Syndicated Bank Loan Market Summary – Week Ending 1/26/24
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Syndicated Bank Loan Market Summary: Week Ending 1/26/24
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 1/26/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| TMF Group Hldg B.V. | 955 | Term Loan | 5/1/2028 | L+375 |
| Caesars Entertainment Inc. | 2900 | Term Loan | 1/18/2031 | S+275 |
| Ahead DB Borrower LLC | 600 | Term Loan | 1/17/2031 | S+425 |
forward calendar
Forward calendar during the week ending 1/26/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Adient | $635MM TLB2 | BofA | Q1 2024 |
| Ankura Consulting Group LLC | $577.1MM TL | DB | Q1 2024 |
| Crocs Inc. | $820MM TLB | CITI,HSBC,MS,PNC | Q1 2024 |
| Kohler Energy | $1.625B TLB | BofA,GS,BMO,DB,HSBC,MIZ | Q1 2024 |
| Savers Inc. | $323MM TLB | KKR | Q1 2024 |
| Vistage Worldwide | $125MM TL | GLB | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/19/24 – 1/26/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.05% | 102.30 | 102.26 | 11 |
| 2 | 7,270 | MEDLINE TL B | -0.11% | 99.93 | 100.04 | 13 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.26% | 100.45 | 100.19 | 13 |
| 4 | 4,750 | HUB INTL LTD TL B5 | -0.01% | 100.01 | 100.02 | 15 |
| 5 | 4,750 | ZAYO TL | 0.49% | 84.28 | 83.86 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.19% | 98.02 | 98.20 | 13 |
| 7 | 4,559 | TRANSDIGM INC. TL I | -0.12% | 100.13 | 100.25 | 18 |
| 8 | 4,463 | ULTIMATE SOFTWARE TL B | -0.03% | 99.95 | 99.98 | 13 |
| 9 | 4,415 | ICON PLC TL B | -0.09% | 100.10 | 100.20 | 10 |
| 10 | 4,050 | CITRIX TL B | 0.33% | 97.98 | 97.65 | 14 |
| 11 | 3,900 | DIRECTV TL | 0.15% | 99.88 | 99.72 | 19 |
| 12 | 3,580 | CDK GLOBAL TL B | -0.09% | 100.17 | 100.26 | 15 |
| 13 | 3,550 | CITADEL TL B | -0.05% | 99.82 | 99.87 | 12 |
| 14 | 3,500 | SEDGWICK TL B | -0.11% | 100.11 | 100.22 | 10 |
| 15 | 3,500 | PILOT TRAVEL TL B | -0.15% | 99.93 | 100.08 | 12 |
| 16 | 3,500 | AMERICAN AIRLINES TL B | -0.03% | 102.48 | 102.51 | 14 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | -0.18% | 99.73 | 99.90 | 14 |
| 18 | 3,420 | RCN GRANDE TL | 0.43% | 80.85 | 80.51 | 15 |
| 19 | 3,380 | SOLERA TL B | -0.22% | 97.65 | 97.86 | 15 |
| 20 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.22% | 91.98 | 91.77 | 10 |
| AVERAGE | 4,385 | 0.03% | 97.79 | 97.77 | 13.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 1/19/24-1/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SI GROUP TL | 9.03% | 65.92 | 60.46 | 12 |
| 2 | RSA SECURITY LLC TL B | 7.65% | 82.21 | 76.36 | 7 |
| 3 | ELECTRONICS FOR IMAGING TL | 6.72% | 62.21 | 58.29 | 8 |
| 4 | AIR MEDICAL TL B2 | 5.21% | 84.50 | 80.31 | 9 |
| 5 | CARESTREAM HEALTH TL B | 4.23% | 81.00 | 77.71 | 7 |
| 6 | SINCLAIR BROADCAST GROUP INC. TL B4 | 3.91% | 89.03 | 85.68 | 9 |
| 7 | ANASTASIA BEVERLY HILLS TL B | 3.64% | 68.46 | 66.05 | 11 |
| 8 | POWER BUYER TL | 3.26% | 99.50 | 96.35 | 7 |
| 9 | TEAM HEALTH EXT TL B | 3.16% | 82.66 | 80.13 | 8 |
| 10 | OMNI LOGISTICS TL B | 2.76% | 97.60 | 94.98 | 4 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/19/24-1/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | COVIS PHARMA TL B | -54.48% | 31.99 | 70.28 | 5 |
| 2 | THILEA TL B | -11.38% | 25.00 | 28.21 | 7 |
| 3 | WIDEOPENWEST TL B | -3.29% | 88.23 | 91.23 | 12 |
| 4 | CONSTELLATION ENTERPRISES 2ND LIEN GBP TL | -2.93% | 72.81 | 75.00 | 12 |
| 5 | AMC ENTERTAINMENT TL B1 | -2.59% | 78.32 | 80.40 | 14 |
| 6 | PLANET FITNESS TL | -2.40% | 86.49 | 88.62 | 7 |
| 7 | RACKSPACE HOSTING TL B | -2.34% | 42.72 | 43.74 | 12 |
| 8 | COMMSCOPE TL B2 | -1.74% | 87.45 | 89.00 | 13 |
| 9 | SAPEC AGRO SA EUR TL B | -1.60% | 96.79 | 98.36 | 11 |
| 10 | TWIN RIVER TL B | -1.27% | 93.45 | 94.66 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/19/24-1/26/24 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 1/19/24-1/26/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/19/24 vs. the week ending 1/26/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HUSKY INJECTION MOLDING TL B | 36 | 92 | 56 | 156% |
| 2 | CAST & CREW TL | 66 | 106 | 40 | 61% |
| 3 | AMWINS TL B | 94 | 130 | 36 | 38% |
| 4 | GATES GLOBAL TL B4 | 71 | 106 | 35 | 49% |
| 5 | HILTON GRAND VACATIONS BORROWER TL B | 16 | 50 | 34 | 213% |
| 6 | SIGNATURE AVIATION TL B2 | 12 | 44 | 32 | 267% |
| 7 | GRAHAM PACKAGING TL B | 82 | 114 | 32 | 39% |
| 8 | ACPRODUCTS TL B | 42 | 74 | 32 | 76% |
| 9 | SINCLAIR BROADCAST GROUP INC. TL B3 | 43 | 74 | 31 | 72% |
| 10 | EDELMAN FINANCIAL TL B | 84 | 114 | 30 | 36% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/19/24-1/26/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | DIRECTV TL | 19 |
| 2 | ALKEGEN TL B | 18 |
| 3 | HEARTHSIDE FOODS TL B | 18 |
| 4 | ZIGGO EUR TL H | 18 |
| 5 | HILEX POLY TL B | 18 |
| 6 | TRANSDIGM INC. TL I | 18 |
| 7 | WESTINGHOUSE TL B | 18 |
| 8 | CAPITAL VISION SERVICES LLC TL | 17 |
| 9 | TELENET EUR TL | 17 |
| 10 | KANTAR EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/19/24-1/26/24
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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