Syndicated Bank Loan Market Summary – Week Ending 7/14/23
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Syndicated Bank Loan Market Summary: Week Ending 7/14/23
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 7/14/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Phoenix Services LLC | N/A | Term Loan | 6/13/2028 | N/A |
| SiteOne Landscape Supply LLC | 120 | Term Loan | N/A | S+200 |
| Flora Food Group | 2375 | Term Loan | 1/2/2028 | E+500 |
forward calendar
Forward calendar during the week ending 7/14/23
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Centromotion | $450MM TLB (B2/B) | JPM | Q3 2023 |
| Godaddy Inc. | $1.761B TLB5 (Ba1/BB) | RBC, HSBC, WF, 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 |
| Omnia Partners LLC | $2.03B credit facilities: $250MM RC; $1.625B TL; $155MM DD TL | BCLY, FT, BLY, BNP, CTZ, UBS | Q3 2023 |
| One Toronto Gaming | $800MM TLB | BCLY | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/7/23 – 7/14/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.04% | 101.44 | 101.40 | 12 |
| 2 | 7,270 | MEDLINE TL B | 0.46% | 99.55 | 99.10 | 10 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.35% | 100.27 | 99.92 | 14 |
| 4 | 4,750 | HUB INTL LTD TL B5 | 0.13% | 100.43 | 100.30 | 15 |
| 5 | 4,750 | ZAYO TL | -2.19% | 76.38 | 78.09 | 17 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.73% | 97.11 | 96.41 | 11 |
| 7 | 4,559 | TRANSDIGM INC. TL I | 0.24% | 100.17 | 99.93 | 16 |
| 8 | 4,475 | UNIVISION TL C5 | 0.05% | 100.09 | 100.04 | 10 |
| 9 | 4,050 | CITRIX TL B | 1.91% | 95.14 | 93.36 | 10 |
| 10 | 3,900 | DIRECTV TL | 0.83% | 99.37 | 98.55 | 16 |
| 11 | 3,600 | CDK GLOBAL TL | 0.20% | 100.05 | 99.85 | 12 |
| 12 | 3,582 | MISYS TL B | 0.32% | 95.94 | 95.63 | 13 |
| 13 | 3,515 | LIFEPOINT HOSPITALS TL B | 1.76% | 95.59 | 93.93 | 10 |
| 14 | 3,500 | SEDGWICK TL B | 0.19% | 99.91 | 99.73 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.90% | 103.26 | 102.33 | 13 |
| 16 | 3,450 | GOLDEN NUGGET INC TL B | 0.57% | 99.48 | 98.92 | 15 |
| 17 | 3,420 | RCN GRANDE TL | 3.09% | 85.54 | 82.98 | 12 |
| 18 | 3,380 | SOLERA TL B | 1.66% | 94.04 | 92.51 | 12 |
| 19 | 3,300 | NTL CABLE PLC TL N | 0.03% | 99.23 | 99.20 | 11 |
| 20 | 3,190 | INTELSAT EXIT TL B | 0.13% | 99.78 | 99.64 | 14 |
| AVERAGE | 4,325 | 0.57% | 97.14 | 96.59 | 12.7 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/7/23-7/14/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | COMPREHENSIVE EYECARE PARTNERS TL | 8.65% | 80.25 | 73.87 | 8 |
| 2 | AIR MEDICAL TL B2 | 7.47% | 59.44 | 55.31 | 11 |
| 3 | PURE FISHING TL B | 4.78% | 75.80 | 72.34 | 8 |
| 4 | ACCURIDE TL B | 4.63% | 86.48 | 82.65 | 7 |
| 5 | WEST CORP TL B3 | 4.25% | 93.84 | 90.01 | 9 |
| 6 | IHEART TL B | 3.66% | 90.87 | 87.66 | 10 |
| 7 | THE NIELSEN COMPANY B.V. EUR TL B | 3.39% | 96.11 | 92.96 | 7 |
| 8 | RCN GRANDE TL | 3.09% | 85.54 | 82.98 | 12 |
| 9 | CBL & ASSOCIATES TL A | 3.03% | 82.73 | 80.29 | 7 |
| 10 | VET INTERMEDIATE TL B | 2.89% | 96.49 | 93.77 | 7 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/7/23-7/14/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SANDVINE TL | -8.29% | 85.71 | 93.46 | 4 |
| 2 | ZAYO TL | -2.90% | 76.88 | 79.17 | 12 |
| 3 | PRETIUM PACKAGING TL B | -2.14% | 73.12 | 74.72 | 11 |
| 4 | QWEST CORPORATION TL B | -1.63% | 75.18 | 76.43 | 8 |
| 5 | SI GROUP TL | -1.62% | 77.00 | 78.27 | 8 |
| 6 | LESLIE’S POOLMART TL B | -1.40% | 98.33 | 99.73 | 11 |
| 7 | LIGHTSTONE GENERATION LLC TL B | -0.64% | 89.61 | 90.19 | 8 |
| 8 | TRADESMEN TL | -0.59% | 57.35 | 57.69 | 10 |
| 9 | ARTERRA WINES CANANDA TL B1 | -0.49% | 96.59 | 97.07 | 10 |
| 10 | INMARSAT TL B | -0.39% | 99.53 | 99.92 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/7/23-7/14/23 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 7/7/23-7/14/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/7/23 vs. the week ending 7/14/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BMC SOFTWARE TL B | 73 | 128 | 55 | 75% |
| 2 | AMWINS TL B | 54 | 106 | 52 | 96% |
| 3 | ANCESTRY.COM TL B | 42 | 92 | 50 | 119% |
| 4 | DIRECTV TL | 90 | 133 | 43 | 48% |
| 5 | SS&C TECH TL B5 | 54 | 97 | 43 | 80% |
| 6 | REALPAGE TL B | 54 | 96 | 42 | 78% |
| 7 | CALPINE CORP TL B5 | 75 | 117 | 42 | 56% |
| 8 | CALPINE CORP TL B9 | 67 | 108 | 41 | 61% |
| 9 | BUCKEYE TL B | 70 | 110 | 40 | 57% |
| 10 | TRICORBRAUN TL B | 72 | 112 | 40 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/7/23-7/14/23
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | SIGMA BIDCO GBP TL B4 | 17 |
| 2 | ZIGGO EUR TL H | 17 |
| 3 | ZAYO TL | 17 |
| 4 | AMERICAN BATH TL | 17 |
| 5 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 16 |
| 6 | HILEX POLY TL B | 16 |
| 7 | TRANSDIGM INC. TL I | 16 |
| 8 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 9 | GRIFOLS WORLDWIDE EUR TL B | 16 |
| 10 | TELENET EUR TL | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/7/23-7/14/23
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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