Syndicated Bank Loan Market Summary – Week Ending 2/16/24
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Syndicated Bank Loan Market Summary: Week Ending 2/16/24
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 2/16/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Wrench Group LLC | 744 | Term Loan | 10/30/2028 | S+400 |
| AccentCare Inc. | 179 | Term Loan | 6/20/2028 | S+550 |
| Ultimate Software Group | 5385 | Term Loan | 1/31/2031 | S+350 |
| Playcore Inc. | 1100 | Term Loan | 2/2/2030 | S+450 |
forward calendar
Forward calendar during the week ending 2/16/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Allison Transmission Inc. | $515MM TLB | CITI | Q1 2024 |
| Dayforce | $650MM TLB | JPM | Q1 2024 |
| First Eagle Investment Management | $1.775B TLB | MS | Q1 2024 |
| Fullbloom | $100MM TL | JPM | Q1 2024 |
| Osaic Inc. | $500MM TL (B1/B/B+) | UBS | Q1 2024 |
| Vestis Corp. | $800MM TLB (Ba2/BB+) | WF | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 2/9/24 – 2/16/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.04% | 102.10 | 102.06 | 10 |
| 2 | 7,270 | MEDLINE TL B | 0.07% | 99.88 | 99.80 | 12 |
| 3 | 5,385 | ULTIMATE SOFTWARE TL B | 0.07% | 99.95 | 99.89 | 12 |
| 4 | 5,000 | QWEST CORPORATION TL B | -1.12% | 70.96 | 71.76 | 10 |
| 5 | 5,000 | UNITED CONTINENTAL TL B | -0.12% | 99.91 | 100.03 | 14 |
| 6 | 4,750 | HUB INTL LTD TL B5 | -0.04% | 99.75 | 99.79 | 12 |
| 7 | 4,750 | HUB INTL LTD TL B | -0.04% | 99.85 | 99.88 | 14 |
| 8 | 4,750 | ZAYO TL | 0.08% | 84.52 | 84.45 | 14 |
| 9 | 4,741 | INTERNET BRANDS TL B | 0.22% | 97.61 | 97.39 | 12 |
| 10 | 4,559 | TRANSDIGM INC. TL I | 0.15% | 100.11 | 99.96 | 22 |
| 11 | 4,463 | ULTIMATE SOFTWARE TL B | 0.09% | 100.00 | 99.91 | 15 |
| 12 | 4,050 | CITRIX TL B | 0.61% | 98.67 | 98.07 | 13 |
| 13 | 3,900 | DIRECTV TL | 0.10% | 99.89 | 99.79 | 16 |
| 14 | 3,580 | CDK GLOBAL TL B | 0.03% | 100.10 | 100.08 | 15 |
| 15 | 3,550 | CITADEL TL B | 0.02% | 99.75 | 99.73 | 10 |
| 16 | 3,500 | SEDGWICK TL B | 0.10% | 100.01 | 99.92 | 10 |
| 17 | 3,500 | AMERICAN AIRLINES TL B | 0.26% | 102.56 | 102.30 | 13 |
| 18 | 3,500 | PILOT TRAVEL TL B | 0.03% | 99.87 | 99.84 | 13 |
| 19 | 3,500 | WESTINGHOUSE TL B | -0.01% | 99.40 | 99.41 | 11 |
| 20 | 3,450 | GOLDEN NUGGET INC TL B | 0.16% | 100.03 | 99.88 | 14 |
| AVERAGE | 4,589 | 0.03% | 97.75 | 97.70 | 13.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 2/9/24-2/16/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | 8TH AVENUE FOOD & PROVISIONS 2ND LIEN TL | 8.18% | 88.00 | 81.34 | 5 |
| 2 | SOUND PHYSICIANS TL | 8.15% | 35.19 | 32.54 | 6 |
| 3 | SCREENVISION MEDIA TL B | 6.52% | 62.52 | 58.69 | 3 |
| 4 | IQOR PIK SO TL | 4.65% | 81.81 | 78.18 | 6 |
| 5 | HEALTHCHANNELS TL | 3.83% | 69.84 | 67.27 | 5 |
| 6 | ALLOHEIM EUR TL B | 3.73% | 96.27 | 92.81 | 12 |
| 7 | PRETIUM PACKAGING TL B | 3.56% | 84.52 | 81.61 | 9 |
| 8 | HDT GLOBAL TL B | 3.40% | 49.34 | 47.72 | 6 |
| 9 | INTERIOR LOGIC TL B | 2.87% | 93.28 | 90.68 | 8 |
| 10 | SCIONHEALTH TL B | 2.52% | 38.70 | 37.75 | 4 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 2/9/24-2/16/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACCELL GROUP EUR TL B | -16.44% | 47.60 | 56.97 | 12 |
| 2 | RESEARCH NOW TL | -11.79% | 54.13 | 61.37 | 8 |
| 3 | ENDO HEALTH TL B | -4.32% | 65.50 | 68.45 | 6 |
| 4 | CONVERGEONE TL B | -4.28% | 43.00 | 44.93 | 7 |
| 5 | MAGENTA BUYER LLC TL B | -4.00% | 66.11 | 68.87 | 7 |
| 6 | HEARTHSIDE FOODS TL B2 | -3.50% | 74.47 | 77.17 | 12 |
| 7 | SABRE TL B | -3.00% | 88.48 | 91.22 | 6 |
| 8 | ICP GROUP TL | -2.51% | 78.87 | 80.90 | 6 |
| 9 | CORRECT CARE TL B | -2.10% | 78.82 | 80.52 | 9 |
| 10 | TRINSEO TL B | -2.07% | 74.53 | 76.11 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/9/24-2/16/24 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 2/9/24-2/16/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/9/24 vs. the week ending 2/16/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SS&C TECH TL B | 0 | 48 | 48 | NA |
| 2 | INSPIRE BRANDS TL | 34 | 78 | 44 | 129% |
| 3 | SGG EUR TL B | 10 | 48 | 38 | 380% |
| 4 | VISUAL COMFORT 2ND LIEN TL | 30 | 58 | 28 | 93% |
| 5 | SEAWORLD TL B | 10 | 36 | 26 | 260% |
| 6 | SIGNATURE AVIATION TL B2 | 45 | 71 | 26 | 58% |
| 7 | RENAISSANCE LEARNING TL | 52 | 78 | 26 | 50% |
| 8 | HUB INTL LTD TL B | 75 | 100 | 25 | 33% |
| 9 | NATIONAL INTERGOVERNMENT TL B | 20 | 44 | 24 | 120% |
| 10 | HYPERION TL B | 46 | 70 | 24 | 52% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/9/24-2/16/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 22 |
| 2 | ALKEGEN TL B | 18 |
| 3 | ZIGGO EUR TL H | 18 |
| 4 | VERISURE EUR TL B | 18 |
| 5 | TELENET EUR TL | 18 |
| 6 | TRANSDIGM INC. TL J | 17 |
| 7 | FRONERI TL B | 17 |
| 8 | STADA ARZNEIMITTEL EUR TL F | 17 |
| 9 | BELLIS ACQUISITION CO PLC EUR TL B | 17 |
| 10 | KANTAR EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/9/24-2/16/24
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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