Syndicated Bank Loan Market Summary – Week Ending 8/9/24
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Syndicated Bank Loan Market Summary: Week Ending 8/9/24
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 8/9/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Walgreens Boots Alliance Inc. | 1000 | Delayed-draw Term Loan | 8/9/2026 | S+150 |
| KBR Inc. | 998 | Term Loan | 1/19/2031 | S+200 |
| CPV Fairview LLC | 550 | Term Loan | 8/14/2031 | S+350 |
forward calendar
Forward calendar during the week ending 8/9/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Acosta Inc. | $500MM TLB | KEY,BofA,CO,FT,HSBC | Q3 2024 |
| Rough Country | $670.5MM | GLB | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/2/24 – 8/9/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.11% | 100.00 | 100.11 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.19% | 99.86 | 100.05 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.03% | 99.91 | 99.93 | 15 |
| 4 | 4,860 | HUB INTL LTD TL B | 0.07% | 100.00 | 99.93 | 16 |
| 5 | 4,750 | ZAYO TL | 1.74% | 89.88 | 88.35 | 17 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.22% | 99.35 | 99.57 | 12 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.09% | 100.14 | 100.05 | 16 |
| 8 | 4,237 | INSPIRE BRANDS TL | 0.01% | 99.83 | 99.82 | 14 |
| 9 | 3,935 | SS&C TECH TL B8 | -0.07% | 100.11 | 100.17 | 15 |
| 10 | 3,900 | DIRECTV TL | -0.01% | 100.15 | 100.16 | 16 |
| 11 | 3,640 | TRANSDIGM INC. TL J | -0.16% | 99.87 | 100.03 | 13 |
| 12 | 3,573 | CDK GLOBAL TL B | 0.19% | 98.82 | 98.63 | 11 |
| 13 | 3,566 | AIR MEDICAL PIK TL B | 0.12% | 97.48 | 97.36 | 10 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.08% | 103.24 | 103.16 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | -0.02% | 99.95 | 99.96 | 14 |
| 16 | 3,420 | RCN GRANDE TL | 0.19% | 82.47 | 82.32 | 14 |
| 17 | 3,380 | SOLERA TL B | -0.27% | 99.45 | 99.71 | 15 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -1.13% | 92.86 | 93.92 | 11 |
| 19 | 3,340 | PROOFPOINT TL B | -0.10% | 99.83 | 99.93 | 11 |
| 20 | 3,300 | NTL CABLE PLC TL N | -0.03% | 95.80 | 95.83 | 12 |
| AVERAGE | 4,107 | 0.01% | 97.95 | 97.95 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/2/24-8/9/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | VERIZON TL B1 | 9.59% | 87.71 | 80.04 | 5 |
| 2 | ESSENTIAL POWER TL B | 7.38% | 98.75 | 91.97 | 8 |
| 3 | OMNI LOGISTICS TL B | 3.70% | 95.13 | 91.74 | 11 |
| 4 | VERITAS US INC EUR TL B | 2.28% | 87.66 | 85.70 | 11 |
| 5 | ZAYO TL | 1.74% | 89.88 | 88.35 | 17 |
| 6 | CSC SERVICEWORKS INC TL | 1.64% | 82.94 | 81.60 | 15 |
| 7 | EPIC HEALTH TL B | 1.43% | 96.71 | 95.35 | 9 |
| 8 | LESLIE’S POOLMART TL B | 1.20% | 93.98 | 92.87 | 16 |
| 9 | INMARSAT TL B | 1.01% | 95.78 | 94.82 | 5 |
| 10 | LEVEL III TL B1 | 0.64% | 99.48 | 98.85 | 7 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/2/24-8/9/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | DELL SOFTWARE GROUP 2ND LIEN TL | -6.37% | 43.85 | 46.83 | 9 |
| 2 | SECURUS TL | -5.51% | 73.17 | 77.44 | 5 |
| 3 | ASTRA ACQUISITION CORP TL B | -4.04% | 28.12 | 29.30 | 4 |
| 4 | TOSCA SERVICES TL | -3.73% | 82.93 | 86.13 | 11 |
| 5 | ANCHOR GLASS EXT PIK TL | -3.43% | 74.77 | 77.43 | 7 |
| 6 | NEW FORTRESS ENERGY TL B | -3.02% | 95.08 | 98.04 | 11 |
| 7 | EW SCRIPPS EXT TL B3 | -2.97% | 85.69 | 88.31 | 11 |
| 8 | SYNCSORT 2ND LIEN TL | -2.76% | 90.92 | 93.50 | 5 |
| 9 | ACPRODUCTS TL B | -2.75% | 77.02 | 79.20 | 11 |
| 10 | KOFAX TL | -2.43% | 86.32 | 88.47 | 7 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/2/24-8/9/24 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 8/2/24-8/9/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/2/24 vs. the week ending 8/9/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TECHEM EUR TL B5 | 44 | 72 | 28 | 64% |
| 2 | THERAMEX EUR TL B | 32 | 58 | 26 | 81% |
| 3 | RACKSPACE HOSTING TL B | 10 | 36 | 26 | 260% |
| 4 | MARLINK DD TL | 6 | 32 | 26 | 433% |
| 5 | HUB INTL LTD TL B | 50 | 74 | 24 | 48% |
| 6 | GVC HOLDINGS TL B | 26 | 50 | 24 | 92% |
| 7 | NOBIAN EUR TL B | 32 | 56 | 24 | 75% |
| 8 | LABORATORIOS EUR TL B1 | 22 | 44 | 22 | 100% |
| 9 | ELSAN GROUPE EXT EUR TL B5 | 58 | 80 | 22 | 38% |
| 10 | CEVA SANTE ANIMALE EUR TL B | 56 | 78 | 22 | 39% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/2/24-8/9/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TENNECO TL B | 18 |
| 2 | TRANSDIGM INC. TL K | 18 |
| 3 | ZAYO TL | 17 |
| 4 | AMWINS TL B | 17 |
| 5 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 17 |
| 6 | HILEX POLY TL B | 17 |
| 7 | BERRY PLASTICS TL | 16 |
| 8 | HUB INTL LTD TL B | 16 |
| 9 | ALLIANT HLDGS I INC TL B6 | 16 |
| 10 | CEVA SANTE ANIMALE EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/2/24-8/9/24
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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