Syndicated Bank Loan Market Summary – Week Ending 5/10/24
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Syndicated Bank Loan Market Summary: Week Ending 5/10/24
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 5/10/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Waterbridge Operating LLC | Term Loan | 575 | 4/23/2029 | S+450 |
| Caesars Entertainment Inc. | Term Loan | 2475 | 2/1/2030 | S+275 |
| Alderwoods Group Inc. | Term Loan | 675 | 1/11/2028 | S+150 |
forward calendar
Forward calendar during the week ending 5/10/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Amwins Group Inc. | $839M TL | GS | Q2 2024 |
| Grant Thornton Advisors | $1.8B TLB | DB,BMO,JEFF,GLB,BofA,KKR | Q2 2024 |
| Lifepoint Health | $500M TLB | CITI,BCLY,JPM,MS, RBC | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/3/24 – 5/10/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.23% | 100.58 | 100.35 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.18% | 100.77 | 100.58 | 14 |
| 3 | 4,860 | HUB INTL LTD TL B | 0.21% | 100.79 | 100.57 | 17 |
| 4 | 4,750 | ZAYO TL | -2.88% | 84.43 | 86.93 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.28% | 100.04 | 99.76 | 13 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.18% | 100.71 | 100.53 | 17 |
| 7 | 4,260 | NUMERICABLE TL B14 | -0.02% | 74.15 | 74.16 | 10 |
| 8 | 4,050 | CITRIX TL B | 0.04% | 100.18 | 100.14 | 13 |
| 9 | 3,900 | DIRECTV TL | 0.27% | 100.68 | 100.41 | 18 |
| 10 | 3,580 | CDK GLOBAL TL B | 0.22% | 100.43 | 100.21 | 16 |
| 11 | 3,500 | SEDGWICK TL B | 0.09% | 100.54 | 100.45 | 11 |
| 12 | 3,500 | WESTINGHOUSE TL B | 0.31% | 100.46 | 100.15 | 15 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | 0.22% | 104.26 | 104.04 | 14 |
| 14 | 3,420 | RCN GRANDE TL | -2.57% | 77.65 | 79.70 | 13 |
| 15 | 3,380 | SOLERA TL B | 0.43% | 99.94 | 99.51 | 16 |
| 16 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 1.12% | 95.19 | 94.13 | 11 |
| 17 | 3,300 | NTL CABLE PLC TL N | 0.41% | 98.45 | 98.05 | 13 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.41% | 98.45 | 98.05 | 13 |
| 19 | 3,250 | CORELOGIC TL B | 1.41% | 98.75 | 97.38 | 10 |
| 20 | 3,242 | GOLDEN NUGGET INC TL B | 0.19% | 100.43 | 100.24 | 11 |
| AVERAGE | 3,997 | 0.04% | 96.84 | 96.77 | 13.8 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/3/24-5/10/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SCIONHEALTH TL B | 11.90% | 44.00 | 39.32 | 3 |
| 2 | TRINSEO TL B | 8.57% | 75.48 | 69.53 | 12 |
| 3 | ANASTASIA BEVERLY HILLS TL B | 6.65% | 68.33 | 64.07 | 13 |
| 4 | TEAM HEALTH EXT TL B | 6.41% | 93.44 | 87.81 | 8 |
| 5 | MAGENTA BUYER LLC TL | 5.94% | 53.55 | 50.54 | 10 |
| 6 | EMBECTA TL B | 5.25% | 92.54 | 87.92 | 12 |
| 7 | ASURION 2ND LIEN TL B4 | 3.92% | 93.55 | 90.03 | 10 |
| 8 | MAVENIR TL B | 3.59% | 76.77 | 74.11 | 6 |
| 9 | SECTOR ALARM HOLDING EUR TL B1 | 2.88% | 98.14 | 95.40 | 14 |
| 10 | RESEARCH NOW TL | 2.82% | 63.75 | 62.00 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/3/24-5/10/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CORRECT CARE TL B | -6.21% | 72.35 | 77.13 | 11 |
| 2 | MULTIPLAN TL B | -5.63% | 86.90 | 92.09 | 10 |
| 3 | IHEART TL B | -4.91% | 83.20 | 87.49 | 8 |
| 4 | PETCO TL B | -4.40% | 81.65 | 85.41 | 17 |
| 5 | CISION TL B | -3.70% | 66.44 | 69.00 | 11 |
| 6 | COMMERCEHUB TL B | -3.51% | 94.03 | 97.45 | 9 |
| 7 | LIGHTPATH TL | -3.28% | 94.67 | 97.88 | 7 |
| 8 | RINCHEM TL | -3.15% | 84.89 | 87.65 | 7 |
| 9 | LANDESK TL B | -2.99% | 88.81 | 91.54 | 9 |
| 10 | ZAYO TL | -2.88% | 84.43 | 86.93 | 15 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/3/24-5/10/24 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 5/3/24-5/10/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/3/24 vs. the week ending 5/10/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | 1-800 CONTACTS TL | 18 | 58 | 40 | 222% |
| 2 | ALL 3 MEDIA TL B | 10 | 40 | 30 | 300% |
| 3 | JANUS INTERNATIONAL TL B | 16 | 46 | 30 | 188% |
| 4 | BEACON ROOFING TL B | 76 | 104 | 28 | 37% |
| 5 | AZZ INC TL B | 10 | 34 | 24 | 240% |
| 6 | ANCHOR PACKAGING TL B | 4 | 28 | 24 | 600% |
| 7 | US SILICA CO TL B | 7 | 31 | 24 | 343% |
| 8 | TRANSUNION TL B5 | 41 | 64 | 23 | 56% |
| 9 | STORABLE TL B | 10 | 32 | 22 | 220% |
| 10 | SELECT STAFFING TL B | 45 | 66 | 21 | 47% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/3/24-5/10/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TENNECO TL B | 19 |
| 2 | ALKEGEN TL B | 19 |
| 3 | FRONERI TL B | 19 |
| 4 | TRANSDIGM INC. TL J | 18 |
| 5 | BERRY PLASTICS TL | 18 |
| 6 | HILEX POLY TL B | 18 |
| 7 | GRAHAM PACKAGING TL B | 18 |
| 8 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 18 |
| 9 | DIRECTV TL | 18 |
| 10 | HUB INTL LTD TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/3/24-5/10/24
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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