FRONERI TL B | 0.11% | 100.14 | 100.03 | 18 |
| 10 | 2,550 | GENESEE & WYOMING TL | 0.00% | 100.00 | 100.00 | 13 |
| 11 | 2,525 | ZIGGO TL I | 0.28% | 98.81 | 98.53 | 13 |
| 12 | 2,500 | GRIFOLS WORLDWIDE TL B | 0.62% | 98.18 | 97.57 | 12 |
| 13 | 2,295 | TELENET TL | 0.20% | 96.14 | 95.95 | 11 |
| 14 | 2,250 | ZIGGO EUR TL H | 0.21% | 97.90 | 97.69 | 16 |
| 15 | 2,192 | UNIVERSAL SERVICES TL B | 0.16% | 100.14 | 99.98 | 11 |
| 16 | 2,190 | SRS DISTRIBUTION TL B | 0.01% | 100.67 | 100.66 | 11 |
| 17 | 2,180 | FRONERI EUR TL B | -0.20% | 99.46 | 99.65 | 13 |
| 18 | 2,105 | STADA ARZNEIMITTEL EUR TL F | -0.08% | 99.64 | 99.72 | 14 |
| 19 | 2,000 | STAPLES TL B1 | -0.54% | 98.26 | 98.79 | 14 |
| 20 | 2,000 | VERISURE EUR TL B | 0.21% | 99.74 | 99.53 | 15 |
| AVERAGE | 2,755 | 0.14% | 98.23 | 98.10 | 13.4 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/26/24-5/3/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | WEIGHT WATCHERS TL B | 15.62% | 48.66 | 42.08 | 11 |
| 2 | DUPAGE MEDICAL GROUP TL B | 14.77% | 82.81 | 72.15 | 9 |
| 3 | PEDIATRIC ASSOCIATES TL B | 8.94% | 95.71 | 87.86 | 9 |
| 4 | ANVIL INTERNATIONAL 2ND LIEN TL | 6.96% | 91.10 | 85.17 | 5 |
| 5 | EOS US FINCO LLC TL B | 4.73% | 73.60 | 70.28 | 10 |
| 6 | KLOECKNER TL B | 4.14% | 90.13 | 86.55 | 12 |
| 7 | QUORUM HEALTH EXIT TL | 4.06% | 67.78 | 65.14 | 4 |
| 8 | SABRE TL B | 3.65% | 90.05 | 86.88 | 6 |
| 9 | TROPICANA TL | 3.33% | 96.54 | 93.42 | 12 |
| 10 | AT HOME STORES TL B | 3.30% | 53.79 | 52.07 | 6 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/26/24-5/3/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | SANDVINE TL | -13.50% | 23.46 | 27.13 | 12 |
| 2 | RUNNER BUYER TL B | -12.53% | 61.14 | 69.90 | 10 |
| 3 | ANASTASIA BEVERLY HILLS TL B | -10.00% | 64.07 | 71.19 | 12 |
| 4 | SITEL LLC / SITEL FIN CORP TL B | -7.76% | 70.93 | 76.89 | 10 |
| 5 | EMPIRE TODAY TL | -5.91% | 70.64 | 75.08 | 11 |
| 6 | NTHRIVE TL B | -5.19% | 79.51 | 83.86 | 6 |
| 7 | CABLEVISION TL B5 | -4.99% | 83.22 | 87.59 | 8 |
| 8 | MEDICAL SOLUTIONS TL | -4.87% | 84.32 | 88.63 | 9 |
| 9 | FRANCHISE GROUP TL B | -4.32% | 81.30 | 84.97 | 7 |
| 10 | USS PARENT TL B | -3.77% | 67.50 | 70.15 | 16 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/26/24-5/3/24
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 4/26/24-5/3/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/26/24 vs. the week ending 5/3/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | BISON MIDSTREAM TL B | 12 | 44 | 32 | 267% |
| 2 | SURGEY CENTER TL | 64 | 95 | 31 | 48% |
| 3 | ICP GROUP 2ND LIEN TL | 0 | 28 | 28 | NA |
| 4 | CONSTELLIS HOLDINGS LLC 2ND LIEN TL | 0 | 28 | 28 | NA |
| 5 | REGIONALCARE HOSPITAL PARTNERS TL B | 24 | 48 | 24 | 100% |
| 6 | GRAHAM PACKAGING TL B | 101 | 125 | 24 | 24% |
| 7 | EPIC HEALTH TL B | 44 | 68 | 24 | 55% |
| 8 | SPRINGS WINDOW TL B | 56 | 78 | 22 | 39% |
| 9 | SOLENIS TL B | 48 | 70 | 22 | 46% |
| 10 | PAREXEL INTERNATIONAL TL | 73 | 94 | 21 | 29% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/26/24-5/3/24
| RANK | TRANCHE | DEALERS |
| 1 | TENNECO TL B | 19 |
| 2 | TRANSDIGM INC. TL J | 18 |
| 3 | ALKEGEN TL B | 18 |
| 4 | FRONERI TL B | 18 |
| 5 | GRAHAM PACKAGING TL B | 18 |
| 6 | DIRECTV TL | 18 |
| 7 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 18 |
| 8 | HILEX POLY TL B | 17 |
| 9 | BERRY PLASTICS TL | 17 |
| 10 | BMC SOFTWARE TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/26/24-5/3/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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