Syndicated Bank Loan Market Summary – Week Ending 5/31/24
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Syndicated Bank Loan Market Summary: Week Ending 5/31/24
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 5/31/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Kissner Group Holdings LP | Term Loan | 1540 | 3/16/2027 | S+375 |
| Gates Global LLC | Term Loan | 566 | 11/17/2029 | S+225 |
| SPX Flow Inc. | Term Loan | 1123 | 4/1/2029 | S+350 |
forward calendar
Forward calendar during the week ending 5/31/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Amynta | $1.375B TLB | BofA | Q2 2024 |
| Citco | $1.19B | GS, UBS | Q2 2024 |
| Moneygram International Inc. | $398M TLB | GS | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/24/24 – 5/31/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.02% | 100.65 | 100.63 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.03% | 100.71 | 100.74 | 14 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.06% | 100.63 | 100.69 | 16 |
| 4 | 4,750 | ZAYO TL | 0.00% | 86.52 | 86.53 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.02% | 100.12 | 100.10 | 13 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.03% | 100.40 | 100.37 | 19 |
| 7 | 4,050 | CITRIX TL B | -0.12% | 100.21 | 100.33 | 14 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.05% | 100.41 | 100.35 | 16 |
| 9 | 3,900 | DIRECTV TL | -0.19% | 100.20 | 100.38 | 18 |
| 10 | 3,580 | CDK GLOBAL TL B | 0.06% | 100.83 | 100.77 | 15 |
| 11 | 3,573 | CDK GLOBAL TL B | 0.02% | 100.77 | 100.75 | 12 |
| 12 | 3,564 | MKS INSTRUMENTS TL B | 0.00% | 100.43 | 100.43 | 13 |
| 13 | 3,500 | SEDGWICK TL B | -0.01% | 100.47 | 100.47 | 11 |
| 14 | 3,500 | WESTINGHOUSE TL B | -0.04% | 100.46 | 100.50 | 15 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.45% | 103.74 | 104.20 | 14 |
| 16 | 3,420 | RCN GRANDE TL | 0.15% | 78.66 | 78.55 | 12 |
| 17 | 3,380 | SOLERA TL B | -0.02% | 100.03 | 100.04 | 16 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.17% | 95.88 | 95.72 | 10 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.31% | 97.21 | 97.51 | 13 |
| 20 | 3,242 | GOLDEN NUGGET INC TL B | 0.00% | 100.24 | 100.24 | 11 |
| AVERAGE | 4,010 | -0.04% | 98.43 | 98.47 | 14.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/24/24-5/31/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LUMILEDS EXIT TL | 7.19% | 46.18 | 43.08 | 11 |
| 2 | PARTS AUTHORITY TL | 5.68% | 90.20 | 85.36 | 7 |
| 3 | WESTERN DENTAL TL B | 5.31% | 63.82 | 60.60 | 10 |
| 4 | NUMERICABLE TL B14 | 4.90% | 75.96 | 72.41 | 8 |
| 5 | NATIONAL MENTOR TL B | 2.89% | 95.71 | 93.03 | 10 |
| 6 | GRANITE ACQUISITION TL B | 2.76% | 93.22 | 90.71 | 13 |
| 7 | EOS US FINCO LLC TL B | 2.58% | 78.29 | 76.32 | 11 |
| 8 | IHEART TL B | 2.37% | 77.62 | 75.83 | 8 |
| 9 | HOMEVI EUR TL B | 1.81% | 94.76 | 93.07 | 12 |
| 10 | MAGENTA BUYER LLC TL | 1.59% | 59.98 | 59.04 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/24/24-5/31/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | AMERICAN TIRE TL B | -8.21% | 74.83 | 81.53 | 13 |
| 2 | SINCLAIR BROADCAST GROUP INC. TL B3 | -6.60% | 71.23 | 76.27 | 10 |
| 3 | LASERSHIP 2ND LIEN TL | -6.44% | 77.33 | 82.65 | 8 |
| 4 | ORBCOMM TL | -5.46% | 86.13 | 91.10 | 8 |
| 5 | ALLEN MEDIA TL B | -3.84% | 83.56 | 86.90 | 7 |
| 6 | COX ENTERPRISES, INC. TL B | -3.34% | 79.06 | 81.79 | 13 |
| 7 | EW SCRIPPS EXT TL B3 | -2.49% | 88.71 | 90.97 | 11 |
| 8 | VIASAT INC TL B | -2.15% | 91.35 | 93.36 | 6 |
| 9 | RACKSPACE HOSTING TL B | -1.93% | 44.40 | 45.28 | 6 |
| 10 | PATHWAY PARTNERS VET MANAGEMENT TL | -1.85% | 78.40 | 79.87 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/24/24-5/31/24 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 5/24/24-5/31/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/24/24 vs. the week ending 5/31/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | REYNOLDS GROUP HOLDINGS LIMITED TL B | 15 | 34 | 19 | 127% |
| 2 | THILEA TL B | 24 | 42 | 18 | 75% |
| 3 | ADVANTAGE SALES TL B | 36 | 54 | 18 | 50% |
| 4 | TIBCO EUR TL B | 6 | 24 | 18 | 300% |
| 5 | PROOFPOINT TL B | 18 | 34 | 16 | 89% |
| 6 | WHATABURGER TL B | 54 | 70 | 16 | 30% |
| 7 | ALTICE FINANCING SA EUR TL B | 6 | 22 | 16 | 267% |
| 8 | PATAGONIA HOLDCO TL B | 10 | 24 | 14 | 140% |
| 9 | CLOUD SOFTWARE GROUP INC TL B | 4 | 18 | 14 | 350% |
| 10 | INTRAWEST TL B | 4 | 16 | 12 | 300% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/24/24-5/31/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TENNECO TL B | 20 |
| 2 | TRANSDIGM INC. TL I | 19 |
| 3 | FRONERI TL B | 19 |
| 4 | TRANSDIGM INC. TL J | 19 |
| 5 | GRAHAM PACKAGING TL B | 18 |
| 6 | PETCO TL B | 18 |
| 7 | HILEX POLY TL B | 18 |
| 8 | DIRECTV TL | 18 |
| 9 | AMWINS TL B | 17 |
| 10 | GATES GLOBAL TL B3 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/24/24-5/31/24
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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