Syndicated Bank Loan Market Summary – Week Ending 7/19/24
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Syndicated Bank Loan Market Summary: Week Ending 7/19/24
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 7/19/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Thor Industries Inc. | Term Loan | 350 | 11/8/2030 | S+225 |
| Paragon Films Inc. | Term Loan | 306 | 12/16/2028 | S+425 |
| Greystar Real Estate Partners LLC | Term Loan | 491 | 7/17/2030 | S+275 |
forward calendar
Forward calendar during the week ending 7/19/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Acuren | $725M TL | JEFF,UBS,CITI | Q3 2024 |
| Garda World Security Corp. | $2.322B TLB | JPM | Q3 2024 |
| Wilsonart LLC | $1.06B TLB (B2/B+) | DB,GS | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/12/24 – 7/19/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.02% | 100.19 | 100.21 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.01% | 100.47 | 100.48 | 16 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.03% | 100.28 | 100.31 | 16 |
| 4 | 4,750 | ZAYO TL | -0.28% | 86.27 | 86.51 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.01% | 99.83 | 99.82 | 15 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.03% | 100.29 | 100.32 | 16 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.02% | 100.11 | 100.09 | 12 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.10% | 100.25 | 100.14 | 16 |
| 9 | 3,900 | DIRECTV TL | -0.15% | 100.05 | 100.20 | 15 |
| 10 | 3,640 | TRANSDIGM INC. TL J | -0.02% | 100.26 | 100.28 | 13 |
| 11 | 3,573 | CDK GLOBAL TL B | -0.27% | 98.89 | 99.15 | 15 |
| 12 | 3,566 | AIR MEDICAL PIK TL B | -0.04% | 97.40 | 97.44 | 10 |
| 13 | 3,500 | SEDGWICK TL B | 0.02% | 100.13 | 100.11 | 12 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.06% | 103.31 | 103.25 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.08% | 100.19 | 100.11 | 15 |
| 16 | 3,420 | RCN GRANDE TL | -0.42% | 82.28 | 82.63 | 14 |
| 17 | 3,380 | SOLERA TL B | 0.03% | 100.14 | 100.11 | 16 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.20% | 94.10 | 93.92 | 10 |
| 19 | 3,340 | PROOFPOINT TL B | 0.04% | 100.39 | 100.35 | 12 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.64% | 97.18 | 96.57 | 11 |
| AVERAGE | 4,027 | 0.00% | 98.10 | 98.10 | 14.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/12/24-7/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CORRECT CARE TL B | 3.24% | 63.78 | 61.78 | 9 |
| 2 | EW SCRIPPS EXT TL B3 | 2.60% | 88.28 | 86.04 | 10 |
| 3 | LANDESK TL B | 2.06% | 81.13 | 79.50 | 13 |
| 4 | NEW FORTRESS ENERGY TL B | 1.77% | 98.27 | 96.56 | 11 |
| 5 | IHEART TL B | 1.68% | 82.69 | 81.32 | 10 |
| 6 | COX ENTERPRISES, INC. TL B | 1.65% | 81.49 | 80.17 | 13 |
| 7 | PETCO TL B | 1.13% | 92.65 | 91.62 | 14 |
| 8 | AMC ENTERTAINMENT TL B1 | 1.01% | 95.42 | 94.46 | 15 |
| 9 | THOUGHTWORKS TL | 0.95% | 98.96 | 98.02 | 9 |
| 10 | STAPLES TL B | 0.91% | 92.50 | 91.66 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/12/24-7/19/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SITEL LLC / SITEL FIN CORP TL B | -5.57% | 69.42 | 73.51 | 11 |
| 2 | LESLIE’S POOLMART TL B | -4.84% | 92.70 | 97.41 | 16 |
| 3 | VERACODE TL B | -2.30% | 88.92 | 91.02 | 8 |
| 4 | EIG INVESTORS TL B | -2.29% | 89.12 | 91.21 | 8 |
| 5 | KOFAX TL | -2.29% | 90.18 | 92.29 | 7 |
| 6 | CONAIR HOLDINGS TL | -1.48% | 97.63 | 99.10 | 6 |
| 7 | RV RETAILER TL B | -1.24% | 90.77 | 91.92 | 8 |
| 8 | GRIFOLS WORLDWIDE EUR TL B | -1.20% | 96.29 | 97.46 | 14 |
| 9 | INTERTAPE POLYMER US INC TL | -1.19% | 92.23 | 93.34 | 13 |
| 10 | HARBOR FREIGHT TL B | -1.13% | 98.32 | 99.45 | 14 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/12/24-7/19/24 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 7/12/24-7/19/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/12/24 vs. the week ending 7/19/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | OPEN TEXT CORP TL B | 24 | 70 | 46 | 192% |
| 2 | MOTOR FUEL EUR TL B | 2 | 38 | 36 | 1800% |
| 3 | MOTOR FUEL GBP TL B5 | 6 | 42 | 36 | 600% |
| 4 | AUTODATA TL B | 50 | 82 | 32 | 64% |
| 5 | KIK CUSTOM TL B | 30 | 58 | 28 | 93% |
| 6 | TALEN ENERGY SUPPLY LLC TL B | 30 | 58 | 28 | 93% |
| 7 | STADA ARZNEIMITTEL EUR TL B3 | 28 | 52 | 24 | 86% |
| 8 | THERAMEX EUR TL B | 48 | 71 | 23 | 48% |
| 9 | ZAYO EUR TL | 18 | 40 | 22 | 122% |
| 10 | HELIX GENERATION TL B | 54 | 74 | 20 | 37% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/12/24-7/19/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | AMWINS TL B | 18 |
| 2 | TENNECO TL B | 18 |
| 3 | ALLIANT HLDGS I INC TL B6 | 17 |
| 4 | HILEX POLY TL B | 17 |
| 5 | BMC SOFTWARE TL B | 17 |
| 6 | TRANSDIGM INC. TL K | 17 |
| 7 | DAVITA TL B | 17 |
| 8 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 17 |
| 9 | HUB INTL LTD TL B | 16 |
| 10 | ULTIMATE SOFTWARE TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/12/24-7/19/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
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