Syndicated Bank Loans
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Syndicated Bank Loan Market Summary:
Week Ending 8/30/24
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 8/30/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
| Del Monte Foods Co. | 236 | Term Loan | 8/2/2028 | S+800 |
| Sirva Worldwide | 43 | Delayed-draw Term Loan | 3/6/2026 | S+800 |
| Gannett Co. Inc | 674 | Term Loan | 8/26/2029 | S+500 |
forward calendar
Forward calendar during the week ending 8/30/24
| Issuer | Deal Information | Banks | Expected Issue Date |
| Enstar Group | $950MM TL | BCLY | Q3 2024 |
| Frontdoor Inc. | $575MM TL | JPM | Q3 2024 |
| Instructure Holdings Inc. | $2.275B credit facilities | MS,KKR,UBS,JEFF,RBC | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/23/24 – 8/30/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | 6,143 | MEDLINE TL B | 0.06% | 100.20 | 100.14 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.04% | 100.21 | 100.18 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.04% | 100.03 | 99.99 | 12 |
| 4 | 4,750 | ZAYO TL | 0.02% | 91.90 | 91.89 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.08% | 99.71 | 99.63 | 13 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.08% | 99.71 | 99.63 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.04% | 100.41 | 100.38 | 15 |
| 8 | 4,260 | NUMERICABLE TL B14 | -2.44% | 76.19 | 78.10 | 10 |
| 9 | 4,237 | INSPIRE BRANDS TL | 0.01% | 100.09 | 100.08 | 14 |
| 10 | 3,935 | SS&C TECH TL B8 | 0.00% | 100.25 | 100.25 | 15 |
| 11 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.05% | 100.47 | 100.53 | 15 |
| 12 | 3,640 | TRANSDIGM INC. TL J | 0.08% | 100.10 | 100.03 | 15 |
| 13 | 3,640 | TRANSDIGM INC. TL J | 0.08% | 100.10 | 100.03 | 15 |
| 14 | 3,573 | CDK GLOBAL TL B | -0.36% | 98.76 | 99.12 | 13 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.08% | 103.36 | 103.44 | 13 |
| 16 | 3,500 | WESTINGHOUSE TL B | 0.06% | 100.07 | 100.01 | 13 |
| 17 | 3,420 | RCN GRANDE TL | -2.30% | 80.84 | 82.74 | 14 |
| 18 | 3,380 | SOLERA TL B | -0.02% | 99.13 | 99.15 | 16 |
| 19 | 3,380 | SOLERA TL B | -0.02% | 99.13 | 99.15 | 16 |
| 20 | 3,340 | PROOFPOINT TL B | 0.05% | 100.03 | 99.98 | 11 |
| AVERAGE | 4,154 | -0.23% | 97.54 | 97.72 | 14.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/23/24-8/30/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | RACKSPACE HOSTING TL B | 5.16% | 48.69 | 46.30 | 7 |
| 2 | CISION TL B | 4.36% | 57.88 | 55.46 | 12 |
| 3 | HUNTER DOUGLAS TL B | 1.85% | 98.70 | 96.91 | 9 |
| 4 | DENALI WATER SOLUTIONS TL B | 1.77% | 84.59 | 83.12 | 8 |
| 5 | FIVE STAR BANK TL | 1.76% | 95.73 | 94.08 | 6 |
| 6 | THE NIELSEN COMPANY B.V. TL A | 1.44% | 95.06 | 93.71 | 10 |
| 7 | LANDESK TL B | 1.42% | 86.02 | 84.82 | 14 |
| 8 | NATIONAL MENTOR TL B | 1.41% | 95.12 | 93.80 | 11 |
| 9 | ARTERRA WINES CANANDA TL B1 | 1.11% | 96.78 | 95.72 | 13 |
| 10 | CUBIC CORP TL B | 1.08% | 76.00 | 75.19 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/23/24-8/30/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
| 1 | WORLDLINE EUR TL | -8.31% | 81.92 | 89.34 | 14 |
| 2 | PRETIUM PACKAGING 2ND LIEN TL | -4.50% | 52.20 | 54.66 | 11 |
| 3 | AMERICAN TRAILER WORLD TL | -4.02% | 91.96 | 95.82 | 13 |
| 4 | NUMERICABLE TL B12 | -1.65% | 80.94 | 82.30 | 7 |
| 5 | MAGNOLIA TL | -1.51% | 97.81 | 99.30 | 10 |
| 6 | ASCEND PERFORMANCE MATERIALS TL B | -0.95% | 96.94 | 97.87 | 9 |
| 7 | FLEETPRIDE TL B | -0.88% | 97.88 | 98.75 | 7 |
| 8 | GRAY TELEVISION TL D | -0.74% | 90.70 | 91.37 | 14 |
| 9 | REALPAGE TL B | -0.45% | 95.87 | 96.31 | 13 |
| 10 | CDK GLOBAL TL B | -0.36% | 98.76 | 99.12 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/23/24-8/30/24
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 8/23/24-8/30/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/23/24 vs. the week ending 8/30/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
| 1 | FOUNDATION BUILDING TL B2 | 78 | 106 | 28 | 36% |
| 2 | US LBM TL B | 62 | 90 | 28 | 45% |
| 3 | WHITE CAP BUYER LLC TL B | 106 | 132 | 26 | 25% |
| 4 | PCI GAMING TL B | 36 | 60 | 24 | 67% |
| 5 | PRESS GANEY TL B | 58 | 82 | 24 | 41% |
| 6 | BUCKEYE TL B3 | 74 | 98 | 24 | 32% |
| 7 | AXALTA COATING SYSTEMS TL B6 | 64 | 88 | 24 | 38% |
| 8 | PLASKOLITE TL | 26 | 50 | 24 | 92% |
| 9 | PRINCE MINERALS TL | 90 | 114 | 24 | 27% |
| 10 | GATES GLOBAL TL B4 | 59 | 82 | 23 | 39% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/23/24-8/30/24
| RANK | TRANCHE | DEALERS |
| 1 | TRANSDIGM INC. TL K | 17 |
| 2 | TENNECO TL B | 17 |
| 3 | BMC SOFTWARE TL | 17 |
| 4 | DAVITA TL B | 16 |
| 5 | BERLIN PACKAGING TL B7 | 16 |
| 6 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 16 |
| 7 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 8 | WHITE CAP BUYER LLC TL B | 16 |
| 9 | ZIGGO EUR TL H | 16 |
| 10 | ELANCO ANIMAL HEALTH TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/23/24-8/30/24
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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