Syndicated Bank Loan Market Summary – Week Ending 10/18/24
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Syndicated Bank Loan Market Summary: Week Ending 10/18/24
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 10/18/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Treasure Holding Inc | 785 | Term Loan | 11/4/2031 | S+425 |
| Outcomes Group Hldg Inc. | 698 | Term Loan | 5/2/2031 | S+350 |
| MyEyeDR. Inc. | 1400 | Term Loan | 4/2/2031 | S+350 |
forward calendar
Forward calendar during the week ending 10/18/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Cohesity | $2.8B TL (B2/B) | JPM,MS,WF,TD,HSBC | Q4 2024 |
| Overdrive | $130MM | KKR | Q4 2024 |
| Paradign | $698MM | UBS | Q4 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 10/11/24 – 10/18/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.03% | 100.11 | 100.08 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.01% | 100.27 | 100.26 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.05% | 100.22 | 100.18 | 17 |
| 4 | 4,750 | ZAYO TL | 0.73% | 94.84 | 94.15 | 14 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.11% | 99.43 | 99.31 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.11% | 99.43 | 99.31 | 16 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.00% | 100.25 | 100.26 | 16 |
| 8 | 4,237 | INSPIRE BRANDS TL | 0.05% | 100.05 | 100.00 | 13 |
| 9 | 3,935 | SS&C TECH TL B8 | -0.03% | 100.05 | 100.09 | 17 |
| 10 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.04% | 100.04 | 100.07 | 15 |
| 11 | 3,859 | ALLIANT HLDGS I INC TL B | 0.09% | 99.73 | 99.64 | 19 |
| 12 | 3,640 | TRANSDIGM INC. TL J | 0.09% | 100.12 | 100.03 | 15 |
| 13 | 3,573 | CDK GLOBAL TL B | 0.12% | 99.50 | 99.38 | 15 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.02% | 102.90 | 102.88 | 13 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.04% | 100.17 | 100.13 | 16 |
| 16 | 3,420 | RCN GRANDE TL | 0.17% | 85.76 | 85.62 | 12 |
| 17 | 3,380 | SOLERA TL B | 0.21% | 99.31 | 99.09 | 17 |
| 18 | 3,340 | PROOFPOINT TL B | 0.11% | 100.25 | 100.14 | 13 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.11% | 98.03 | 97.92 | 12 |
| 20 | 3,250 | CORELOGIC TL B | 0.04% | 99.67 | 99.62 | 10 |
| AVERAGE | 4,111 | 0.10% | 99.01 | 99.95 | 14.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 10/11/24-10/18/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RSA SECURITY LLC 2ND LIEN TL | 5.11% | 59.57 | 56.67 | 9 |
| 2 | COX ENTERPRISES, INC. TL B | 3.56% | 91.49 | 88.35 | 12 |
| 3 | WIDEOPENWEST TL B | 3.53% | 86.40 | 83.46 | 13 |
| 4 | SEQUA TL B | 2.98% | 98.29 | 95.45 | 6 |
| 5 | RACKSPACE HOSTING TL B | 1.73% | 57.66 | 56.68 | 7 |
| 6 | EW SCRIPPS EXT TL B3 | 1.63% | 92.13 | 90.65 | 10 |
| 7 | COLISEE PATRIMOINE EUR TL B | 1.57% | 91.16 | 89.75 | 15 |
| 8 | INOVIE EUR TL B | 1.38% | 95.09 | 93.80 | 12 |
| 9 | STAPLES TL B | 1.30% | 91.93 | 90.75 | 12 |
| 10 | VERIZON TL B1 | 1.15% | 95.59 | 94.50 | 5 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 10/11/24-10/18/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LANDESK TL B | -1.88% | 84.93 | 86.56 | 12 |
| 2 | CUBIC CORP TL B | -1.72% | 75.34 | 76.66 | 11 |
| 3 | WORLDLINE EUR TL | -1.65% | 73.79 | 75.03 | 13 |
| 4 | TRINSEO TL B | -0.87% | 78.13 | 78.82 | 12 |
| 5 | INMARSAT TL B | -0.83% | 93.11 | 93.89 | 7 |
| 6 | CERBA HEALTHCARE EUR TL C | -0.82% | 86.91 | 87.63 | 15 |
| 7 | CARDENAS MARKETS TL B | -0.82% | 97.72 | 98.53 | 9 |
| 8 | BARRACUDA TL | -0.58% | 96.34 | 96.90 | 14 |
| 9 | PEDIATRIC ASSOCIATES TL B | -0.55% | 96.08 | 96.61 | 12 |
| 10 | GVC HOLDINGS EUR TL | -0.35% | 100.06 | 100.40 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/11/24-10/18/24 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 10/11/24-10/18/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/11/24 vs. the week ending 10/18/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BUSY BEES EUR TL B | 52 | 78 | 26 | 50% |
| 2 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 72 | 88 | 16 | 22% |
| 3 | BIOGROUP EXT EUR TL B | 48 | 62 | 14 | 29% |
| 4 | BCPE MAX DUTCH BIDCO EUR TL B | 26 | 40 | 14 | 54% |
| 5 | SIGNATURE AVIATION TL B | 60 | 74 | 14 | 23% |
| 6 | GROUP OF BUTCHERS EUR TL B | 8 | 22 | 14 | 175% |
| 7 | DOMIDEP EUR TL B | 46 | 58 | 12 | 26% |
| 8 | BUSY BEES GBP TL B | 18 | 30 | 12 | 67% |
| 9 | FINANCIERE CEP EUR TL B | 48 | 60 | 12 | 25% |
| 10 | BIOGROUP EUR TL B | 60 | 72 | 12 | 20% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/11/24-10/18/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 20 |
| 2 | ALLIANT HLDGS I INC TL B | 20 |
| 3 | AMWINS TL B | 19 |
| 4 | HUB INTL LTD TL B | 18 |
| 5 | SOLERA TL B | 18 |
| 6 | TROPICANA TL | 18 |
| 7 | TRANSDIGM INC. TL K | 18 |
| 8 | WHITE CAP BUYER LLC TL B | 17 |
| 9 | GO DADDY TL B7 | 17 |
| 10 | REYNOLDS CONSUMER TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 10/11/24-10/18/24
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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