Syndicated Bank Loan Market Summary – Week Ending 10/11/24
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Syndicated Bank Loan Market Summary: Week Ending 10/11/24
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 10/11/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Avolon Aircraft | 2300 | Term Loan | 10/3/2030 | S+175 |
| John Bean Technologies Corp. | 900 | Term Loan | 9/24/2031 | S+225 |
| Jefferies Group Inc. | 950 | Term Loan | 9/25/2031 | S+300 |
forward calendar
Forward calendar during the week ending 10/11/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| First Brands Group LLC | $150MM TL | JEFF | Q4 2024 |
| Hanger Inc. | $1.3B TLs | BCLY | Q4 2024 |
| Momentive Performance Materials | $837MM TL | BNP | Q4 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 10/4/24 – 10/11/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.05% | 100.08 | 100.02 | 17 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.21% | 100.26 | 100.06 | 18 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.20% | 100.18 | 99.97 | 20 |
| 4 | 4,750 | ZAYO TL | 0.60% | 94.15 | 93.59 | 14 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.04% | 99.31 | 99.27 | 16 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.19% | 100.26 | 100.07 | 18 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.08% | 100.00 | 99.92 | 13 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.10% | 100.09 | 99.99 | 17 |
| 9 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.22% | 100.07 | 99.85 | 16 |
| 10 | 3,859 | ALLIANT HLDGS I INC TL B | 0.18% | 99.64 | 99.46 | 20 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.30% | 100.03 | 99.73 | 17 |
| 12 | 3,573 | CDK GLOBAL TL B | 0.18% | 99.38 | 99.21 | 17 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | 0.20% | 102.88 | 102.68 | 13 |
| 14 | 3,500 | WESTINGHOUSE TL B | 0.10% | 100.13 | 100.03 | 16 |
| 15 | 3,420 | RCN GRANDE TL | 0.11% | 85.62 | 85.52 | 11 |
| 16 | 3,380 | SOLERA TL B | 0.34% | 99.09 | 98.76 | 18 |
| 17 | 3,340 | PROOFPOINT TL B | 0.19% | 100.14 | 99.95 | 15 |
| 18 | 3,300 | NTL CABLE PLC TL N | 1.97% | 97.92 | 96.04 | 12 |
| 19 | 3,250 | CORELOGIC TL B | 0.63% | 99.62 | 99.00 | 10 |
| 20 | 3,242 | GOLDEN NUGGET INC TL B | 0.19% | 99.95 | 99.76 | 17 |
| AVERAGE | 4,036 | 0.30% | 98.94 | 98.64 | 15.8 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 10/4/24-10/11/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | NUMERICABLE TL B13 | 4.55% | 84.59 | 80.91 | 10 |
| 2 | ARAMSCO TL B | 2.76% | 96.60 | 94.01 | 4 |
| 3 | VERIZON TL B2 | 2.74% | 94.28 | 91.77 | 9 |
| 4 | SINCLAIR BROADCAST GROUP INC. TL B3 | 2.59% | 78.16 | 76.19 | 9 |
| 5 | NTL CABLE PLC TL Q | 2.35% | 98.14 | 95.89 | 12 |
| 6 | RESTAURANT TECHNOLOGIES TL | 2.28% | 97.08 | 94.92 | 7 |
| 7 | NTL CABLE PLC TL Y | 2.21% | 97.89 | 95.77 | 9 |
| 8 | LIBERTY LATIN AMERICA TL B | 1.89% | 93.44 | 91.71 | 5 |
| 9 | KIK CUSTOM TL B | 1.75% | 95.56 | 93.92 | 13 |
| 10 | EW SCRIPPS EXT TL B3 | 1.67% | 90.65 | 89.16 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 10/4/24-10/11/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TROPICANA TL | -3.20% | 78.62 | 81.21 | 15 |
| 2 | EOS US FINCO LLC TL B | -2.08% | 78.40 | 80.07 | 11 |
| 3 | AXILONE EUR TL B | -2.06% | 97.28 | 99.33 | 7 |
| 4 | FLEETPRIDE TL B | -1.64% | 91.76 | 93.30 | 9 |
| 5 | WORLDLINE EUR TL | -1.47% | 75.03 | 76.15 | 13 |
| 6 | COLISEE PATRIMOINE EUR TL B | -1.37% | 89.75 | 91.00 | 14 |
| 7 | ADB SAFEGATE EUR TL B | -1.25% | 95.25 | 96.46 | 9 |
| 8 | CORRECT CARE TL B | -1.21% | 61.03 | 61.77 | 9 |
| 9 | DEXKO TL B | -1.17% | 95.62 | 96.76 | 15 |
| 10 | HELP SYSTEMS TL | -1.13% | 94.03 | 95.10 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/4/24-10/11/24 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 10/4/24-10/11/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/4/24 vs. the week ending 10/11/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ASTORIA ENERGY TL B | 22 | 64 | 42 | 191% |
| 2 | US FOODS TL B | 32 | 70 | 38 | 119% |
| 3 | AZZ INC TL B | 32 | 68 | 36 | 113% |
| 4 | GENESYS TELECOM TL B | 38 | 72 | 34 | 89% |
| 5 | REFRESCO HOLDING EUR TL B | 12 | 44 | 32 | 267% |
| 6 | ALLIANT HLDGS I INC TL B | 90 | 120 | 30 | 33% |
| 7 | CREATIVE ARTISTS TL B | 40 | 68 | 28 | 70% |
| 8 | DIAMOND SPORTS DIP PIK TL | 8 | 36 | 28 | 350% |
| 9 | DIGICERT TL | 72 | 100 | 28 | 39% |
| 10 | ARCLIN TL | 64 | 90 | 26 | 41% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/4/24-10/11/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 21 |
| 2 | HUB INTL LTD TL B | 20 |
| 3 | ALLIANT HLDGS I INC TL B | 20 |
| 4 | AMWINS TL B | 19 |
| 5 | TRANSDIGM INC. TL K | 19 |
| 6 | SOLENIS TL B | 18 |
| 7 | SOLERA TL B | 18 |
| 8 | INTERTAPE POLYMER US INC TL | 18 |
| 9 | TRANSDIGM INC. TL I | 18 |
| 10 | ULTIMATE SOFTWARE TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/4/24-10/11/24
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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