Syndicated Bank Loans

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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

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