Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 8/23/24

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 8/23/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Mehilainen 615 Term Loan 7/23/2031 E+400
Berry Global Group Inc 1550 Term Loan 7/1/2029 S+175

forward calendar

Forward calendar during the week ending 8/23/24

Issuer Deal Information Banks Expected Issue Date
Bally’s Corp. $500MM TLB Q3 2024
Frontdoor Inc. $575MM TL JPM Q3 2024
Owens & Minor $775MM TLB CITI Q3 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/16/24 – 8/23/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B -0.07% 100.14 100.21 16
2 5,385 ULTIMATE SOFTWARE TL B 0.20% 100.18 99.98 16
3 5,098 HUB INTL LTD TL B 0.11% 99.99 99.88 15
4 4,860 HUB INTL LTD TL B 0.10% 99.98 99.88 13
5 4,860 HUB INTL LTD TL B 0.10% 99.98 99.88 13
6 4,750 ZAYO TL 0.44% 91.89 91.48 16
7 4,741 INTERNET BRANDS TL B 0.19% 99.63 99.44 13
8 4,741 INTERNET BRANDS TL B 0.19% 99.63 99.44 13
9 4,525 TRANSDIGM INC. TL I 0.07% 100.38 100.31 16
10 4,237 INSPIRE BRANDS TL 0.11% 100.08 99.97 14
11 3,935 SS&C TECH TL B8 0.09% 100.25 100.16 15
12 3,900 DIRECTV HLDGS LLC / DIRECTV TL 0.03% 100.53 100.50 16
13 3,640 TRANSDIGM INC. TL J 0.07% 100.03 99.96 15
14 3,573 CDK GLOBAL TL B 0.22% 99.12 98.91 13
15 3,566 AIR MEDICAL PIK TL B 0.42% 99.29 98.87 10
16 3,500 WESTINGHOUSE TL B 0.05% 100.01 99.96 14
17 3,500 AMERICAN AIRLINES TL B -0.21% 103.44 103.65 14
18 3,420 RCN GRANDE TL 1.44% 82.74 81.56 15
19 3,380 SOLERA TL B -0.26% 99.15 99.40 16
20 3,380 SOLERA TL B -0.26% 99.15 99.40 16
AVERAGE 4,257 0.15% 98.78 98.64 14.5

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 8/16/24-8/23/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 FRANCHISE GROUP TL B 14.28% 56.07 49.06 10
2 INTERTAPE POLYMER US INC TL 3.95% 94.28 90.70 15
3 DIGICERT TL 3.79% 97.04 93.49 14
4 GRIFOLS WORLDWIDE EUR TL B 1.87% 97.19 95.41 14
5 LANDESK TL B 1.86% 84.82 83.26 14
6 OMNI LOGISTICS TL B 1.51% 97.75 96.30 12
7 ANASTASIA BEVERLY HILLS TL B 1.42% 71.29 70.29 11
8 CSC SERVICEWORKS INC TL 1.24% 84.44 83.41 15
9 PLY GEM TL B 1.07% 97.30 96.26 6
10 HELP SYSTEMS TL 1.02% 91.19 90.27 11

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/16/24-8/23/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 LASERSHIP TL -8.40% 70.54 77.00 10
2 HEARTHSIDE FOODS TL B2 -2.12% 71.59 73.14 12
3 ASCEND PERFORMANCE MATERIALS TL B -1.68% 97.87 99.54 9
4 RESTORATION HARDWARE TL B -1.04% 91.70 92.67 7
5 AMEDES GROUP EUR TL B -0.70% 95.95 96.62 11
6 FLEETPRIDE TL B -0.54% 98.75 99.28 7
7 DELTA 2ND LIEN TL -0.45% 70.67 70.99 5
8 NUMERICABLE TL B12 -0.43% 82.30 82.66 7
9 AMERICAN BATH TL -0.40% 95.61 95.99 15
10 HUNTER DOUGLAS TL B -0.37% 96.91 97.27 9

Avg Bid PX by Sector

Displays the average loan bid price by sector between 8/16/24-8/23/24

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 8/16/24-8/23/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 8/16/24 vs. the week ending 8/23/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 DIRECTV HLDGS LLC / DIRECTV EXT TL B 38 88 50 132%
2 HILTON TL B 48 92 44 92%
3 HILLMAN GROUP TL B 30 66 36 120%
4 GRAY TELEVISION TL D 73 106 33 45%
5 IDERA PHARMACEUTICALS INC TL B 20 50 30 150%
6 FIRST STUDENT TL B 32 62 30 94%
7 CAST & CREW TL B 34 60 26 76%
8 CDK GLOBAL TL B 70 96 26 37%
9 TEMPO ACQUISITION TL B 30 54 24 80%
10 SIGNATURE AVIATION TL B 20 44 24 120%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 8/16/24-8/23/24

RANK TRANCHE DEALERS
1 TRANSDIGM INC. TL K 17
2 TENNECO TL B 17
3 HILEX POLY TL B 16
4 ULTIMATE SOFTWARE TL B 16
5 BERRY PLASTICS TL 16
6 MEDLINE TL B 16
7 ZAYO TL 16
8 BERLIN PACKAGING TL B7 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 8/16/24-8/23/24

Sector Bid-Offer Spread

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

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