Syndicated Bank Loans

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Syndicated Bank Loan Market Summary:
Week Ending 1/31/25

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 1/31/25

 

 

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
CommScope LLC 3250 Term Loan 12/17/2029 S+550
Delta Topco Inc. 1682 Term Loan 12/1/2029 S+275
EAB Global Inc. 990 Term Loan 8/16/2030 S+300
EG Group 1700 Term Loan 2/7/2028 S+425
Emerald Expositions Holding Inc. 515 Term Loan 1/31/2032 S+375
Focus Financial Partners LLC 325 Delayed-draw Term Loan 9/15/2031 S+275
Focus Financial Partners LLC 3601 Term Loan 9/15/2031 S+275
Formula One Holdings 850 Term Loan 9/29/2031 S+200
Formula One Holdings 1700 Term Loan 9/30/2031 S+200
HireRight Inc. 1039 Term Loan 9/27/2030 S+325
Kaman Corp. 250 Delayed-draw Term Loan 1/30/2032 S+275
Kaman Corp. 2650 Term Loan 12/30/2032 S+275
Touchdown Acquirer Inc 888 Term Loan 2/21/2031 S+275

forward calendar

Forward calendar during the week ending 1/31/25

 

 

 

 

Issuer Deal Information Banks Expected Issue Date
1-800 Contacts Inc $1.503B  TL (B2) KKR Q1 2025
Air Transport Services Group Inc. (Stonepeak Nile Parent Llc) $1.503B  TLB (Ba1/BB/BBB-) SMBC, JEF, MS, TFC, KKR, MFG, MUFG, NX, SAN Q1 2025
Al Gcx Holdings Llc $793 MM TLB (Ba3/BB)) BARC Q1 2025+C23AA21:D23

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/24/25-1/31/25

 

 

 

 

 

RANK SIZE (MM) NAME CHANGE PRC PRC-1W DEALERS
1 6,145 MAGNOLIA TL -0.43% 93.51 93.91 14
2 5,098 HUB INTL LTD TL B -0.01% 100.38 100.39 19
3 4,750 ZAYO TL 0.20% 96.07 95.88 16
4 4,741 INTERNET BRANDS TL B -0.91% 99.07 99.98 12
5 4,525 TRANSDIGM INC. TL I -0.03% 100.45 100.49 17
6 4,479 TIBCO TL B -0.02% 100.66 100.68 14
7 4,226 INSPIRE BRANDS TL B -0.03% 100.30 100.33 15
8 4,204 JANE STREET TL B -0.05% 99.86 99.91 16
9 4,001 CITADEL TL B 0.06% 100.58 100.52 14
10 3,935 SS&C TECH TL B8 0.01% 100.27 100.26 18
11 3,900 DIRECTV HLDGS LLC / DIRECTV TL -0.14% 100.04 100.19 15
12 3,859 ALLIANT HLDGS I INC TL B -0.12% 100.30 100.42 21
13 3,642 MASMOVIL IBERCOM SA EUR TL B3 0.19% 100.49 100.30 14
14 3,640 TRANSDIGM INC. TL J -0.02% 100.38 100.39 18
15 3,573 CDK GLOBAL TL B -3.82% 95.35 99.14 17
16 3,500 AMERICAN AIRLINES TL B -0.10% 102.36 102.46 15
17 3,420 RCN GRANDE TL -1.67% 89.18 90.69 11
18 3,380 SOLERA TL B -0.09% 100.09 100.18 18
19 3,350 THE NIELSEN COMPANY B.V. TL B -3.35% 83.86 86.76 11
20 3,340 PROOFPOINT TL B -0.09% 100.57 100.66 16
AVERAGE 4,085 -0.52% 98.19 99.65 15.6

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 1/24/25-1/31/25

 

 

 

 

 

RANK NAME CHANGE PRC PRC-1W DEALERS
1 ASCEND PERFORMANCE MATERIALS TL B 10.97% 74.72 67.34 14
2 DELL SOFTWARE GROUP 2ND LIEN TL 6.01% 25.70 24.24 9
3 CUBIC CORP TL B 2.95% 68.88 66.91 13
4 CHEPLAPHARM ARZNEIMITTEL EUR TL B 2.08% 91.30 89.45 16
5 CAST & CREW TL 1.67% 94.46 92.91 8
6 FONCIA GROUPE EUR TL B 1.37% 89.12 87.91 15
7 CONSTANT CONTACT TL B 1.30% 91.56 90.39 10
8 NUMERICABLE EUR TL B14 1.18% 84.79 83.80 8
9 CERBA HEALTHCARE EUR TL D 1.16% 92.85 91.78 13
10 CORNERSTONE BUILDING BRANDS TL 1.11% 95.02 93.97 12

Bottom 10 Perfromers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/24/25-1/31/25

 

 

 

 

 

RANK NAME CHANGE PRC PRC-1W DEALERS
1 BLOUNT TL B -14.47% 52.67 61.58 11
2 PRETIUM PACKAGING TL A -13.84% 66.58 77.28 10
3 BABILOU EUR TL B -4.63% 92.14 96.61 13
4 CDK GLOBAL TL B -3.82% 95.35 99.14 17
5 THE NIELSEN COMPANY B.V. TL A -3.37% 83.55 86.46 9
6 EASTMAN TIRE ADDITIVES TL -3.04% 71.36 73.60 9
7 IDERA PHARMACEUTICALS INC TL B -1.99% 95.06 96.98 9
8 INMARSAT TL B -1.87% 86.92 88.58 10
9 INTERNET BRANDS TL B4 -1.81% 97.24 99.02 10
10 TELESAT TL B5 -1.78% 58.42 59.47 10

Avg Bid PX by Sector

Displays the average loan bid price by sector between 1/24/25-1/31/25

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 1/24/25-1/31/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 1/24/25 vs. the week ending 1/31/25

 

 

 

 

 

RANK TRANCHE PRIOR WEEK THIS WEEK INCREASE % INCREASE
1 GENESEE & WYOMING TL B 61 121 60 98%
2 EXAMWORKS TL B 58 108 50 86%
3 SIGNATURE AVIATION TL B 52 102 50 96%
4 ADIENT GLOBAL TL B 28 74 46 164%
5 FLEXERA SOFTWARE TL 44 88 44 100%
6 PROOFPOINT TL B 72 116 44 61%
7 ONTIC TL B 32 74 42 131%
8 CINCINNATI BELL TL B2 20 62 42 210%
9 BUCKEYE TL B 88 130 42 48%
10 WHITE CAP BUYER LLC TL B 136 178 42 31%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 1/24/25-1/31/25

 

 

 

 

 

RANK TRANCHE DEALERS
1 ALLIANT HLDGS I INC TL B 21
2 WHITE CAP BUYER LLC TL B 20
3 GOLDEN NUGGET INC TL B 20
4 AMWINS TL B 19
5 TENNECO TL B 19
6 TRANSDIGM INC. TL K 19
7 BMC SOFTWARE TL 19
8 HUB INTL LTD TL B 19
9 GO DADDY TL B 19
10 DAVITA TL B 19

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 1/24/25-1/31/25

Sector Bid-Offer Spread

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

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