Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 8/2/24

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 8/2/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Varsity Brands Inc. Term Loan 2375 7/28/2031 S+425
Allegro Microsystems Inc. Term Loan 400 10/1/2030 S+225

forward calendar

Forward calendar during the week ending 8/2/24

Issuer Deal Information Banks Expected Issue Date
Argus Media 1.097B JPM Q3 2024
Austin Powder 650MM TLB (B1/B+) JPM,CITI,PNC,WFO Q3 2024
CPPIB OVM Member 600MM TLB (B2/B+BB) BARC, JEF Q3 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/26/24 – 8/2/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B -0.03% 100.11 100.15 16
2 5,385 ULTIMATE SOFTWARE TL B -0.31% 100.05 100.35 16
3 5,098 HUB INTL LTD TL B -0.10% 99.93 100.03 12
4 4,860 HUB INTL LTD TL B 14.16% 99.93 87.54 16
5 4,750 ZAYO TL -11.43% 88.35 99.74 16
6 4,741 INTERNET BRANDS TL B -0.68% 99.57 100.24 12
7 4,525 TRANSDIGM INC. TL I -0.09% 100.05 100.14 16
8 4,237 INSPIRE BRANDS TL -0.46% 99.82 100.28 14
9 3,935 SS&C TECH TL B8 0.22% 100.17 99.95 16
10 3,900 DIRECTV TL -0.08% 100.16 100.24 16
11 3,640 TRANSDIGM INC. TL J 1.19% 100.03 98.86 12
12 3,573 CDK GLOBAL TL B 1.95% 98.63 96.74 11
13 3,566 AIR MEDICAL PIK TL B -2.83% 97.36 100.19 11
14 3,500 WESTINGHOUSE TL B -3.17% 99.96 103.23 14
15 3,500 AMERICAN AIRLINES TL B 25.16% 103.16 82.42 14
16 3,420 RCN GRANDE TL -17.72% 82.32 100.05 14
17 3,380 SOLERA TL B 5.99% 99.71 94.08 15
18 3,350 THE NIELSEN COMPANY B.V. TL B -6.40% 93.92 100.34 10
19 3,340 PROOFPOINT TL B 3.46% 99.93 96.58 12
20 3,300 NTL CABLE PLC TL N -2.60% 95.83 98.39 12
AVERAGE 4,107 0.31% 97.95 97.98 13.8

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 7/26/24-8/2/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 NUMERICABLE TL B14 2.73% 76.69 74.65 7
2 CPV SHORE TL B 2.27% 97.87 95.70 4
3 HELP SYSTEMS TL 2.21% 86.84 84.96 8
4 COX ENTERPRISES, INC. TL B 1.53% 84.45 83.17 13
5 BAUSCH HEALTH COMPANIES INC. TL B 1.52% 93.51 92.10 9
6 VERITAS US INC TL B 1.21% 88.16 87.10 13
7 ZAYO TL 1.12% 89.59 88.60 14
8 LEVEL III TL B1 0.92% 98.85 97.95 6
9 IHEART TL B 0.66% 83.76 83.21 8
10 INMARSAT TL B 0.65% 94.82 94.21 5

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/26/24-8/2/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 NTHRIVE TL B -12.03% 65.78 74.78 9
2 MULTIPLAN TL B -10.06% 75.47 83.91 11
3 CISION TL B -4.72% 51.20 53.74 12
4 VERIZON TL B1 -4.44% 80.04 83.75 5
5 VERACODE TL B -2.50% 85.26 87.44 9
6 USIC TL -1.72% 96.01 97.69 9
7 RESTORATION HARDWARE TL B -1.59% 93.60 95.11 7
8 CAMPING WORLD TL B -1.57% 94.75 96.26 11
9 HOUGHTON MIFFLIN TL B -1.16% 93.06 94.15 8
10 POWER BUYER TL -1.10% 99.27 100.37 7

Avg Bid PX by Sector

Displays the average loan bid price by sector between 7/26/24-8/2/24

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 7/26/24-8/2/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 7/26/24 vs. the week ending 8/2/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 AMC ENTERTAINMENT TL 28 54 26 93%
2 REYNOLDS GROUP HOLDINGS LIMITED TL B 2 24 22 1100%
3 BMC SOFTWARE TL 68 88 20 29%
4 TRINSEO TL B 1 20 19 1900%
5 ALLOHEIM EUR TL B 6 24 18 300%
6 CONSTELLATION RENEWABLES TL B 8 26 18 225%
7 WILSONART INTERNATIONAL TL B 10 26 16 160%
8 VET INTERMEDIATE TL B 56 72 16 29%
9 VACO TL B 41 56 15 37%
10 ANCHOR GLASS EXT PIK TL 15 30 15 100%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 7/26/24-8/2/24

RANK TRANCHE DEALERS
1 AMWINS TL B 18
2 TENNECO TL B 18
3 HILEX POLY TL B 18
4 TRANSDIGM INC. TL K 17
5 ALLIANT HLDGS I INC TL B6 17
6 BMC SOFTWARE TL B 17
7 STATION CASINO TL B 16
8 TRANSDIGM INC. TL I 16
9 MEDLINE TL B 16
10 SS&C TECH TL B8 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 7/26/24-8/2/24

Sector Bid-Offer Spread

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

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