Syndicated Bank Loan Market Summary – Week Ending 7/7/23
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 7/7/23
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 7/7/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Sierra Nevada Corp. | 226 | Term Loan | 6/29/2028 | S+200 |
forward calendar
Forward calendar during the week ending 7/7/23
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ion Corporates | $400MM TL | BNP,JPM | Q3 2023 |
| Lackawanna Energey Center LLC | $945MM credit facilities: $120MM RC; $380MM TLB; $95MM TLC; $350MM TLB1 | MS | Q3 2023 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF,BMO,CTZ,TRS | Q3 2023 |
| Odyssey Logistics & Technology Corp. | $627.3MM credit facilities: $125MM RC; $502.3MM TL | UBS,CS,JPM,RBC,CTB,KEY | Q3 2023 |
| Upfield | $883MM TL | KKR,BNP,CITI,CAG,CS,DB,GS | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/30/23 – 7/7/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | -0.07% | 101.40 | 101.48 | 12 |
| 2 | 5,160 | INTEL TL | 0.38% | 95.84 | 95.48 | 10 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.05% | 99.92 | 99.87 | 13 |
| 4 | 4,750 | HUB INTL LTD TL B5 | 0.14% | 100.30 | 100.15 | 15 |
| 5 | 4,750 | ZAYO TL | -0.52% | 78.09 | 78.49 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.68% | 96.41 | 95.76 | 10 |
| 7 | 4,559 | TRANSDIGM INC. TL I | 0.05% | 99.93 | 99.89 | 16 |
| 8 | 4,475 | UNIVISION TL C5 | -0.13% | 100.04 | 100.16 | 10 |
| 9 | 4,050 | CITRIX TL B | -0.02% | 93.36 | 93.38 | 10 |
| 10 | 3,900 | DIRECTV TL | 0.95% | 98.55 | 97.62 | 15 |
| 11 | 3,600 | CDK GLOBAL TL | 0.14% | 99.85 | 99.71 | 12 |
| 12 | 3,582 | MISYS TL B | -0.33% | 95.63 | 95.95 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 1.45% | 93.93 | 92.59 | 10 |
| 14 | 3,500 | PILOT TRAVEL TL B | 0.07% | 99.87 | 99.80 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.19% | 102.33 | 102.14 | 11 |
| 16 | 3,500 | SEDGWICK TL B | 0.43% | 99.73 | 99.30 | 10 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | 0.13% | 98.92 | 98.79 | 13 |
| 18 | 3,420 | RCN GRANDE TL | -0.60% | 82.98 | 83.47 | 11 |
| 19 | 3,380 | SOLERA TL B | 0.91% | 92.51 | 91.67 | 12 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.07% | 99.20 | 99.13 | 12 |
| AVERAGE | 4,235 | 0.20% | 96.44 | 96.24 | 12.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/30/23-7/7/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | COMPREHENSIVE EYECARE PARTNERS TL | 3.70% | 75.95 | 73.25 | 12 |
| 2 | MULTIPLAN TL B | 3.35% | 92.17 | 89.18 | 8 |
| 3 | AMERICAN TRAILER WORLD TL | 2.88% | 91.81 | 89.23 | 7 |
| 4 | LEAF HOME SOLUTIONS TL | 2.53% | 85.13 | 83.03 | 6 |
| 5 | EQUINOX HLDGS INC 2ND LIEN TL | 2.48% | 76.54 | 74.68 | 10 |
| 6 | RSA SECURITY LLC TL B | 2.29% | 85.08 | 83.17 | 9 |
| 7 | MCGRAW-HILL GLOBAL TL B | 2.23% | 95.39 | 93.31 | 9 |
| 8 | FRANKLIN ENERGY TL | 1.97% | 86.68 | 85.00 | 7 |
| 9 | GLOBAL TELESYSTEMS TL | 1.95% | 93.35 | 91.57 | 10 |
| 10 | IHEART TL B | 1.77% | 87.78 | 86.25 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/30/23-7/7/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RACKSPACE HOSTING TL B | -2.45% | 44.12 | 45.23 | 13 |
| 2 | LOGMEIN TL B | -1.64% | 61.92 | 62.95 | 11 |
| 3 | AIR MEDICAL TL B2 | -1.40% | 55.31 | 56.09 | 11 |
| 4 | ELECTRONICS FOR IMAGING TL | -1.18% | 67.12 | 67.92 | 10 |
| 5 | INTEL TL | -1.04% | 74.61 | 75.39 | 6 |
| 6 | AMC ENTERTAINMENT TL B1 | -0.99% | 77.23 | 78.00 | 13 |
| 7 | CISION TL B | -0.92% | 72.33 | 73.00 | 11 |
| 8 | ZAYO EUR TL | -0.80% | 77.76 | 78.39 | 12 |
| 9 | VERIZON TL B1 | -0.73% | 95.04 | 95.75 | 6 |
| 10 | UNIFRAX TL B | -0.70% | 87.73 | 88.34 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/30/23-7/7/23 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 6/30/23-7/7/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/30/23 vs. the week ending 7/7/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | INEOS FIN TL B | 6 | 36 | 30 | 500% |
| 2 | TRICOR GROUP EUR TL B | 0 | 28 | 28 | NA |
| 3 | PARQUES REUNIDOS SA EUR TL B3 | 0 | 20 | 20 | NA |
| 4 | CYANCO TL B | 2 | 22 | 20 | 1000% |
| 5 | SPRINGER NATURE EUR TL B | 18 | 38 | 20 | 111% |
| 6 | ALTICE FINANCING SA EUR TL B | 10 | 29 | 19 | 190% |
| 7 | VERISURE EUR TL B | 40 | 58 | 18 | 45% |
| 8 | VERISURE EUR TL B | 30 | 48 | 18 | 60% |
| 9 | BUSY BEES GBP TL B | 10 | 26 | 16 | 160% |
| 10 | CONSTELLATION ENTERPRISES EUR TL B | 12 | 28 | 16 | 133% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/30/23-7/7/23
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ZIGGO EUR TL H | 17 |
| 2 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 16 |
| 3 | TRANSDIGM INC. TL I | 16 |
| 4 | GRIFOLS WORLDWIDE EUR TL B | 16 |
| 5 | TELENET EUR TL | 16 |
| 6 | ZAYO TL | 16 |
| 7 | BERRY PLASTICS TL Z | 16 |
| 8 | VERISURE EUR TL B | 16 |
| 9 | BELLIS ACQUISITION CO PLC EUR TL B | 16 |
| 10 | NTL CABLE PLC EUR TL R | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/30/23-7/7/23
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.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
