Syndicated Bank Loan Market Summary – Week Ending 11/15/24
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Syndicated Bank Loan Market Summary: Week Ending 11/15/24
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 11/15/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Jostens Inc. | 450 | Term Loan | 11/7/2031 | S+450 |
forward calendar
Forward calendar during the week ending 11/15/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Barnes Group Inc. | $2.4B credit facilities | RBC,JPM | Q4 2023 |
| GOGO Inc. | $275MM incremental TLs (B1/B+) | MS,BofA,DB | Q4 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/8/24 – 11/15/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.04% | 100.24 | 100.28 | 17 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.13% | 100.45 | 100.32 | 17 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.11% | 100.51 | 100.41 | 19 |
| 4 | 4,750 | ZAYO TL | 0.06% | 94.86 | 94.81 | 15 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.29% | 99.77 | 99.48 | 16 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.01% | 100.30 | 100.29 | 17 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.04% | 100.26 | 100.23 | 12 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.11% | 100.29 | 100.19 | 18 |
| 9 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.01% | 100.46 | 100.45 | 14 |
| 10 | 3,859 | ALLIANT HLDGS I INC TL B | 0.24% | 100.21 | 99.97 | 21 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.09% | 100.29 | 100.20 | 16 |
| 12 | 3,640 | TRANSDIGM INC. TL J | 0.09% | 100.29 | 100.20 | 16 |
| 13 | 3,573 | CDK GLOBAL TL B | 0.16% | 100.00 | 99.84 | 16 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.08% | 103.02 | 102.95 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.10% | 100.35 | 100.26 | 15 |
| 16 | 3,420 | RCN GRANDE TL | 0.88% | 86.71 | 85.95 | 14 |
| 17 | 3,380 | SOLERA TL B | 0.27% | 100.07 | 99.80 | 17 |
| 18 | 3,340 | PROOFPOINT TL B | 0.10% | 100.34 | 100.24 | 14 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.38% | 98.53 | 98.16 | 12 |
| 20 | 3,250 | CORELOGIC TL B | 0.01% | 99.53 | 99.52 | 11 |
| AVERAGE | 4,056 | 0.16% | 99.33 | 100.02 | 15.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/8/24-11/15/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TELESAT TL B5 | 2.71% | 46.79 | 45.56 | 9 |
| 2 | POULT EUR TL B | 2.45% | 94.73 | 92.47 | 11 |
| 3 | CAST & CREW TL B | 2.01% | 97.48 | 95.56 | 11 |
| 4 | INOVIE EUR TL B | 1.46% | 96.19 | 94.81 | 12 |
| 5 | SABRE TL B2 | 1.26% | 93.63 | 92.47 | 10 |
| 6 | RACKSPACE HOSTING TL B | 0.97% | 60.68 | 60.10 | 11 |
| 7 | RESTORATION HARDWARE TL B | 0.95% | 96.83 | 95.92 | 8 |
| 8 | CRH EUROPE EUR TL B | 0.94% | 97.05 | 96.15 | 12 |
| 9 | BIOGROUP EUR TL B | 0.93% | 97.26 | 96.36 | 15 |
| 10 | BIOGROUP EXT EUR TL B | 0.87% | 97.75 | 96.91 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/8/24-11/15/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | EIG INVESTORS TL B | -8.88% | 82.89 | 90.97 | 11 |
| 2 | CORNERSTONE TL B | -5.63% | 94.59 | 100.24 | 12 |
| 3 | MEDICAL SOLUTIONS TL | -4.84% | 69.81 | 73.36 | 13 |
| 4 | PLY GEM TL B | -4.68% | 94.03 | 98.64 | 9 |
| 5 | UPSTREAM REHABILITATION TL | -4.53% | 82.75 | 86.67 | 12 |
| 6 | ACPRODUCTS TL B | -3.87% | 73.16 | 76.10 | 11 |
| 7 | TROPICANA 2ND LIEN TL | -3.71% | 53.52 | 55.58 | 14 |
| 8 | CUBIC CORP TL B | -3.71% | 67.19 | 69.78 | 13 |
| 9 | LANDESK TL B | -2.54% | 82.64 | 84.79 | 14 |
| 10 | RIVERBED PIK TL | -2.48% | 58.09 | 59.57 | 6 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/8/24-11/15/24 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 11/8/24-11/15/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/8/24 vs. the week ending 11/15/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | VEONET EUR TL B | 36 | 58 | 22 | 61% |
| 2 | RACKSPACE HOSTING TL B | 5 | 26 | 21 | 420% |
| 3 | ELSAN GROUPE EXT EUR TL B5 | 48 | 68 | 20 | 42% |
| 4 | NORGINE EUR TL B | 16 | 36 | 20 | 125% |
| 5 | BCPE MAX DUTCH BIDCO EUR TL B | 18 | 36 | 18 | 100% |
| 6 | DOMIDEP EUR TL B | 28 | 46 | 18 | 64% |
| 7 | SECTOR ALARM HOLDING TL B | 24 | 42 | 18 | 75% |
| 8 | SANTE CIE EUR TL B | 18 | 36 | 18 | 100% |
| 9 | IMS HEALTH EUR TL B2 | 54 | 72 | 18 | 33% |
| 10 | LABORATORIOS EUR TL B1 | 34 | 52 | 18 | 53% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/8/24-11/15/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ALLIANT HLDGS I INC TL B | 21 |
| 2 | WHITE CAP BUYER LLC TL B | 20 |
| 3 | BMC SOFTWARE TL | 19 |
| 4 | HUB INTL LTD TL B | 19 |
| 5 | AMWINS TL B | 19 |
| 6 | TROPICANA TL | 19 |
| 7 | DAVITA TL B | 19 |
| 8 | PRINCE MINERALS TL | 18 |
| 9 | TRANSDIGM INC. TL K | 18 |
| 10 | SS&C TECH TL B8 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/8/24-11/15/24
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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