Syndicated Bank Loan Market Summary – Week Ending 9/20/24
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Syndicated Bank Loan Market Summary: Week Ending 9/20/24
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 9/20/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| BlueHalo | 532 | Term Loan | 10/31/2025 | S+500 |
| Univar Inc. | 2740 | Term Loan | 8/31/2030 | S+350 |
| Element Materials Technology Group | 1400 | Term Loan | 6/30/2029 | S+400 |
forward calendar
Forward calendar during the week ending 9/20/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Clean Harbors Inc. | $1.469B TLB | GS | Q3 2024 |
| Dave & Buster’s Inc. | $700MM TLB | DB | Q3 2024 |
| Northriver Midstream | $716.5MM TLB | BMO, RBC | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/13/24 – 9/20/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.02% | 100.00 | 100.02 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.01% | 100.10 | 100.10 | 17 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.04% | 99.85 | 99.90 | 18 |
| 4 | 4,750 | ZAYO TL | -1.13% | 92.63 | 93.69 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | -0.12% | 99.35 | 99.47 | 14 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.09% | 100.03 | 100.12 | 17 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.04% | 99.93 | 99.89 | 13 |
| 8 | 3,935 | SS&C TECH TL B8 | -0.07% | 100.03 | 100.10 | 16 |
| 9 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.13% | 99.98 | 99.85 | 14 |
| 10 | 3,640 | TRANSDIGM INC. TL J | -0.15% | 99.76 | 99.91 | 17 |
| 11 | 3,573 | CDK GLOBAL TL B | 0.02% | 98.88 | 98.86 | 16 |
| 12 | 3,500 | WESTINGHOUSE TL B | 0.00% | 99.95 | 99.95 | 14 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | 0.07% | 102.76 | 102.69 | 13 |
| 14 | 3,420 | RCN GRANDE TL | 0.81% | 85.48 | 84.78 | 12 |
| 15 | 3,380 | SOLERA TL B | -0.15% | 98.57 | 98.72 | 17 |
| 16 | 3,340 | PROOFPOINT TL B | -0.02% | 100.01 | 100.03 | 13 |
| 17 | 3,300 | NTL CABLE PLC TL N | -0.29% | 95.74 | 96.01 | 12 |
| 18 | 3,250 | CORELOGIC TL B | 0.22% | 98.86 | 98.65 | 10 |
| 19 | 3,242 | GOLDEN NUGGET INC TL B | -0.03% | 99.71 | 99.75 | 17 |
| 20 | 3,236 | PAREXEL INTERNATIONAL TL B | -0.07% | 100.08 | 100.15 | 12 |
| AVERAGE | 4,005 | -0.04% | 98.58 | 98.63 | 14.7 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/13/24-9/20/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ELECTRONICS FOR IMAGING TL | 13.00% | 89.03 | 78.78 | 10 |
| 2 | KOFAX TL | 4.56% | 90.38 | 86.43 | 9 |
| 3 | RACKSPACE HOSTING TL B | 4.35% | 50.65 | 48.54 | 7 |
| 4 | NUMERICABLE TL B13 | 3.22% | 82.07 | 79.51 | 9 |
| 5 | SPRINGS WINDOW TL B | 2.97% | 80.30 | 77.98 | 10 |
| 6 | ANASTASIA BEVERLY HILLS TL B | 2.83% | 70.81 | 68.86 | 11 |
| 7 | SINCLAIR BROADCAST GROUP INC. TL B4 | 2.48% | 70.16 | 68.46 | 8 |
| 8 | VERIZON TL B1 | 2.03% | 90.58 | 88.78 | 6 |
| 9 | EW SCRIPPS EXT TL B3 | 2.01% | 87.50 | 85.78 | 11 |
| 10 | GAINWELL TL B | 1.94% | 94.63 | 92.83 | 8 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/13/24-9/20/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | DELL SOFTWARE GROUP 2ND LIEN TL | -15.16% | 36.71 | 43.27 | 9 |
| 2 | TROPICANA 2ND LIEN TL | -8.36% | 60.31 | 65.81 | 11 |
| 3 | ETHYPHARM GBP TL B | -2.92% | 89.40 | 92.08 | 8 |
| 4 | LASERSHIP TL | -2.86% | 63.66 | 65.54 | 11 |
| 5 | MAGNOLIA 2ND LIEN TL | -2.73% | 93.82 | 96.45 | 7 |
| 6 | CERBA HEALTHCARE EUR TL C | -2.70% | 88.33 | 90.79 | 16 |
| 7 | COLISEE PATRIMOINE EUR TL B | -2.38% | 91.61 | 93.85 | 14 |
| 8 | TROPICANA TL | -2.09% | 79.97 | 81.68 | 15 |
| 9 | SOLMAX TL | -2.00% | 91.30 | 93.16 | 8 |
| 10 | FLEETPRIDE TL B | -1.50% | 95.19 | 96.64 | 8 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/13/24-9/20/24 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 9/13/24-9/20/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/13/24 vs. the week ending 9/20/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SUMMIT MATERIALS TL B | 20 | 69 | 49 | 245% |
| 2 | APPLIED SYSTEMS TL | 58 | 100 | 42 | 72% |
| 3 | MERLIN ENTERTAINMENTS EUR TL B | 36 | 69 | 33 | 92% |
| 4 | BIOGROUP EUR TL B | 38 | 70 | 32 | 84% |
| 5 | EG GROUP EUR TL B | 24 | 50 | 26 | 108% |
| 6 | CERBA HEALTHCARE EUR TL C | 66 | 92 | 26 | 39% |
| 7 | STADA ARZNEIMITTEL TL B3 | 50 | 76 | 26 | 52% |
| 8 | VERISURE EUR TL B | 58 | 82 | 24 | 41% |
| 9 | STYROLUTION EUR TL B | 28 | 50 | 22 | 79% |
| 10 | CERBA HEALTHCARE EUR TL B | 70 | 92 | 22 | 31% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/13/24-9/20/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 20 |
| 2 | HUB INTL LTD TL B | 18 |
| 3 | ULTIMATE SOFTWARE TL B | 18 |
| 4 | TRANSDIGM INC. TL K | 18 |
| 5 | EPICOR SOFTWARE TL | 17 |
| 6 | TRANSDIGM INC. TL J | 17 |
| 7 | WHITE CAP BUYER LLC TL B | 17 |
| 8 | AMWINS TL B | 17 |
| 9 | SOLERA TL B | 17 |
| 10 | INTERTAPE POLYMER US INC TL | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/13/24-9/20/24
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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