Syndicated Bank Loan Market Summary – Week Ending 9/13/24
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Syndicated Bank Loan Market Summary: Week Ending 9/13/24
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 9/13/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Cano Health LLC | 161 | Term Loan | 6/28/2028 | S+700 |
| AZZ Inc | 890 | Term Loan | 5/13/2029 | S+275 |
| Planview Inc. | 270 | Term Loan | 12/17/2028 | S+600 |
forward calendar
Forward calendar during the week ending 9/13/24
| 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 |
| Tronox Finance LLC | $902MM (Ba2/BB) | HSBC,BCLY,BNP,BofA | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/6/24 – 9/13/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.05% | 100.02 | 100.06 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.01% | 100.10 | 100.09 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.03% | 99.90 | 99.93 | 15 |
| 4 | 4,750 | ZAYO TL | 0.01% | 93.69 | 93.68 | 16 |
| 5 | 4,750 | ZAYO TL | 0.01% | 93.69 | 93.68 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.06% | 99.47 | 99.53 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.01% | 100.12 | 100.11 | 15 |
| 8 | 4,237 | INSPIRE BRANDS TL | -0.03% | 99.89 | 99.92 | 14 |
| 9 | 3,935 | SS&C TECH TL B8 | -0.04% | 100.10 | 100.14 | 16 |
| 10 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.31% | 99.85 | 100.17 | 13 |
| 11 | 3,640 | TRANSDIGM INC. TL J | -0.01% | 99.91 | 99.92 | 15 |
| 12 | 3,573 | CDK GLOBAL TL B | -0.07% | 98.86 | 98.92 | 14 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | -0.31% | 102.69 | 103.01 | 13 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.31% | 102.69 | 103.01 | 13 |
| 15 | 3,500 | WESTINGHOUSE TL B | -0.02% | 99.95 | 99.97 | 13 |
| 16 | 3,420 | RCN GRANDE TL | 2.15% | 84.78 | 83.00 | 14 |
| 17 | 3,380 | SOLERA TL B | -0.12% | 98.72 | 98.84 | 16 |
| 18 | 3,340 | PROOFPOINT TL B | 0.05% | 100.03 | 99.98 | 11 |
| 19 | 3,300 | NTL CABLE PLC TL N | -0.37% | 96.01 | 96.37 | 12 |
| 20 | 3,300 | NTL CABLE PLC TL N | -0.37% | 96.01 | 96.37 | 12 |
| AVERAGE | 4,096 | 0.01% | 98.32 | 98.33 | 14.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/6/24-9/13/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACPRODUCTS TL B | 4.24% | 81.11 | 77.81 | 11 |
| 2 | RESTORATION HARDWARE TL B | 3.87% | 95.56 | 92.00 | 8 |
| 3 | COX ENTERPRISES, INC. TL B | 3.85% | 89.39 | 86.08 | 13 |
| 4 | PETCO TL B | 2.71% | 94.47 | 91.98 | 16 |
| 5 | RINCHEM TL | 2.07% | 83.41 | 81.72 | 10 |
| 6 | INTERIOR LOGIC TL B | 2.06% | 87.94 | 86.17 | 9 |
| 7 | CSC SERVICEWORKS INC TL | 1.83% | 86.50 | 84.95 | 15 |
| 8 | UPLAND SOFTWARE TL | 1.42% | 97.04 | 95.68 | 10 |
| 9 | VERIFONE TL B | 1.11% | 91.44 | 90.44 | 16 |
| 10 | CONSOLIDATED ENERGY TL B | 1.06% | 94.09 | 93.10 | 8 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/6/24-9/13/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | MULTIPLAN TL B | -4.22% | 73.61 | 76.86 | 10 |
| 2 | LASERSHIP TL | -3.46% | 65.54 | 67.89 | 10 |
| 3 | ASCEND PERFORMANCE MATERIALS TL B | -2.87% | 92.78 | 95.52 | 9 |
| 4 | COLISEE PATRIMOINE EUR TL B | -2.45% | 93.85 | 96.21 | 14 |
| 5 | GOGO/AIRCELL TL B | -2.36% | 96.79 | 99.12 | 10 |
| 6 | MERLIN ENTERTAINMENTS TL B | -1.88% | 96.75 | 98.61 | 9 |
| 7 | KLOECKNER EUR TL B | -1.81% | 93.79 | 95.52 | 14 |
| 8 | TROPICANA TL | -1.57% | 81.68 | 82.99 | 15 |
| 9 | NEW FORTRESS ENERGY TL B | -1.45% | 92.15 | 93.51 | 10 |
| 10 | HERTZ TL B | -1.40% | 88.92 | 90.19 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/6/24-9/13/24 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 9/6/24-9/13/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/6/24 vs. the week ending 9/13/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | APPLIED SYSTEMS TL | 2 | 58 | 56 | 2800% |
| 2 | MITCHELL TL B | 52 | 104 | 52 | 100% |
| 3 | GOLDEN NUGGET INC TL B | 84 | 128 | 44 | 52% |
| 4 | TWIN RIVER TL B | 74 | 114 | 40 | 54% |
| 5 | NTL CABLE PLC TL N | 64 | 102 | 38 | 59% |
| 6 | AMWINS TL B | 94 | 132 | 38 | 40% |
| 7 | GO DADDY TL B7 | 82 | 120 | 38 | 46% |
| 8 | CHARTER COMMUNICATIONS TL B2 | 52 | 88 | 36 | 69% |
| 9 | ELANCO ANIMAL HEALTH TL B | 104 | 140 | 36 | 35% |
| 10 | CHARTER COMMUNICATIONS TL B4 | 64 | 100 | 36 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/6/24-9/13/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 18 |
| 2 | WHITE CAP BUYER LLC TL B | 17 |
| 3 | AMWINS TL B | 17 |
| 4 | SS&C TECH TL B8 | 16 |
| 5 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 6 | VERIFONE TL B | 16 |
| 7 | DAVITA TL B | 16 |
| 8 | ELANCO ANIMAL HEALTH TL B | 16 |
| 9 | BERRY PLASTICS TL Z | 16 |
| 10 | SOLERA TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/6/24-9/13/24
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.
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