Syndicated Bank Loan Market Summary – Week Ending 7/11/25
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Syndicated Bank Loan Market Summary: Week Ending 7/11/25
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 7/11/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Lakeshore Recycling | 580 | Term Loan | 9/1/2028 | S+350 |
| Vodafone Group PLC | 1700 | Term Loan | 7/9/2029 | E+425 |
| Adco Global Inc. | 510 | Term Loan | 10/2/2026 | S+425 |
| Goosehead Insurance Holdings LLC | 300 | Term Loan | 1/8/2032 | S+325 |
forward calendar
Forward calendar during the week ending 7/11/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Avis Budget Group Inc. | $1.152B TL | JPM | Q3 2025 |
| Cognita | $635MM TLB | GS,MS,BofA | Q3 2025 |
| Flynn Group LP | $1.1B TLB2 | BofA | Q3 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/3/25-7/11/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,631 | MEDLINE BORROWER LP (USD) TL S+225 10/21/2028 | 0.26% | 100.34 | 100.09 | 13 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | 0.95% | 89.10 | 88.26 | 14 |
| 3 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | -0.09% | 94.72 | 94.81 | 13 |
| 4 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 1.13% | 95.64 | 94.57 | 14 |
| 5 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.09% | 100.52 | 100.43 | 10 |
| 6 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | 1.54% | 100.38 | 98.86 | 18 |
| 7 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | -1.20% | 99.11 | 100.31 | 14 |
| 8 | 4,230 | TK ELEVATOR (US) NEWCO INC TL B | 0.53% | 100.53 | 100.00 | 16 |
| 9 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.13% | 100.11 | 99.97 | 15 |
| 10 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | -0.87% | 99.55 | 100.42 | 17 |
| 11 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | -0.21% | 100.28 | 100.49 | 11 |
| 12 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.37% | 100.53 | 100.16 | 16 |
| 13 | 3,859 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 0.00% | 100.33 | 100.32 | 19 |
| 14 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 23.47% | 100.31 | 81.25 | 16 |
| 15 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | -18.89% | 81.20 | 100.11 | 18 |
| 16 | 3,566 | AIR MEDICAL (USD) PIK TL B S+550 10/2/2028 | 0.20% | 100.22 | 100.02 | 11 |
| 17 | 3,491 | WESTINGHOUSE (USD) TL B S+250 1/5/2031 | 16.31% | 100.09 | 86.05 | 17 |
| 18 | 3,420 | RCN GRANDE (USD) TL L+325 9/25/2026 | -14.51% | 85.58 | 100.11 | 11 |
| 19 | 3,393 | GENESYS TELECOM (USD) TL B S+250 1/23/2032 | 2.57% | 100.25 | 97.74 | 12 |
| 20 | 3,380 | SOLERA (USD) TL B L+400 6/2/2028 | -2.50% | 97.89 | 100.40 | 16 |
| AVERAGE | 4,284 | 0.46% | 97.33 | 100.40 | 14.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/3/25-7/11/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RACKSPACE FIN LLC (USD) TL B S+275 5/15/2028 | 8.11% | 48.71 | 45.05 | 11 |
| 2 | ANASTASIA BEVERLY HILLS (USD) TL B L+375 8/11/2025 | 5.46% | 87.00 | 82.50 | 9 |
| 3 | VET INTERMEDIATE (USD) TL B S+500 9/19/2029 | 3.32% | 93.06 | 90.08 | 8 |
| 4 | NUMERICABLE (USD) TL B11 L+275 7/31/2025 | 3.06% | 89.32 | 86.67 | 7 |
| 5 | GRAY TELEVISION (USD) TL D L+300 12/1/2028 | 1.65% | 99.14 | 97.53 | 14 |
| 6 | SYNCSORT (USD) TL L+400 4/24/2028 | 1.64% | 96.46 | 94.91 | 7 |
| 7 | INMARSAT (USD) TL B S+450 9/13/2029 | 1.53% | 97.10 | 95.64 | 10 |
| 8 | LASERSHIP (USD) PIK SO TL B S+550 8/10/2029 | 1.35% | 59.53 | 58.74 | 2 |
| 9 | PETCO (USD) TL B L+325 3/3/2028 | 1.29% | 93.37 | 92.18 | 16 |
| 10 | ASURION (USD) 2L TL B4 L+525 1/20/2029 | 1.22% | 93.84 | 92.71 | 10 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/3/25-7/11/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RINCHEM (USD) TL S+450 3/2/2029 | -12.19% | 56.55 | 64.40 | 11 |
| 2 | LESLIE’S POOLMART (USD) TL B L+275 3/9/2028 | -2.06% | 68.64 | 70.09 | 12 |
| 3 | XAI CORP (USD) TL B S+725 6/2/2030 | -1.88% | 92.70 | 94.48 | 7 |
| 4 | SYMPLR SOFTWARE (USD) TL B S+450 12/22/2027 | -1.63% | 89.39 | 90.87 | 11 |
| 5 | ORBITER GROUP (EUR) TL B E+400 10/18/2028 | -1.63% | 89.76 | 91.24 | 15 |
| 6 | LOGOPLASTE (EUR) TL B E+375 7/7/2028 | -1.59% | 96.22 | 97.77 | 9 |
| 7 | CP ATLAS BUYER INC TL B | -1.47% | 95.71 | 97.14 | 7 |
| 8 | ADVANTAGE SALES (USD) TL B S+425 10/28/2027 | -0.86% | 82.67 | 83.39 | 11 |
| 9 | TWITTER INC (USD) TL B1 S+650 10/26/2029 | -0.72% | 96.63 | 97.34 | 6 |
| 10 | GLOBAL UNIVERSITY (EUR) TL B E+350 1/24/2027 | -0.64% | 98.36 | 98.99 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/3/25-7/11/25 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 7/3/25-7/11/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/3/25 vs. the week ending 7/11/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SIGNATURE AVIATION US HLDGS INC (USD) TL B S+275 7/1/2031 | 44 | 116 | 72 | 164% |
| 2 | EPIC CRUDE (USD) TL B S+250 10/15/2031 | 2 | 46 | 44 | 2200% |
| 3 | UPCB FIN VII LTD (USD) TL A S+250 1/27/2032 | 56 | 90 | 34 | 61% |
| 4 | ATLANTIC AVIATION (USD) TL B S+250 9/23/2031 | 62 | 94 | 32 | 52% |
| 5 | REFRESCO (EUR) TL B E+350 7/26/2029 | 33 | 64 | 31 | 94% |
| 6 | EDELMAN FINANCIAL (USD) TL B S+300 4/7/2028 | 58 | 89 | 31 | 53% |
| 7 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | 58 | 88 | 30 | 52% |
| 8 | CERBA HEALTHCARE (EUR) TL B E+375 5/24/2028 | 0 | 30 | 30 | NA |
| 9 | CERBA HEALTHCARE (EUR) TL D E+500 2/16/2029 | 0 | 30 | 30 | NA |
| 10 | GENTIVA HEALTH (USD) TL B S+425 2/11/2028 | 52 | 81 | 29 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/3/25-7/11/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 22 |
| 2 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 20 |
| 3 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | 20 |
| 4 | WHATABURGER (USD) TL B S+250 8/3/2028 | 20 |
| 5 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 6 | TRICORBRAUN (USD) TL B L+325 3/3/2028 | 19 |
| 7 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 19 |
| 8 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 19 |
| 9 | ULTIMATE SOFTWARE (USD) TL B S+300 2/9/2031 | 19 |
| 10 | CHAMBERLAIN GROUP (USD) TL B L+350 11/3/2028 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/3/25-7/11/25
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.
Related Resources
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