Syndicated Bank Loan Market Summary – Week Ending 5/24/24
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Syndicated Bank Loan Market Summary: Week Ending 5/24/24
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 5/24/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Wyndham Hotels & Resorts Inc. | 1535 | Term Loan | 5/25/2030 | S+175 |
| Qualtrics Intl. | 1369 | Term Loan | 6/1/2030 | S+275 |
| Reynolds Group Hldgs Inc. | 1330 | Term Loan | 9/24/2028 | S+250 |
| Learning Care Group Inc. | 896 | Term Loan | 8/1/2028 | S+400 |
| MAXIMUS Inc. | 500 | Term Loan | 5/10/2031 | S+200 |
forward calendar
Forward calendar during the week ending 5/24/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| 84 Lumber Co | $449M TLB (BB) | WF | Q2 2024 |
| Adt Inc. (Prime Security Services Borrower LlC) | $607M TLB | DB,Citi | Q2 2024 |
| Allwyn International | $450M TLB (BB/BB-) | BNP,MS,Citi,BARC,Erste,GS,JPM,MUFG,NatWest,RBI,SocGen | Q2 2024 |
| Altafiber | $300M TLB2 (B1) | GS,Regions,SocGen,CoBank,MUFG | Q2 2024 |
| Celestica Inc | $500 TLB (Ba1/BB) | BofA | Q2 2024 |
| Epicor Software Corp | $3.095B TL (B2/B-) | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/17/24 – 5/24/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.03% | 100.63 | 100.67 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.03% | 100.74 | 100.77 | 14 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.07% | 100.69 | 100.76 | 17 |
| 4 | 4,750 | ZAYO TL | 3.40% | 86.53 | 83.68 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.01% | 100.10 | 100.09 | 13 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.21% | 100.37 | 100.58 | 19 |
| 7 | 4,050 | CITRIX TL B | -0.01% | 100.33 | 100.34 | 14 |
| 8 | 3,935 | SS&C TECH TL B8 | -0.03% | 100.35 | 100.39 | 15 |
| 9 | 3,900 | DIRECTV TL | -0.12% | 100.38 | 100.51 | 18 |
| 10 | 3,580 | CDK GLOBAL TL B | 0.07% | 100.77 | 100.70 | 17 |
| 11 | 3,573 | CDK GLOBAL TL B | 0.11% | 100.75 | 100.64 | 12 |
| 12 | 3,564 | MKS INSTRUMENTS TL B | 0.19% | 100.43 | 100.24 | 13 |
| 13 | 3,500 | SEDGWICK TL B | -0.02% | 100.47 | 100.49 | 11 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.02% | 104.20 | 104.23 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | -0.01% | 100.50 | 100.52 | 15 |
| 16 | 3,420 | RCN GRANDE TL | 0.06% | 78.55 | 78.50 | 12 |
| 17 | 3,380 | SOLERA TL B | -0.01% | 100.04 | 100.05 | 16 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.09% | 95.72 | 95.63 | 11 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.72% | 97.51 | 98.22 | 13 |
| 20 | 3,250 | CORELOGIC TL B | 0.12% | 98.63 | 98.51 | 10 |
| AVERAGE | 4,010 | 0.14% | 98.39 | 98.28 | 14.3 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/17/24-5/24/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RESEARCH NOW TL | 17.28% | 74.99 | 63.94 | 12 |
| 2 | PETCO TL B | 8.16% | 89.87 | 83.10 | 15 |
| 3 | SITEL LLC / SITEL FIN CORP TL B | 4.50% | 78.25 | 74.88 | 12 |
| 4 | LIFESCAN TL B | 3.45% | 44.88 | 43.38 | 8 |
| 5 | ZAYO TL B | 3.24% | 87.05 | 84.32 | 3 |
| 6 | THE NIELSEN COMPANY B.V. TL A | 2.64% | 98.23 | 95.70 | 10 |
| 7 | HOMEVI EUR TL B | 2.14% | 92.76 | 90.82 | 12 |
| 8 | HEARTHSIDE FOODS TL B | 1.80% | 69.53 | 68.30 | 13 |
| 9 | COMMSCOPE TL B2 | 1.79% | 89.77 | 88.19 | 9 |
| 10 | ACCELERATED HEALTH SYSTEMS LLC TL B | 1.58% | 83.24 | 81.94 | 8 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/17/24-5/24/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | IHEART TL B | -6.62% | 75.83 | 81.21 | 8 |
| 2 | SELECT STAFFING TL B | -4.54% | 71.89 | 75.30 | 12 |
| 3 | FIVE STAR BANK TL | -4.39% | 91.77 | 95.99 | 5 |
| 4 | VIASAT INC TL B | -3.75% | 93.36 | 97.00 | 6 |
| 5 | INMARSAT TL B | -3.38% | 95.51 | 98.85 | 6 |
| 6 | WEIGHT WATCHERS TL B | -3.08% | 47.70 | 49.22 | 12 |
| 7 | BLOUNT TL B | -2.62% | 78.29 | 80.39 | 15 |
| 8 | CORRECT CARE TL B | -2.59% | 68.42 | 70.24 | 10 |
| 9 | MEDICAL SOLUTIONS TL | -2.34% | 82.28 | 84.24 | 9 |
| 10 | CABLEVISION TL B5 | -2.09% | 79.58 | 81.28 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/17/24-5/24/24 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 5/17/24-5/24/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/17/24 vs. the week ending 5/24/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CDK GLOBAL TL B | 38 | 78 | 40 | 105% |
| 2 | BROADSTREET PARTNERS TL B4 | 24 | 48 | 24 | 100% |
| 3 | INTERNATIONAL TEXTILE GROUP FLLO | 10 | 34 | 24 | 240% |
| 4 | ADCO GLOBAL EUR TL B5 | 2 | 24 | 22 | 1100% |
| 5 | BEAVST EUR TL B | 20 | 42 | 22 | 110% |
| 6 | LES SCHWAB TIRE TL B | 0 | 20 | 20 | NA |
| 7 | WARNER MUSIC TL B | 24 | 44 | 20 | 83% |
| 8 | CREATIVE ARTISTS TL B | 0 | 18 | 18 | NA |
| 9 | PETCO TL B | 80 | 98 | 18 | 23% |
| 10 | TRICO PRODUCTS TL B | 46 | 64 | 18 | 39% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/17/24-5/24/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TENNECO TL B | 20 |
| 2 | TRANSDIGM INC. TL J | 19 |
| 3 | TRANSDIGM INC. TL I | 19 |
| 4 | HYPERION TL B | 18 |
| 5 | ALKEGEN TL B | 18 |
| 6 | DIRECTV TL | 18 |
| 7 | FRONERI TL B | 18 |
| 8 | HUB INTL LTD TL B | 17 |
| 9 | HILEX POLY TL B | 17 |
| 10 | CDK GLOBAL TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/17/24-5/24/24
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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