Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 7/5/24

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 7/5/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Darktrace PLC Term Loan 1735 6/13/2031 S+325
AutoData Term Loan 350 6/24/2032 S+525
Waterbridge Operating LLC Term Loan 1150 6/30/2029 S+500

forward calendar

Forward calendar during the week ending 7/5/24

Issuer Deal Information Banks Expected Issue Date
BMC Software $6.65B TLs GS,KKR Q3 2024
Matador Bidco $710M TLB (/B+/BB) HSBC Q3 2024
Upfield $1.308B TLB7 KKR,BNP,CITI,GS,HSBC Q3 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/28/24 – 7/5/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B 0.01% 100.17 100.16 16
2 5,385 ULTIMATE SOFTWARE TL B -0.04% 100.30 100.35 16
3 4,860 HUB INTL LTD TL B -0.03% 100.20 100.23 17
4 4,750 ZAYO TL 0.24% 87.03 86.82 15
5 4,741 INTERNET BRANDS TL B -0.06% 99.82 99.88 15
6 4,525 TRANSDIGM INC. TL I 0.18% 100.34 100.16 17
7 4,237 INSPIRE BRANDS TL 0.15% 100.04 99.89 12
8 4,050 CITRIX TL B -0.16% 99.95 100.11 10
9 3,935 SS&C TECH TL B8 -0.03% 100.08 100.11 17
10 3,900 DIRECTV TL 0.09% 100.04 99.95 16
11 3,640 TRANSDIGM INC. TL J 0.09% 100.31 100.22 13
12 3,573 CDK GLOBAL TL B 0.33% 98.79 98.47 16
13 3,566 AIR MEDICAL PIK TL B -0.04% 96.65 96.69 10
14 3,564 MKS INSTRUMENTS TL B 0.02% 100.00 99.97 10
15 3,500 AMERICAN AIRLINES TL B 0.03% 103.20 103.17 13
16 3,500 WESTINGHOUSE TL B 0.06% 100.08 100.03 15
17 3,500 SEDGWICK TL B 0.00% 99.94 99.95 11
18 3,420 RCN GRANDE TL -0.30% 80.37 80.61 12
19 3,380 SOLERA TL B 0.06% 100.00 99.93 16
20 3,350 THE NIELSEN COMPANY B.V. TL B -0.41% 94.05 94.44 10
AVERAGE 4,076 0.01% 98.07 98.06 13.9

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 6/28/24-7/5/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 WORLDWIDE EXPRESS 2ND LIEN TL 2.78% 97.35 94.71 3
2 KLOECKNER EUR TL B 2.64% 91.64 89.28 15
3 IHEART TL B 2.27% 78.91 77.16 12
4 BEAVST EUR TL B 1.39% 92.42 91.15 10
5 BOYD CORP TL B 1.23% 99.64 98.43 9
6 SOLERA EUR TL B 1.18% 98.45 97.30 11
7 US ANESTHESIA TL B 0.68% 96.44 95.79 13
8 SINCLAIR BROADCAST GROUP INC. TL B3 0.62% 70.02 69.59 12
9 GRIFOLS WORLDWIDE TL B 0.52% 98.88 98.36 13
10 ATLANTIC BROADBAND TL B 0.51% 96.75 96.26 6

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/28/24-7/5/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 GLOBAL TELESYSTEMS TL -5.62% 92.42 97.92 10
2 NTHRIVE TL B -3.52% 78.21 81.06 7
3 EAGLEVIEW TL B -2.40% 94.22 96.53 10
4 SITEL LLC / SITEL FIN CORP TL B -2.20% 75.36 77.05 12
5 CORRECT CARE TL B -2.08% 61.51 62.82 9
6 TRINSEO TL B -1.47% 79.05 80.23 11
7 WIDEOPENWEST TL B -1.29% 88.26 89.41 13
8 ACPRODUCTS TL B -1.28% 83.27 84.35 11
9 EIG INVESTORS TL B -1.02% 91.76 92.70 9
10 COLISEE PATRIMOINE EUR TL B -0.88% 95.01 95.86 13

Avg Bid PX by Sector

Displays the average loan bid price by sector between 6/28/24-7/5/24

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 6/28/24-7/5/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 6/28/24 vs. the week ending 7/5/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 PAYSAFE EUR TL B 38 62 24 63%
2 UTZ QUALITY FOODS TL 34 57 23 68%
3 URBASER EUR TL B 33 55 22 67%
4 CORIALIS GBP TL B 26 46 20 77%
5 VIVALTO SANTE SAS EUR TL B 24 44 20 83%
6 BROOM HOLDINGS EUR TL B 34 54 20 59%
7 VEONET EUR TL B 34 54 20 59%
8 BUSY BEES EUR TL B 34 54 20 59%
9 BUSY BEES GBP TL B 18 38 20 111%
10 ORGANON EUR TL B 32 52 20 63%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 6/28/24-7/5/24

RANK TRANCHE DEALERS
1 VERIFONE TL B 19
2 TENNECO TL B 18
3 TRANSDIGM INC. TL K 18
4 AMWINS TL B 18
5 BERRY PLASTICS TL Z 18
6 BMC SOFTWARE TL B 18
7 GO DADDY TL B7 17
8 TRANSDIGM INC. TL I 17
9 SS&C TECH TL B8 17
10 REYNOLDS GROUP HOLDINGS LIMITED TL B3 17

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 6/28/24-7/5/24

Sector Bid-Offer Spread

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

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