Syndicated Bank Loan Market Summary – Week Ending 6/30/23
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Syndicated Bank Loan Market Summary: Week Ending 6/30/23
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 6/30/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Univar Inc. | 2400 | Term Loan | 6/7/2030 | S+500 |
| Ineos Hldgs LTD | 650 | Term Loan | 6/12/2030 | S+375 |
| Heritage Grocers | 460 | Term Loan | 8/1/2029 | S+675 |
forward calendar
Forward calendar during the week ending 6/30/23
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Chart Industries Inc. | $250MM TLB | JPM | Q2 2023 |
| Cyanco Intermediate 2 Corp | $420MM TLB | DB,MS,RBC,SG | Q2 2023 |
| Dave & Buster’s Inc. | $844MM TLB | DB | Q2 2023 |
| Helix Gen Funding LLC | $700MM TL | BCLY,GS,RBC,BMO,MUFG | Q2 2023 |
| Idemia | $642MM TLB (B2) | JPM,BNP,CA,HSBC,SG,DB | Q2 2023 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF,BMO,CTZ,TRS | Q2 2023 |
| Upfield | $883MM TL | KKR,BNP,CITI,CAG,CS,DB,GS | Q2 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/23/23 – 6/30/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.00% | 101.48 | 101.47 | 12 |
| 2 | 5,160 | INTEL TL | 0.29% | 95.48 | 95.21 | 11 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.13% | 99.87 | 99.74 | 13 |
| 4 | 4,750 | ZAYO TL | -0.95% | 78.49 | 79.24 | 16 |
| 5 | 4,750 | HUB INTL LTD TL B5 | 0.26% | 100.15 | 99.89 | 15 |
| 6 | 4,559 | TRANSDIGM INC. TL I | 0.03% | 99.89 | 99.86 | 16 |
| 7 | 3,900 | DIRECTV TL | 0.66% | 97.62 | 96.98 | 15 |
| 8 | 3,600 | CDK GLOBAL TL | 0.29% | 99.71 | 99.42 | 12 |
| 9 | 3,582 | MISYS TL B | -0.74% | 95.95 | 96.67 | 13 |
| 10 | 3,515 | LIFEPOINT HOSPITALS TL B | 1.83% | 92.59 | 90.93 | 10 |
| 11 | 3,500 | AMERICAN AIRLINES TL B | 0.52% | 102.14 | 101.61 | 12 |
| 12 | 3,500 | SEDGWICK TL B | 0.54% | 99.30 | 98.76 | 10 |
| 13 | 3,500 | PILOT TRAVEL TL B | 0.05% | 99.80 | 99.74 | 10 |
| 14 | 3,450 | GOLDEN NUGGET INC TL B | 0.56% | 98.79 | 98.24 | 12 |
| 15 | 3,420 | RCN GRANDE TL | 0.47% | 83.47 | 83.09 | 11 |
| 16 | 3,380 | SOLERA TL B | 0.96% | 91.67 | 90.80 | 12 |
| 17 | 3,300 | NTL CABLE PLC TL N | 0.58% | 99.13 | 98.56 | 12 |
| 18 | 3,190 | INTELSAT EXIT TL B | 0.32% | 99.47 | 99.15 | 13 |
| 19 | 3,100 | HUNTER DOUGLAS TL B | 2.22% | 94.61 | 92.56 | 11 |
| 20 | 3,100 | ASURION TL B8 | 1.30% | 96.14 | 94.90 | 10 |
| AVERAGE | 4,041 | 0.47% | 96.29 | 95.84 | 12.3 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/23/23-6/30/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CITY BREWING TL B | 18.64% | 61.69 | 52.00 | 9 |
| 2 | WHOLE EARTH BRANDS TL | 10.99% | 80.67 | 72.68 | 6 |
| 3 | CBS RADIO INC TL B | 10.22% | 54.73 | 49.66 | 9 |
| 4 | TKC HOLDINGS TL | 5.79% | 92.95 | 87.87 | 9 |
| 5 | TOSCA SERVICES TL | 4.61% | 80.72 | 77.17 | 11 |
| 6 | STRATEGIC PARTNERS TL B | 3.93% | 55.05 | 52.97 | 9 |
| 7 | BRAND ENERGY TL | 3.79% | 98.71 | 95.10 | 11 |
| 8 | PACKERS HOLDINGS TL | 3.69% | 69.18 | 66.72 | 14 |
| 9 | FOREST CITY ENTERPRISES TL B | 3.40% | 77.16 | 74.62 | 8 |
| 10 | POWER STOP TL B | 3.30% | 73.78 | 71.42 | 3 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/23/23-6/30/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | DELL SOFTWARE GROUP 2ND LIEN TL | -6.56% | 65.50 | 70.10 | 6 |
| 2 | DELL SOFTWARE GROUP TL B | -4.66% | 77.25 | 81.03 | 13 |
| 3 | USIC 2ND LIEN TL | -3.63% | 89.95 | 93.34 | 5 |
| 4 | ELECTRONICS FOR IMAGING TL | -3.24% | 67.92 | 70.19 | 10 |
| 5 | UNIFRAX TL B | -2.80% | 88.34 | 90.89 | 10 |
| 6 | USIC TL | -2.58% | 94.52 | 97.02 | 5 |
| 7 | SPRINGS WINDOW TL B | -2.11% | 80.79 | 82.54 | 10 |
| 8 | ICP GROUP TL | -1.97% | 75.65 | 77.17 | 7 |
| 9 | SI GROUP TL | -1.51% | 78.80 | 80.01 | 9 |
| 10 | EAGLEVIEW TL B | -1.00% | 87.48 | 88.37 | 7 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/23/23-6/30/23 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 6/23/23-6/30/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/23/23 vs. the week ending 6/30/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TRANSDIGM INC. TL I | 92 | 126 | 34 | 37% |
| 2 | HUB INTL LTD TL B5 | 84 | 116 | 32 | 38% |
| 3 | LIFEPOINT HOSPITALS TL B | 50 | 81 | 31 | 62% |
| 4 | ASCEND PERFORMANCE MATERIALS TL B | 56 | 86 | 30 | 54% |
| 5 | BMC SOFTWARE TL B | 84 | 114 | 30 | 36% |
| 6 | TRANSDIGM INC. TL H | 84 | 114 | 30 | 36% |
| 7 | CABLE & WIRELESS TL B5 | 42 | 71 | 29 | 69% |
| 8 | OPEN TEXT CORP TL B | 56 | 85 | 29 | 52% |
| 9 | HILEX POLY TL B | 110 | 137 | 27 | 25% |
| 10 | US RADIOLOGY SPECIALISTS TL B | 12 | 38 | 26 | 217% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/23/23-6/30/23
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HEARTHSIDE FOODS TL B | 17 |
| 2 | ZIGGO EUR TL H | 17 |
| 3 | HUB INTL LTD TL B3 | 16 |
| 4 | VERISURE EUR TL B | 16 |
| 5 | BELLIS ACQUISITION CO PLC EUR TL B | 16 |
| 6 | BERRY PLASTICS TL Z | 16 |
| 7 | UPC HOLDING BV EUR TL | 16 |
| 8 | SIGMA BIDCO GBP TL B4 | 16 |
| 9 | TRANSDIGM INC. TL I | 16 |
| 10 | GRIFOLS WORLDWIDE EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/23/23-6/30/23
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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