Syndicated Bank Loan Market Summary – Week Ending 5/2/25
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Syndicated Bank Loan Market Summary: Week Ending 5/2/25
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 5/2/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Beacon Roofing Supply Inc. | 2000 | Term Loan | 5/20/2028 | S+325 |
| Employbridge LLC | 650 | Term Loan | 1/20/2030 | S+475 |
| Grant Thornton Advisors LLC | 800 | Term Loan | 5/31/2031 | S+300 |
forward calendar
Forward calendar during the week ending 5/2/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ensemble | $800MM TL | GS | Q2 2025 |
| Shift4 Payments Inc. | $1B TL (Ba1/BB+/BBB-) | GS | Q2 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/25/25-5/2/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | -2.14% | 87.20 | 89.11 | 12 |
| 2 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | 0.38% | 93.16 | 92.81 | 13 |
| 3 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 1.27% | 94.55 | 93.36 | 11 |
| 4 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | 0.04% | 99.90 | 99.86 | 17 |
| 5 | 4,479 | TIBCO (USD) TL B S+350 3/30/2029 | 0.15% | 99.05 | 98.90 | 12 |
| 6 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | -0.03% | 98.92 | 98.95 | 11 |
| 7 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.48% | 99.47 | 98.99 | 14 |
| 8 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.28% | 99.04 | 98.76 | 16 |
| 9 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.41% | 100.00 | 99.59 | 13 |
| 10 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.21% | 99.98 | 99.77 | 18 |
| 11 | 3,859 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 0.06% | 99.41 | 99.35 | 18 |
| 12 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.21% | 99.21 | 99.00 | 16 |
| 13 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 1.07% | 83.56 | 82.67 | 16 |
| 14 | 3,566 | AIR MEDICAL (USD) PIK TL B S+550 10/2/2028 | 0.15% | 99.91 | 99.76 | 10 |
| 15 | 3,491 | WESTINGHOUSE (USD) TL B S+250 1/5/2031 | -0.02% | 99.10 | 99.12 | 14 |
| 16 | 3,420 | RCN GRANDE (USD) TL L+325 9/25/2026 | 1.83% | 87.02 | 85.45 | 11 |
| 17 | 3,380 | SOLERA (USD) TL B L+400 6/2/2028 | 0.42% | 96.67 | 96.26 | 18 |
| 18 | 3,340 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.20% | 99.55 | 99.34 | 12 |
| 19 | 3,119 | EPICOR SOFTWARE CORP (USD) TL B S+275 5/30/2031 | 0.16% | 99.64 | 99.48 | 14 |
| 20 | 3,088 | DUN & BRADSTREET CORP (USD) TL B S+250 1/18/2029 | 0.09% | 99.72 | 99.63 | 11 |
| AVERAGE | 3,989 | 0.26% | 96.75 | 100.72 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/25/25-5/2/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | PIXELLE SPECIALTY SOLUTIONS (USD) TL B S+650 5/10/2028 | 5.41% | 90.61 | 85.96 | 10 |
| 2 | OLAPLEX (USD) TL B S+375 2/23/2029 | 4.21% | 90.14 | 86.50 | 11 |
| 3 | MONEYGRAM INTL INC (USD) TL B S+475 6/1/2030 | 3.58% | 92.05 | 88.87 | 9 |
| 4 | CHEPLAPHARM ARZNEIMITTEL GMBH (EUR) TL B E+400 2/22/2029 | 3.08% | 93.88 | 91.08 | 13 |
| 5 | CORNERSTONE (USD) TL B L+375 10/16/2028 | 2.77% | 88.49 | 86.10 | 10 |
| 6 | A-GAS (USD) TL B S+525 12/12/2029 | 2.45% | 89.10 | 86.97 | 6 |
| 7 | WEBSTP TL 1L USD (USD) TL B L+325 10/30/2027 | 2.17% | 94.24 | 92.24 | 7 |
| 8 | LIFEPOINT HEALTH INC (USD) TL B S+375 5/17/2031 | 2.14% | 98.37 | 96.30 | 11 |
| 9 | ONTARIO GAMING GTA LP (USD) TL B S+425 7/20/2030 | 2.07% | 97.23 | 95.26 | 7 |
| 10 | WATERBRIDGE OPERATING (USD) TL B S+400 5/10/2029 | 1.99% | 97.63 | 95.73 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/25/25-5/2/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ADVANTAGE SALES (USD) TL B S+425 10/28/2027 | -2.92% | 86.59 | 89.20 | 11 |
| 2 | INTERIOR LOGIC (USD) TL B L+350 4/3/2028 | -2.11% | 76.96 | 78.62 | 10 |
| 3 | BARRACUDA (USD) TL S+450 5/17/2029 | -1.78% | 82.97 | 84.48 | 15 |
| 4 | PLANVIEW (USD) TL B S+350 12/5/2027 | -1.72% | 97.28 | 98.98 | 9 |
| 5 | FLEETPRIDE (USD) TL B S+450 9/4/2028 | -1.55% | 86.96 | 88.33 | 13 |
| 6 | ORBITER GROUP (EUR) TL B E+475 10/25/2028 | -1.55% | 91.97 | 93.42 | 9 |
| 7 | L&W GROUP (USD) TL B S+450 4/6/2028 | -1.48% | 96.05 | 97.49 | 8 |
| 8 | ALKEGEN (USD) TL S+775 10/1/2029 | -1.39% | 90.95 | 92.23 | 10 |
| 9 | ZIGGO (USD) TL I L+250 4/30/2028 | -1.30% | 97.05 | 98.33 | 14 |
| 10 | CORNERSTONE BLDG BRANDS INC (USD) TL L+325 4/12/2028 | -1.22% | 86.82 | 87.89 | 14 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/25/25-5/2/25 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 4/25/25-5/2/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/25/25 vs. the week ending 5/2/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | FOUNDATION BUILDING (USD) TL B1 L+325 1/31/2028 | 44 | 86 | 42 | 95% |
| 2 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 72 | 102 | 30 | 42% |
| 3 | HARBOR FREIGHT (USD) TL B S+250 6/5/2031 | 52 | 81 | 29 | 56% |
| 4 | LUMEN TECHS INC (USD) TL B S+375 3/31/2032 | 14 | 41 | 27 | 193% |
| 5 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 92 | 118 | 26 | 28% |
| 6 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 81 | 107 | 26 | 32% |
| 7 | INTERNET BRANDS (USD) TL B4 S+425 12/11/2031 | 40 | 66 | 26 | 65% |
| 8 | LGC (USD) TL B S+400 1/11/2030 | 2 | 26 | 24 | 1200% |
| 9 | WHATABURGER (USD) TL B S+250 8/3/2028 | 52 | 74 | 22 | 42% |
| 10 | QLIK TECHNOLOGIES (USD) TL S+500 11/21/2032 | 48 | 69 | 21 | 44% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/25/25-5/2/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | 20 |
| 2 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 19 |
| 3 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 19 |
| 4 | ROCKET SOFTWARE INC (USD) TL B S+425 11/28/2028 | 19 |
| 5 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 18 |
| 6 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
| 7 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 18 |
| 8 | SOLERA (USD) TL B L+400 6/2/2028 | 18 |
| 9 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 17 |
| 10 | AMERICAN TRAILER WORLD (USD) TL L+375 3/3/2028 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/25/25-5/2/25
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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