Syndicated Bank Loan Market Summary – Week Ending 9/8/23
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 9/8/23
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 9/8/23
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| International Textile Group | 100 | Term Loan | 9/30/2027 | S+850 |
| Accuride Corp. | 282 | Term Loan | 5/18/2026 | S+750 |
forward calendar
Forward calendar during the week ending 9/8/23
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Waterbridge Midstream Operating LLC | $150MM TLB | Q3 2023 | |
| Aramark Uniform Services | $1.8B credit facilities: $300MM RC; $1.5B TL | Q3 2023 | |
| CHG Healthcare | $580MM TL (B2/B) | GS,JPM,BCLY,BMO,CITI | Q3 2023 |
| Forward Air Corp. | $400MM revolver | MS,CITI,GS,JPM | Q3 2023 |
| Simon & Schuster | $1.1B credit facilities | JEFF,KKR,UBS,HSBC,RBC | Q3 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/1/23 – 9/8/23
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.11% | 101.59 | 101.48 | 10 |
| 2 | 7,270 | MEDLINE TL B | 0.04% | 99.94 | 99.89 | 11 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.07% | 100.19 | 100.12 | 13 |
| 4 | 5,000 | QWEST CORPORATION TL B | 0.22% | 65.52 | 65.38 | 13 |
| 5 | 4,750 | ZAYO TL | -0.25% | 79.71 | 79.91 | 15 |
| 6 | 4,750 | HUB INTL LTD TL B5 | 0.14% | 100.52 | 100.38 | 15 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.21% | 96.22 | 96.02 | 12 |
| 8 | 4,741 | INTERNET BRANDS TL B | 0.21% | 96.22 | 96.02 | 12 |
| 9 | 4,559 | TRANSDIGM INC. TL I | 0.09% | 100.14 | 100.05 | 21 |
| 10 | 4,463 | ULTIMATE SOFTWARE TL B | 0.03% | 99.87 | 99.84 | 12 |
| 11 | 4,260 | NUMERICABLE TL B | 1.76% | 88.97 | 87.43 | 11 |
| 12 | 4,260 | NUMERICABLE TL B | 1.76% | 88.97 | 87.43 | 11 |
| 13 | 4,050 | CITRIX TL B | -0.25% | 95.98 | 96.23 | 10 |
| 14 | 3,900 | DIRECTV TL | 0.02% | 98.80 | 98.78 | 15 |
| 15 | 3,600 | CDK GLOBAL TL | 0.06% | 100.15 | 100.09 | 12 |
| 16 | 3,600 | CDK GLOBAL TL | 0.06% | 100.15 | 100.09 | 12 |
| 17 | 3,582 | MISYS TL B | -0.01% | 99.88 | 99.88 | 11 |
| 18 | 3,515 | LIFEPOINT HOSPITALS TL B | 0.14% | 99.25 | 99.11 | 10 |
| 19 | 3,500 | AMERICAN AIRLINES TL B | 0.07% | 103.88 | 103.81 | 12 |
| 20 | 3,500 | PILOT TRAVEL TL B | 0.11% | 99.96 | 99.86 | 11 |
| AVERAGE | 4,581 | 0.23% | 95.80 | 95.59 | 12.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/1/23-9/8/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | EAGLEPICHER TL | 19.97% | 96.71 | 80.61 | 8 |
| 2 | BAY CLUB 2ND LIEN TL | 4.09% | 85.29 | 81.94 | 5 |
| 3 | WP CPP 2ND LIEN TL | 3.42% | 84.63 | 81.83 | 8 |
| 4 | CARESTREAM HEALTH TL B | 3.33% | 77.29 | 74.80 | 6 |
| 5 | CORRECT CARE TL B | 2.81% | 78.21 | 76.07 | 9 |
| 6 | NEP TL B | 2.66% | 95.80 | 93.31 | 10 |
| 7 | THE NIELSEN COMPANY B.V. TL B | 2.61% | 95.14 | 92.72 | 8 |
| 8 | MAVENIR TL B | 2.61% | 77.41 | 75.44 | 5 |
| 9 | CUMULUS MEDIA TL | 2.57% | 81.02 | 78.99 | 11 |
| 10 | ACCENTCARE INC TL B | 2.54% | 86.93 | 84.77 | 5 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/1/23-9/8/23
| RANK | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SOUND PHYSICIANS TL | -10.59% | 48.18 | 53.89 | 7 |
| 2 | HERITAGE POWER TL B | -5.68% | 20.53 | 21.77 | 7 |
| 3 | SINCLAIR BROADCAST GROUP INC. TL B3 | -5.14% | 71.00 | 74.84 | 6 |
| 4 | COMPREHENSIVE EYECARE PARTNERS TL | -3.43% | 74.11 | 76.75 | 10 |
| 5 | RADIOLOGY PARTNERS TL B | -2.51% | 74.81 | 76.73 | 11 |
| 6 | INNOVATIVE XCESSORIES TL | -1.91% | 85.30 | 86.95 | 8 |
| 7 | PACKERS HOLDINGS TL | -1.34% | 64.73 | 65.61 | 13 |
| 8 | GRAY TELEVISION TL D | -1.25% | 97.48 | 98.72 | 10 |
| 9 | ANASTASIA BEVERLY HILLS TL B | -1.24% | 73.06 | 73.98 | 9 |
| 10 | TENNECO TL B | -1.13% | 84.03 | 84.99 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/1/23-9/8/23 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 9/1/23-9/8/23
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/1/23 vs. the week ending 9/8/23
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | NESTLE SKIN HEALTH EUR TL B | 16 | 52 | 36 | 225% |
| 2 | OBERTHUR TECHNOLOGIES SA EUR TL B | 6 | 42 | 36 | 600% |
| 3 | ESMALGLASS EUR TL B | 0 | 34 | 34 | NA |
| 4 | ROCKET SOFTWARE EUR TL | 6 | 40 | 34 | 567% |
| 5 | TECHEM EUR TL B4 | 12 | 45 | 33 | 275% |
| 6 | ZAYO EUR TL | 20 | 52 | 32 | 160% |
| 7 | APEX GROUP EUR TL B | 0 | 32 | 32 | NA |
| 8 | BUSY BEES EUR TL B | 6 | 37 | 31 | 517% |
| 9 | ION TRADING EUR TL B | 14 | 45 | 31 | 221% |
| 10 | UNIVERSAL SERVICES EUR TL B | 8 | 39 | 31 | 388% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/1/23-9/8/23
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 21 |
| 2 | ZIGGO EUR TL H | 18 |
| 3 | TELENET EUR TL | 18 |
| 4 | HILEX POLY TL B | 17 |
| 5 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 6 | UPC HOLDING BV EUR TL | 17 |
| 7 | NTL CABLE PLC GBP TL M | 16 |
| 8 | NORD ANGLIA EDUCATION FINANC EUR TL B | 16 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 10 | EIRCOM FINCO SARL EUR TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/1/23-9/8/23
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.
