Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 9/6/24

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 9/6/24

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
TransDigm Group Inc. 1500 Term Loan 1/1/2032 S+250
Austin Powder Hldgs Co. Term Loan 8/1/2031 S+400

forward calendar

Forward calendar during the week ending 9/6/24

Issuer Deal Information Banks Expected Issue Date
J. Crew $450MM TLB (B2/B) GS Q3 2024
Lifepoint Health Inc. $1.845B TLB CITI Q3 2024
Rockpoint Gas Storage $1.25B TLB (B1/BB) WF,RBC Q3 2024

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/30/24 – 9/6/24

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,143 MEDLINE TL B -0.14% 100.06 100.20 15
2 5,385 ULTIMATE SOFTWARE TL B -0.12% 100.09 100.21 16
3 5,098 HUB INTL LTD TL B -0.10% 99.93 100.03 14
4 4,750 ZAYO TL 1.93% 93.68 91.90 16
5 4,750 ZAYO TL 1.93% 93.68 91.90 16
6 4,741 INTERNET BRANDS TL B -0.18% 99.53 99.71 13
7 4,525 TRANSDIGM INC. TL I -0.30% 100.11 100.41 15
8 4,260 NUMERICABLE TL B14 0.76% 76.78 76.19 10
9 4,237 INSPIRE BRANDS TL -0.18% 99.92 100.09 14
10 3,935 SS&C TECH TL B8 -0.11% 100.14 100.25 16
11 3,900 DIRECTV HLDGS LLC / DIRECTV TL -0.31% 100.17 100.47 15
12 3,640 TRANSDIGM INC. TL J -0.19% 99.92 100.10 15
13 3,640 TRANSDIGM INC. TL J -0.19% 99.92 100.10 15
14 3,573 CDK GLOBAL TL B 0.16% 98.92 98.76 14
15 3,500 AMERICAN AIRLINES TL B -0.33% 103.01 103.36 13
16 3,500 AMERICAN AIRLINES TL B -0.33% 103.01 103.36 13
17 3,500 WESTINGHOUSE TL B -0.11% 99.97 100.07 13
18 3,420 RCN GRANDE TL 2.67% 83.00 80.84 14
19 3,380 SOLERA TL B -0.29% 98.84 99.13 16
20 3,340 PROOFPOINT TL B -0.05% 99.98 100.03 11
AVERAGE 4,161 0.23% 97.53 97.36 14.2

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 8/30/24-9/6/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 ACPRODUCTS TL B 3.69% 77.81 75.04 12
2 RCN GRANDE TL 2.67% 83.00 80.84 14
3 BAUSCH HEALTH COMPANIES INC. TL B 2.16% 95.01 93.01 8
4 DENALI WATER SOLUTIONS TL B 2.11% 86.37 84.59 8
5 ZAYO TL 1.93% 93.68 91.90 16
6 CUBIC CORP TL B 1.68% 77.28 76.00 10
7 LIFTOFF TL B 1.61% 96.35 94.83 10
8 CONSOLIDATED COMMUNICATIONS TL B 1.29% 96.96 95.73 11
9 WEBER-STEPHEN EXT TL B 1.07% 93.91 92.92 6
10 PATHWAY PARTNERS VET MANAGEMENT TL 1.06% 83.60 82.72 11

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/30/24-9/6/24

RANK NAME CHANGE PRC PRC-1W DEALERS
1 TROPICANA 2ND LIEN TL -10.68% 65.97 73.86 10
2 RUNNER BUYER TL B -3.50% 49.02 50.80 11
3 PHYSICIAN PARTNERS TL -3.30% 65.77 68.01 10
4 INOVIE EUR TL B -3.28% 95.04 98.27 10
5 USIC TL -3.20% 89.45 92.41 9
6 MEDICAL SOLUTIONS TL -3.17% 73.42 75.82 10
7 WORLDLINE EUR TL -2.74% 79.67 81.92 13
8 BIOGROUP EUR TL B -2.18% 95.56 97.69 8
9 ASCEND PERFORMANCE MATERIALS TL B -1.47% 95.52 96.94 9
10 DUFF & PHELPS TL B -1.33% 97.87 99.19 11

Avg Bid PX by Sector

Displays the average loan bid price by sector between 8/30/24-9/6/24

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 8/30/24-9/6/24

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 8/30/24 vs. the week ending 9/6/24

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 SITEL LLC / SITEL FIN CORP EUR TL B 6 52 46 767%
2 CERBA HEALTHCARE EUR TL C 34 74 40 118%
3 TECHEM EUR TL B5 44 82 38 86%
4 CONSTELLATION RENEWABLES TL B 10 46 36 360%
5 CERBA HEALTHCARE EUR TL B 38 74 36 95%
6 IMS HEALTH EUR TL B2 30 66 36 120%
7 ACTION NEDERLAND EUR TL B6 28 62 34 121%
8 CEPSA/MATADOR TL B 12 44 32 267%
9 NTL CABLE PLC EUR TL R 38 70 32 84%
10 THERAMEX EUR TL B 22 54 32 145%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 8/30/24-9/6/24

RANK TRANCHE DEALERS
1 BMC SOFTWARE TL 18
2 TRANSDIGM INC. TL K 16
3 SS&C TECH TL B8 16
4 CEVA SANTE ANIMALE EUR TL B 16
5 WHITE CAP BUYER LLC TL B 16
6 AMWINS TL B 16
7 BERRY PLASTICS TL Z 16
8 LESLIE’S POOLMART TL B 16
9 SOLERA TL B 16
10 PETCO TL B 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 8/30/24-9/6/24

Sector Bid-Offer Spread

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

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