Syndicated Bank Loan Market Summary – Week Ending 11/29/24
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Syndicated Bank Loan Market Summary: Week Ending 11/29/24
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 11/29/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Cotiviti Corp. | 4229 | Term Loan | 5/1/2031 | S+275 |
| CMG Media Corp. | 1800 | Term Loan | 6/18/2029 |
forward calendar
Forward calendar during the week ending 11/29/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Stepstone Group | €1.925B TLB(B1/B/BB-) | KKR, BNP , DB, Helaba, HSBC | Q4 2024 |
| Dechra Pharmaceuticals | £1.3 B TLB (B2/B-/BB-) | Barclays,MS | Q4 2024 |
| Enstar Group Ltd | $700MM TLB | Barclays | Q4 2024 |
| Exclusive Networks Sa | $400 MM TL (B3/B-/B+) | BNP, CA, RBC, ING, Natixis, Natwest, RBI, SMBC | Q4 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/22/24 – 11/29/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.11% | 100.58 | 100.47 | 18 |
| 2 | 5,098 | HUB INTL LTD TL B | 0.02% | 100.70 | 100.68 | 20 |
| 3 | 4,750 | ZAYO TL | 0.23% | 95.37 | 95.15 | 15 |
| 4 | 4,741 | INTERNET BRANDS TL B | 0.05% | 100.13 | 100.08 | 16 |
| 5 | 4,525 | TRANSDIGM INC. TL I | 0.06% | 100.13 | 100.07 | 17 |
| 6 | 4,237 | INSPIRE BRANDS TL | -0.05% | 100.41 | 100.46 | 12 |
| 7 | 3,935 | SS&C TECH TL B8 | 0.00% | 100.40 | 100.39 | 18 |
| 8 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.20% | 100.79 | 100.59 | 16 |
| 9 | 3,859 | ALLIANT HLDGS I INC TL B | -0.01% | 100.55 | 100.56 | 19 |
| 10 | 3,640 | TRANSDIGM INC. TL J | 0.03% | 99.97 | 99.94 | 16 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.03% | 99.97 | 99.94 | 16 |
| 12 | 3,573 | CDK GLOBAL TL B | 0.12% | 100.14 | 100.02 | 16 |
| 13 | 3,566 | AIR MEDICAL PIK TL B | 0.07% | 100.25 | 100.18 | 10 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.10% | 103.14 | 103.25 | 14 |
| 15 | 3,500 | WESTINGHOUSE TL B | 0.04% | 100.34 | 100.30 | 15 |
| 16 | 3,420 | RCN GRANDE TL | 0.46% | 87.16 | 86.76 | 13 |
| 17 | 3,380 | SOLERA TL B | 0.00% | 100.37 | 100.37 | 17 |
| 18 | 3,340 | PROOFPOINT TL B | 0.15% | 100.57 | 100.41 | 13 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.07% | 98.98 | 98.91 | 12 |
| 20 | 3,250 | CORELOGIC TL B | -0.05% | 99.31 | 99.36 | 10 |
| AVERAGE | 3,965 | 0.07% | 99.46 | 100.53 | 15.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/22/24-11/29/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TROPICANA TL | 3.25% | 69.24 | 67.06 | 18 |
| 2 | MEDIQ EUR TL B | 1.13% | 98.01 | 96.91 | 12 |
| 3 | EMBECTA TL B | 1.00% | 98.94 | 97.96 | 13 |
| 4 | GRANITE ACQUISITION TL B | 0.98% | 96.69 | 95.75 | 15 |
| 5 | ZAYO TL | 0.75% | 96.12 | 95.41 | 15 |
| 6 | VERACODE TL B | 0.71% | 92.66 | 92.01 | 10 |
| 7 | ALPHIA INC TL B | 0.68% | 95.25 | 94.61 | 11 |
| 8 | DUPAGE MEDICAL GROUP TL B | 0.57% | 93.27 | 92.74 | 11 |
| 9 | HERTZ EXIT TL B | 0.55% | 88.68 | 88.19 | 8 |
| 10 | NATIONAL MENTOR TL B | 0.53% | 98.61 | 98.08 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/22/24-11/29/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | MAGNOLIA 2ND LIEN TL | -3.22% | 81.29 | 84.00 | 9 |
| 2 | BBB INDUSTRIES TL B | -2.65% | 92.06 | 94.57 | 9 |
| 3 | ALTICE FINANCING TL B | -2.62% | 86.34 | 88.66 | 10 |
| 4 | LESLIE’S POOLMART TL B | -2.07% | 94.94 | 96.95 | 15 |
| 5 | PARTS AUTHORITY TL | -2.01% | 90.18 | 92.03 | 9 |
| 6 | MEDICAL SOLUTIONS TL | -1.77% | 68.09 | 69.32 | 13 |
| 7 | THE NIELSEN COMPANY B.V. TL A | -1.12% | 91.64 | 92.68 | 12 |
| 8 | INTERTAPE POLYMER US INC TL | -0.78% | 95.68 | 96.43 | 15 |
| 9 | CONAIR HOLDINGS TL | -0.75% | 89.38 | 90.05 | 8 |
| 10 | KOFAX TL | -0.62% | 89.29 | 89.84 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/22/24-11/29/24 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 11/22/24-11/29/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/22/24 vs. the week ending 11/29/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | MITER BRANDS TL B | 38 | 68 | 30 | 79% |
| 2 | AMERICAN TRAFFIC SOLUTIONS TL B2 | 10 | 34 | 24 | 240% |
| 3 | UFC TL B | 32 | 56 | 24 | 75% |
| 4 | ROSEN TL B | 32 | 54 | 22 | 69% |
| 5 | NCR ATLEOS TL B | 10 | 32 | 22 | 220% |
| 6 | EFS COGEN TL B | 19 | 38 | 19 | 100% |
| 7 | DUN & BRADSTREET TL B | 10 | 28 | 18 | 180% |
| 8 | AKZONOBEL TL B | 0 | 14 | 14 | NA |
| 9 | SAIC TL B | 2 | 14 | 12 | 600% |
| 10 | AHLSELL TL B | 9 | 20 | 11 | 122% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/22/24-11/29/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | WHITE CAP BUYER LLC TL B | 20 |
| 2 | HUB INTL LTD TL B | 20 |
| 3 | AMWINS TL B | 19 |
| 4 | BMC SOFTWARE TL | 19 |
| 5 | ALLIANT HLDGS I INC TL B | 19 |
| 6 | DAVITA TL B | 19 |
| 7 | CSC SERVICEWORKS INC TL | 18 |
| 8 | TROPICANA TL | 18 |
| 9 | PRINCE MINERALS TL | 18 |
| 10 | DEXKO TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/22/24-11/29/24
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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