Syndicated Bank Loans

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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

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