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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