Syndicated Bank Loan Market Summary – Week Ending 8/30/24
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
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
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
