Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 5/17/24

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 5/17/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
American Airlines Inc. Term Loan 1100 6/4/2029 S+250
Proofpoint Inc. Term Loan 3340 8/1/2028 S+300
Organon & Co. Term Loan 1550 5/7/2031 S+250

forward calendar

Forward calendar during the week ending 5/17/24

Issuer Deal Information Banks Expected Issue Date
Learning Care Group $896M TLB JPM Q2 2024
Moneygram International Inc. $398M TLB GS Q2 2024
Sotera Health Co. $1.509B TLB (BB-) JPM Q2 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/10/24 – 5/17/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B 0.09% 100.67 100.58 15
2 5,385 ULTIMATE SOFTWARE TL B 0.01% 100.77 100.77 14
3 4,860 HUB INTL LTD TL B -0.03% 100.76 100.79 17
4 4,750 ZAYO TL -0.88% 83.68 84.43 16
5 4,741 INTERNET BRANDS TL B 0.05% 100.09 100.04 13
6 4,525 TRANSDIGM INC. TL I -0.13% 100.58 100.71 18
7 4,050 CITRIX TL B 0.16% 100.34 100.18 14
8 3,935 SS&C TECH TL B8 -0.04% 100.39 100.43 13
9 3,900 DIRECTV TL -0.17% 100.51 100.68 18
10 3,580 CDK GLOBAL TL B 0.27% 100.70 100.43 17
11 3,564 MKS INSTRUMENTS TL B -0.32% 100.24 100.55 13
12 3,500 WESTINGHOUSE TL B 0.05% 100.52 100.46 15
13 3,500 SEDGWICK TL B -0.05% 100.49 100.54 11
14 3,500 AMERICAN AIRLINES TL B -0.03% 104.23 104.26 14
15 3,420 RCN GRANDE TL 1.09% 78.50 77.65 13
16 3,380 SOLERA TL B 0.11% 100.05 99.94 16
17 3,350 THE NIELSEN COMPANY B.V. TL B 0.47% 95.63 95.19 11
18 3,300 NTL CABLE PLC TL N -0.23% 98.22 98.45 13
19 3,250 CORELOGIC TL B -0.24% 98.51 98.75 10
20 3,242 GOLDEN NUGGET INC TL B -0.15% 100.28 100.43 11
AVERAGE 3,994 0.00% 98.26 98.26 14.1

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 5/10/24-5/17/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 LIFESCAN TL B 13.30% 43.38 38.29 8
2 MAGENTA BUYER LLC TL 7.22% 57.42 53.55 10
3 SITEL LLC / SITEL FIN CORP TL B 6.08% 74.88 70.59 12
4 IQOR PIK SO TL 5.86% 90.00 85.02 5
5 CERBA HEALTHCARE EUR TL B 5.40% 91.36 86.69 16
6 TRINSEO TL B 5.38% 79.55 75.48 11
7 PHYSICIAN PARTNERS TL 5.20% 75.18 71.46 9
8 ANVIL INTERNATIONAL 2ND LIEN TL 4.75% 95.58 91.25 5
9 RSA SECURITY LLC TL B 4.08% 85.26 81.92 9
10 AMC ENTERTAINMENT TL B1 2.97% 89.70 87.12 15

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/10/24-5/17/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 WHEEL PROS TL -21.51% 60.15 76.63 11
2 RUNNER BUYER TL B -8.07% 56.97 61.97 10
3 BLOUNT TL B -7.18% 80.39 86.61 15
4 ACPRODUCTS TL B -3.94% 83.54 86.97 10
5 FOREST CITY ENTERPRISES TL B -3.76% 92.44 96.06 10
6 INTERIOR LOGIC TL B -3.62% 88.80 92.13 9
7 LANDESK 2ND LIEN TL -3.39% 81.12 83.96 9
8 ALTICE FINANCING TL B -3.32% 84.86 87.77 9
9 NUMERICABLE TL B11 -3.17% 86.08 88.89 8
10 MULTIPLAN TL B -3.16% 84.15 86.90 11

Avg Bid PX by Sector

Displays the average loan bid price by sector between 5/10/24-5/17/24

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 5/10/24-5/17/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 5/10/24 vs. the week ending 5/17/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 TRANSUNION TL B5 64 88 24 38%
2 API GROUP TL B 6 28 22 367%
3 LS GROUP OPCO ACQUISITION LLC TL B 8 30 22 275%
4 MASMOVIL IBERCOM SA EUR TL B 32 52 20 63%
5 AREAS EUR TL 14 34 20 143%
6 ZEPHYR BIDCO EUR TL B 38 58 20 53%
7 PAYSAFE EUR TL B 50 70 20 40%
8 LANDESK TL B 55 75 20 36%
9 GFI INFORMATIQUE SA EUR TL B 6 26 20 333%
10 VALEO FOODS EUR TL B 26 45 19 73%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 5/10/24-5/17/24

RANK TRANCHE DEALERS
1 TENNECO TL B 20
2 TRANSDIGM INC. TL J 18
3 TRANSDIGM INC. TL I 18
4 ALKEGEN TL B 18
5 DIRECTV TL 18
6 FRONERI TL B 18
7 CDK GLOBAL TL B 17
8 HUB INTL LTD TL B 17
9 BERRY PLASTICS TL 17
10 HILEX POLY TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 5/10/24-5/17/24

Sector Bid-Offer Spread

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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