Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 6/28/24

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 6/28/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Mermaid Bidco Inc. Term Loan 340 6/21/2031 E+375
Solarwinds Inc. Term Loan 1236 2/1/2030 S+275
Carroll County Energy LLC Term Loan 425 6/11/2031 S+400

forward calendar

Forward calendar during the week ending 6/28/24

Issuer Deal Information Banks Expected Issue Date
Atlas Air $992M TLB GS Q3 2024
Datasite $665M TLB GS,BofA Q3 2024
Ensemble $814M TL (B2/B) GS Q3 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/21/24 – 6/28/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B 0.04% 100.16 100.12 16
2 5,385 ULTIMATE SOFTWARE TL B 0.11% 100.35 100.24 15
3 5,160 MCAFEE CORP TL -0.02% 99.78 99.80 11
4 4,860 HUB INTL LTD TL B 0.17% 100.23 100.07 17
5 4,750 ZAYO TL 0.31% 86.82 86.55 15
6 4,741 INTERNET BRANDS TL B 0.08% 99.88 99.80 14
7 4,525 TRANSDIGM INC. TL I 0.19% 100.16 99.97 17
8 4,237 INSPIRE BRANDS TL 0.06% 99.89 99.83 13
9 3,935 SS&C TECH TL B8 0.03% 100.11 100.08 16
10 3,900 DIRECTV TL -0.03% 99.95 99.98 17
11 3,640 TRANSDIGM INC. TL J 0.30% 100.22 99.92 13
12 3,573 CDK GLOBAL TL B -0.18% 98.47 98.65 16
13 3,564 MKS INSTRUMENTS TL B 0.02% 99.97 99.95 10
14 3,500 SEDGWICK TL B -0.25% 99.95 100.20 12
15 3,500 AMERICAN AIRLINES TL B -0.12% 103.17 103.29 13
16 3,500 WESTINGHOUSE TL B 0.07% 100.03 99.96 15
17 3,420 RCN GRANDE TL 0.50% 80.61 80.21 12
18 3,380 SOLERA TL B 0.12% 99.93 99.82 15
19 3,350 THE NIELSEN COMPANY B.V. TL B -0.70% 94.44 95.11 10
20 3,340 PROOFPOINT TL B 0.10% 100.06 99.95 12
AVERAGE 4,120 0.04% 98.21 98.17 14.0

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 6/21/24-6/28/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 MULTIPLAN TL B 5.76% 83.04 78.52 12
2 RESEARCH NOW TL 3.44% 74.88 72.39 11
3 UPSTREAM REHABILITATION TL 2.31% 90.33 88.29 10
4 VERIFONE TL B 1.88% 81.83 80.32 18
5 HERTZ EXIT TL C 1.87% 90.09 88.44 4
6 AMC ENTERTAINMENT TL B1 1.68% 94.62 93.06 15
7 COX ENTERPRISES, INC. TL B 1.30% 79.34 78.31 13
8 ADVANTAGE SALES TL B 1.03% 97.23 96.23 10
9 WASTEQUIP TL B 0.73% 97.36 96.66 7
10 RESTORATION HARDWARE TL B 0.65% 96.15 95.53 7

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/21/24-6/28/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 PACKERS HOLDINGS TL -7.23% 53.29 57.44 7
2 CORRECT CARE TL B -5.24% 62.82 66.29 9
3 LANDESK TL B -3.75% 78.45 81.51 12
4 CARESTREAM HEALTH TL B -3.74% 88.02 91.44 6
5 VERACODE TL B -3.65% 92.49 96.00 8
6 NUMERICABLE TL B12 -3.34% 78.53 81.25 5
7 MAGENTA BUYER LLC TL -3.05% 57.29 59.09 8
8 LIFESCAN TL B -3.01% 45.69 47.11 6
9 MEDICAL SOLUTIONS TL -2.27% 74.61 76.34 10
10 CABLEVISION TL B5 -2.05% 82.93 84.67 13

Avg Bid PX by Sector

Displays the average loan bid price by sector between 6/21/24-6/28/24

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 6/21/24-6/28/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 6/21/24 vs. the week ending 6/28/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 ENTEGRIS TL B 34 86 52 153%
2 TRANSDIGM INC. TL K 90 138 48 53%
3 TELENET TL 48 90 42 88%
4 BERLIN PACKAGING TL B7 68 106 38 56%
5 TRANSDIGM INC. TL I 94 130 36 38%
6 DAVITA TL B 72 105 33 46%
7 ZELIS / REDCARD TL B 67 100 33 49%
8 BUCKEYE TL B3 55 88 33 60%
9 IRIDIUM SATELLITE TL B 29 62 33 114%
10 UPC HOLDING BV TL 45 78 33 73%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 6/21/24-6/28/24

RANK TRANCHE DEALERS
1 VERIFONE TL B 18
2 TRANSDIGM INC. TL K 18
3 TENNECO TL B 18
4 BMC SOFTWARE TL B 17
5 HUB INTL LTD TL B 17
6 TRANSDIGM INC. TL I 17
7 HILEX POLY TL B 17
8 BERRY PLASTICS TL 17
9 DAVITA TL B 17
10 FRONERI TL B 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 6/21/24-6/28/24

Sector Bid-Offer Spread

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

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