Syndicated Bank Loans

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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

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