Syndicated Bank Loans

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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

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