Syndicated Bank Loans

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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

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