Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 7/12/24
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 7/12/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Serta Simmons Holdings LLC | Term Loan | 25 | 6/29/2028 | S+750 |
| Bellis Acquisition Company PLC | Term Loan | 770 | 5/30/2029 | SN+675 |
| BMC Software Inc. | Term Loan | 750 | 7/7/2032 | S+600 |
forward calendar
Forward calendar during the week ending 7/12/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Acuren | $725M TL | JEFF,UBS,CITI | Q3 2024 |
| Cloudera | $420M add-on TLB (B2) | JPM,KKR | Q3 2024 |
| High Liner Foods Inc. | $240M TLB (B2/BB-) | BMO,RBC,JPM,CIBC, RBB | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/5/24 – 7/12/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 6,143 | MEDLINE TL B | 0.04% | 100.21 | 100.17 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.17% | 100.48 | 100.30 | 16 |
| 3 | 4,860 | HUB INTL LTD TL B | 0.11% | 100.31 | 100.20 | 16 |
| 4 | 4,750 | ZAYO TL | -0.59% | 86.51 | 87.03 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.00% | 99.82 | 99.82 | 15 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.02% | 100.32 | 100.34 | 17 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.05% | 100.09 | 100.04 | 12 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.07% | 100.14 | 100.08 | 17 |
| 9 | 3,900 | DIRECTV TL | 0.15% | 100.20 | 100.04 | 15 |
| 10 | 3,640 | TRANSDIGM INC. TL J | -0.03% | 100.28 | 100.31 | 13 |
| 11 | 3,573 | CDK GLOBAL TL B | 0.36% | 99.15 | 98.79 | 16 |
| 12 | 3,566 | AIR MEDICAL PIK TL B | 0.82% | 97.44 | 96.65 | 10 |
| 13 | 3,500 | SEDGWICK TL B | 0.17% | 100.11 | 99.94 | 11 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.04% | 103.25 | 103.20 | 13 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.02% | 100.11 | 100.08 | 15 |
| 16 | 3,420 | RCN GRANDE TL | 2.81% | 82.63 | 80.37 | 14 |
| 17 | 3,380 | SOLERA TL B | 0.11% | 100.11 | 100.00 | 16 |
| 18 | 3,340 | PROOFPOINT TL B | 0.24% | 100.35 | 100.11 | 13 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.78% | 96.57 | 95.82 | 11 |
| 20 | 3,250 | CORELOGIC TL B | 0.12% | 98.62 | 98.50 | 11 |
| AVERAGE | 4,022 | 0.27% | 98.33 | 98.09 | 14.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/5/24-7/12/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | IHEART TL B | 3.05% | 81.32 | 78.91 | 11 |
| 2 | VARSITY BRANDS TL B | 2.76% | 103.70 | 100.92 | 6 |
| 3 | CABLEVISION TL B5 | 2.53% | 84.44 | 82.35 | 11 |
| 4 | EW SCRIPPS EXT TL B3 | 2.45% | 86.04 | 83.98 | 10 |
| 5 | TWIN RIVER TL B | 2.31% | 97.19 | 95.00 | 16 |
| 6 | LANDESK TL B | 2.07% | 79.11 | 77.51 | 8 |
| 7 | BEAVST EUR TL B | 1.81% | 94.09 | 92.42 | 10 |
| 8 | COX ENTERPRISES, INC. TL B | 1.60% | 80.17 | 78.90 | 13 |
| 9 | ARTERRA WINES CANANDA TL B1 | 1.32% | 93.15 | 91.94 | 13 |
| 10 | KRATON POLYMERS EUR TL B | 1.22% | 99.48 | 98.29 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/5/24-7/12/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | NUMERICABLE TL B14 | -8.45% | 71.93 | 78.57 | 6 |
| 2 | ACPRODUCTS TL B | -3.92% | 80.01 | 83.27 | 12 |
| 3 | SITEL LLC / SITEL FIN CORP TL B | -2.44% | 73.51 | 75.36 | 12 |
| 4 | BARRACUDA TL | -1.90% | 97.71 | 99.60 | 14 |
| 5 | PIXELLE SPECIALTY SOLUTIONS TL B | -1.83% | 83.52 | 85.08 | 13 |
| 6 | WIDEOPENWEST TL B | -1.83% | 86.64 | 88.26 | 13 |
| 7 | TRINSEO TL B | -1.52% | 77.84 | 79.05 | 11 |
| 8 | LESLIE’S POOLMART TL B | -1.49% | 97.41 | 98.88 | 15 |
| 9 | PRIMESOURCE BUILDING TL B | -1.39% | 96.07 | 97.42 | 11 |
| 10 | PLY GEM TL | -1.34% | 95.99 | 97.29 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/5/24-7/12/24
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 7/5/24-7/12/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/5/24 vs. the week ending 7/12/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | VERITAS US INC TL B | 30 | 76 | 46 | 153% |
| 2 | FIRST EAGLE TL B | 52 | 98 | 46 | 88% |
| 3 | ULTIMATE SOFTWARE TL B | 80 | 124 | 44 | 55% |
| 4 | VERIFONE TL B | 50 | 92 | 42 | 84% |
| 5 | ANCESTRY.COM TL B | 69 | 110 | 41 | 59% |
| 6 | BLOUNT TL B | 50 | 90 | 40 | 80% |
| 7 | TRANSDIGM INC. TL K | 96 | 136 | 40 | 42% |
| 8 | REALPAGE TL B | 55 | 93 | 38 | 69% |
| 9 | EW SCRIPPS EXT TL B3 | 37 | 74 | 37 | 100% |
| 10 | AMERICAN AIRLINES TL B | 64 | 100 | 36 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/5/24-7/12/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL K | 18 |
| 2 | BMC SOFTWARE TL B | 18 |
| 3 | AMWINS TL B | 18 |
| 4 | HILEX POLY TL B | 17 |
| 5 | TRANSDIGM INC. TL I | 17 |
| 6 | GO DADDY TL B7 | 17 |
| 7 | SS&C TECH TL B8 | 17 |
| 8 | BERRY PLASTICS TL Z | 17 |
| 9 | DAVITA TL B | 17 |
| 10 | TENNECO TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/5/24-7/12/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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