Syndicated Bank Loan Market Summary – Week Ending 8/16/24
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Syndicated Bank Loan Market Summary: Week Ending 8/16/24
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 8/16/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Summit Materials LLC | 1007 | Term Loan | 1/12/2029 | S+172 |
| Midcontinent Communications | 650 | Term Loan | 7/31/2031 | S+250 |
| Arcosa Inc. | 700 | Term Loan | 8/6/2031 | S+225 |
forward calendar
Forward calendar during the week ending 8/16/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Acosta Inc. | $500MM TLB | KEY,BofA,CO,FT,HSBC | Q3 2024 |
| Bally’s Corp. | $500MM TLB | Q3 2024 | |
| Likewise Corp. | $600MM TLB | JEFF,BCLY,BofA,CITI,SMBC | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/9/24 – 8/16/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.21% | 100.21 | 100.00 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.12% | 99.98 | 99.86 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.03% | 99.88 | 99.91 | 15 |
| 4 | 4,860 | HUB INTL LTD TL B | -0.12% | 99.88 | 100.00 | 15 |
| 5 | 4,750 | ZAYO TL | 1.78% | 91.48 | 89.88 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.09% | 99.44 | 99.35 | 11 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.17% | 100.31 | 100.14 | 16 |
| 8 | 4,237 | INSPIRE BRANDS TL | 0.14% | 99.97 | 99.83 | 14 |
| 9 | 3,935 | SS&C TECH TL B8 | 0.05% | 100.16 | 100.11 | 15 |
| 10 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.35% | 100.50 | 100.15 | 16 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.09% | 99.96 | 99.87 | 15 |
| 12 | 3,573 | CDK GLOBAL TL B | 0.09% | 98.91 | 98.82 | 10 |
| 13 | 3,566 | AIR MEDICAL PIK TL B | 1.43% | 98.87 | 97.48 | 10 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.40% | 103.65 | 103.24 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.02% | 99.96 | 99.95 | 14 |
| 16 | 3,420 | RCN GRANDE TL | -1.10% | 81.56 | 82.47 | 14 |
| 17 | 3,380 | SOLERA TL B | -0.04% | 99.40 | 99.45 | 16 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.40% | 93.23 | 92.86 | 10 |
| 19 | 3,340 | PROOFPOINT TL B | 0.13% | 99.96 | 99.83 | 11 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.29% | 96.08 | 95.80 | 12 |
| AVERAGE | 4,107 | 0.22% | 98.17 | 97.95 | 13.8 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/9/24-8/16/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | VERIFONE TL B | 4.83% | 89.74 | 85.60 | 14 |
| 2 | PRIMESOURCE BUILDING TL B | 2.77% | 96.92 | 94.31 | 10 |
| 3 | VERACODE TL B | 2.35% | 86.86 | 84.87 | 9 |
| 4 | ZAYO TL | 1.78% | 91.48 | 89.88 | 16 |
| 5 | SYNCSORT TL | 1.78% | 97.02 | 95.33 | 9 |
| 6 | AIR MEDICAL PIK TL B | 1.43% | 98.87 | 97.48 | 10 |
| 7 | EMBECTA TL B | 1.32% | 97.04 | 95.77 | 11 |
| 8 | OMNI LOGISTICS TL B | 1.23% | 96.30 | 95.13 | 12 |
| 9 | VERITAS US INC TL B | 1.06% | 90.39 | 89.45 | 14 |
| 10 | HEXION INC TL B | 1.04% | 98.54 | 97.53 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/9/24-8/16/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACPRODUCTS TL B | -7.11% | 71.54 | 77.02 | 11 |
| 2 | CONAIR HOLDINGS TL | -3.14% | 92.64 | 95.64 | 6 |
| 3 | CABLE ONE TL B | -1.24% | 96.88 | 98.10 | 6 |
| 4 | MERLIN ENTERTAINMENTS TL B | -1.10% | 98.78 | 99.88 | 10 |
| 5 | GRIFOLS WORLDWIDE TL B | -0.65% | 96.31 | 96.94 | 13 |
| 6 | TECTUM HOLDINGS INC TL B | -0.59% | 98.35 | 98.93 | 11 |
| 7 | HUNTER DOUGLAS TL B | -0.56% | 97.27 | 97.82 | 9 |
| 8 | WIDEOPENWEST TL B | -0.55% | 85.04 | 85.51 | 13 |
| 9 | EW SCRIPPS TL B2 | -0.54% | 94.98 | 95.50 | 12 |
| 10 | ETHYPHARM EUR TL B | -0.54% | 94.17 | 94.68 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/9/24-8/16/24 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 8/9/24-8/16/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/9/24 vs. the week ending 8/16/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | MCAFEE CORP DD TL | 30 | 64 | 34 | 113% |
| 2 | SAVAGE ENTERPRISES TL B | 18 | 50 | 32 | 178% |
| 3 | MADISON IAQ TL B | 48 | 80 | 32 | 67% |
| 4 | WR GRACE TL B | 20 | 50 | 30 | 150% |
| 5 | STATION CASINO TL B | 54 | 84 | 30 | 56% |
| 6 | TK ELEVATOR TL B | 84 | 113 | 29 | 35% |
| 7 | BEACON ROOFING TL B | 76 | 104 | 28 | 37% |
| 8 | NATIONAL INTERGOVERNMENT TL B | 18 | 46 | 28 | 156% |
| 9 | GATES GLOBAL TL B4 | 38 | 64 | 26 | 68% |
| 10 | BUILDING MATERIALS TL B | 68 | 94 | 26 | 38% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/9/24-8/16/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL K | 18 |
| 2 | HILEX POLY TL B | 17 |
| 3 | TENNECO TL B | 17 |
| 4 | MEDLINE TL B | 16 |
| 5 | DAVITA TL B | 16 |
| 6 | ZAYO TL | 16 |
| 7 | ULTIMATE SOFTWARE TL B | 16 |
| 8 | BERRY PLASTICS TL | 16 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 10 | ZIGGO EUR TL H | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/9/24-8/16/24
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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