Syndicated Bank Loan Market Summary – Week Ending 6/7/24
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Syndicated Bank Loan Market Summary: Week Ending 6/7/24
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 6/7/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Derby Buyer LLC | Term Loan | 700 | 11/1/2030 | S+350 |
| Priority Payment Systems Hldgs LLC | Term Loan | 835 | 5/7/2031 | S+475 |
| White Cap Supply Hldg, Inc. | Term Loan | 2254 | 10/1/2029 | S+325 |
forward calendar
Forward calendar during the week ending 6/7/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ankura Consulting Group | $175M TL | DB | Q2 2024 |
| Charter Next Generation Inc. | $2.31B TLB | KKR | Q2 2024 |
| Sabert Corp. | $435M TLB (B2) | JPM | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/31/24 – 6/7/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.22% | 100.43 | 100.65 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.01% | 100.70 | 100.71 | 15 |
| 3 | 5,160 | MCAFEE CORP TL | 0.03% | 99.91 | 99.88 | 11 |
| 4 | 4,860 | HUB INTL LTD TL B | -0.03% | 100.59 | 100.63 | 17 |
| 5 | 4,750 | ZAYO TL | 1.07% | 87.45 | 86.52 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.10% | 100.22 | 100.12 | 12 |
| 7 | 4,525 | TRANSDIGM INC. TL I | -0.02% | 100.39 | 100.40 | 20 |
| 8 | 4,237 | INSPIRE BRANDS TL | -0.07% | 100.27 | 100.34 | 11 |
| 9 | 4,050 | CITRIX TL B | 0.31% | 100.53 | 100.21 | 12 |
| 10 | 3,935 | SS&C TECH TL B8 | -0.03% | 100.38 | 100.41 | 16 |
| 11 | 3,900 | DIRECTV TL | -0.09% | 100.11 | 100.20 | 17 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.05% | 100.37 | 100.42 | 10 |
| 13 | 3,580 | CDK GLOBAL TL B | 0.00% | 100.83 | 100.83 | 12 |
| 14 | 3,573 | CDK GLOBAL TL B | 0.01% | 100.78 | 100.77 | 13 |
| 15 | 3,564 | MKS INSTRUMENTS TL B | 0.03% | 100.46 | 100.43 | 13 |
| 16 | 3,500 | WESTINGHOUSE TL B | -0.04% | 100.42 | 100.46 | 14 |
| 17 | 3,500 | SEDGWICK TL B | 0.03% | 100.49 | 100.47 | 11 |
| 18 | 3,500 | AMERICAN AIRLINES TL B | -0.10% | 103.64 | 103.74 | 13 |
| 19 | 3,420 | RCN GRANDE TL | 1.55% | 79.88 | 78.66 | 14 |
| 20 | 3,380 | SOLERA TL B | 0.04% | 100.07 | 100.03 | 15 |
| AVERAGE | 4,167 | 0.12% | 98.89 | 98.79 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/31/24-6/7/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CABLEVISION TL B5 | 7.00% | 84.38 | 78.86 | 11 |
| 2 | MAGENTA BUYER LLC 2ND LIEN TL | 6.52% | 31.93 | 29.98 | 10 |
| 3 | DELL SOFTWARE GROUP 2ND LIEN TL | 6.35% | 49.48 | 46.52 | 9 |
| 4 | RSA SECURITY LLC TL B | 4.48% | 90.00 | 86.15 | 9 |
| 5 | AMC ENTERTAINMENT TL B1 | 3.99% | 93.38 | 89.80 | 15 |
| 6 | ARTERRA WINES CANANDA TL B1 | 3.68% | 92.50 | 89.22 | 13 |
| 7 | POWER STOP TL B | 3.54% | 97.76 | 94.42 | 4 |
| 8 | SHUTTERFLY 2ND LIEN TL | 3.10% | 85.42 | 82.85 | 6 |
| 9 | PIXELLE SPECIALTY SOLUTIONS TL B | 3.01% | 84.75 | 82.27 | 13 |
| 10 | CORELOGIC 2ND LIEN TL | 2.98% | 96.22 | 93.44 | 7 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/31/24-6/7/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | NUTRISYSTEM TL B | -24.86% | 63.55 | 84.58 | 10 |
| 2 | BLOUNT TL B | -5.81% | 73.81 | 78.36 | 14 |
| 3 | COMMERCEHUB 2ND LIEN TL B | -5.45% | 79.94 | 84.55 | 6 |
| 4 | CBS RADIO INC TL B | -4.64% | 50.97 | 53.45 | 8 |
| 5 | VERIFONE TL B | -4.52% | 82.87 | 86.79 | 15 |
| 6 | CUBIC CORP TL B | -3.62% | 83.58 | 86.72 | 11 |
| 7 | MULTIPLAN TL B | -2.51% | 81.53 | 83.63 | 12 |
| 8 | EW SCRIPPS TL B2 | -2.17% | 95.98 | 98.12 | 12 |
| 9 | AMERICAN TIRE TL B | -1.72% | 73.55 | 74.83 | 13 |
| 10 | BAUSCH HEALTH COMPANIES INC. TL B | -1.49% | 88.66 | 90.00 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/31/24-6/7/24 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 5/31/24-6/7/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/31/24 vs. the week ending 6/7/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GO DADDY TL B7 | 50 | 110 | 60 | 120% |
| 2 | TRANSDIGM INC. TL J | 8 | 67 | 59 | 738% |
| 3 | GATES GLOBAL TL B4 | 25 | 80 | 55 | 220% |
| 4 | GATES GLOBAL TL B5 | 30 | 80 | 50 | 167% |
| 5 | TRONOX PIGMENTS TL B | 28 | 78 | 50 | 179% |
| 6 | AUTHENTIC BRANDS TL B1 | 6 | 54 | 48 | 800% |
| 7 | INNOVATIVE XCESSORIES TL | 28 | 75 | 47 | 168% |
| 8 | PROOFPOINT TL B | 34 | 77 | 43 | 126% |
| 9 | ALLIANT HLDGS I INC TL B6 | 80 | 122 | 42 | 53% |
| 10 | DAE AVIATION TL B | 50 | 92 | 42 | 84% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/31/24-6/7/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 20 |
| 2 | TENNECO TL B | 19 |
| 3 | PETCO TL B | 19 |
| 4 | TRANSDIGM INC. TL K | 18 |
| 5 | TRANSDIGM INC. TL J | 18 |
| 6 | BERRY PLASTICS TL | 17 |
| 7 | BMC SOFTWARE TL B | 17 |
| 8 | HUB INTL LTD TL B | 17 |
| 9 | HILEX POLY TL B | 17 |
| 10 | ALKEGEN TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/31/24-6/7/24
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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