Syndicated Bank Loan Market Summary – Week Ending 3/1/24
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Syndicated Bank Loan Market Summary: Week Ending 3/1/24
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 3/1/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Triton Water Hldg Inc. | 400 | Term Loan | 3/31/2028 | S+400 |
| K-MAC Hldgs Corp. | 115 | Term Loan | 7/1/2028 | S+425 |
| Blackhawk Network Holdings Inc. | 1900 | Term Loan | 2/14/2029 | S+500 |
forward calendar
Forward calendar during the week ending 3/1/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Allison Transmission Inc. | $515MM TLB | CITI | Q1 2024 |
| Quickbase | $415MM TL | GLB | Q1 2024 |
| TK Elevator | $2.941MM TLB | GS,BCLY,CA,DB,UBS | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 2/23/24 – 3/1/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.03% | 100.01 | 99.98 | 12 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.13% | 100.16 | 100.04 | 14 |
| 3 | 5,000 | UNITED CONTINENTAL TL B | 0.00% | 99.91 | 99.91 | 14 |
| 4 | 4,860 | HUB INTL LTD TL B | 0.01% | 99.88 | 99.87 | 17 |
| 5 | 4,750 | ZAYO TL | 2.93% | 89.86 | 87.30 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.43% | 98.38 | 97.96 | 12 |
| 7 | 4,559 | TRANSDIGM INC. TL I | 0.01% | 100.19 | 100.18 | 22 |
| 8 | 4,050 | CITRIX TL B | 0.22% | 99.11 | 98.89 | 12 |
| 9 | 3,900 | DIRECTV TL | -0.11% | 99.80 | 99.91 | 14 |
| 10 | 3,580 | CDK GLOBAL TL B | 0.06% | 100.22 | 100.16 | 13 |
| 11 | 3,500 | WESTINGHOUSE TL B | 0.14% | 99.63 | 99.48 | 10 |
| 12 | 3,500 | AMERICAN AIRLINES TL B | 0.21% | 103.38 | 103.16 | 12 |
| 13 | 3,500 | PILOT TRAVEL TL B | 0.09% | 99.95 | 99.86 | 12 |
| 14 | 3,450 | GOLDEN NUGGET INC TL B | -0.11% | 100.00 | 100.12 | 14 |
| 15 | 3,420 | RCN GRANDE TL | 1.92% | 81.83 | 80.28 | 15 |
| 16 | 3,380 | SOLERA TL B | -0.45% | 97.73 | 98.17 | 14 |
| 17 | 3,300 | NTL CABLE PLC TL N | 0.16% | 99.00 | 98.84 | 11 |
| 18 | 3,200 | COMMSCOPE TL B2 | 1.29% | 88.70 | 87.57 | 12 |
| 19 | 3,175 | MAGENTA BUYER LLC TL | -0.33% | 59.73 | 59.93 | 10 |
| 20 | 3,000 | DELTA SKYMILES TL B | 0.12% | 102.77 | 102.65 | 14 |
| AVERAGE | 4,076 | 0.34% | 96.01 | 95.71 | 13.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 2/23/24-3/1/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | COMPREHENSIVE EYECARE PARTNERS DD 2ND LIEN TL | 18.59% | 33.96 | 28.64 | 5 |
| 2 | PRETIUM PACKAGING 2ND LIEN TL | 16.63% | 58.40 | 50.07 | 9 |
| 3 | SOUND PHYSICIANS TL | 15.90% | 45.47 | 39.23 | 7 |
| 4 | WESTERN DENTAL TL B | 5.27% | 53.52 | 50.84 | 9 |
| 5 | SCREENVISION MEDIA TL B | 5.14% | 68.87 | 65.50 | 3 |
| 6 | RESEARCH NOW TL | 4.16% | 57.03 | 54.76 | 9 |
| 7 | AVISON YOUNG TL | 4.08% | 36.99 | 35.54 | 7 |
| 8 | TRILLIANT FOOD TL B | 3.46% | 96.11 | 92.89 | 5 |
| 9 | EQUINOX HLDGS INC 2ND LIEN TL | 3.03% | 99.17 | 96.25 | 10 |
| 10 | IHEART TL B | 2.99% | 88.01 | 85.45 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 2/23/24-3/1/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACCELL GROUP EUR TL B | -13.13% | 38.13 | 43.90 | 12 |
| 2 | LIFESCAN TL B | -10.60% | 64.33 | 71.96 | 6 |
| 3 | WEIGHT WATCHERS TL B | -10.20% | 51.50 | 57.35 | 12 |
| 4 | VERIFONE TL B | -9.99% | 85.66 | 95.17 | 8 |
| 5 | DUPAGE MEDICAL GROUP TL B | -3.74% | 79.04 | 82.12 | 8 |
| 6 | PHYSICIAN PARTNERS TL | -3.39% | 87.98 | 91.07 | 6 |
| 7 | EMBECTA TL B | -2.33% | 91.33 | 93.51 | 10 |
| 8 | SITEL LLC / SITEL FIN CORP EUR TL B | -1.83% | 96.35 | 98.15 | 10 |
| 9 | CHEMOURS TL B | -1.67% | 97.92 | 99.58 | 8 |
| 10 | WIDEOPENWEST TL B | -1.42% | 85.01 | 86.23 | 12 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 2/23/24-3/1/24 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 2/23/24-3/1/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/23/24 vs. the week ending 3/1/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HILEX POLY TL B | 38 | 118 | 80 | 211% |
| 2 | TRANSUNION TL B | 46 | 102 | 56 | 122% |
| 3 | HUB INTL LTD TL B | 68 | 122 | 54 | 79% |
| 4 | BUCKEYE TL B3 | 22 | 74 | 52 | 236% |
| 5 | PRO MACH TL B | 50 | 100 | 50 | 100% |
| 6 | HYPERION TL B | 56 | 96 | 40 | 71% |
| 7 | EDELMAN FINANCIAL TL B | 80 | 120 | 40 | 50% |
| 8 | GATES GLOBAL TL B3 | 91 | 128 | 37 | 41% |
| 9 | WHATABURGER TL B | 65 | 102 | 37 | 57% |
| 10 | EOC GROUP TL B | 44 | 80 | 36 | 82% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/23/24-3/1/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 22 |
| 2 | ALKEGEN TL B | 19 |
| 3 | ZIGGO EUR TL H | 17 |
| 4 | EKATERRA EUR TL B | 17 |
| 5 | HUB INTL LTD TL B | 17 |
| 6 | TENNECO TL B | 16 |
| 7 | TRANSDIGM INC. TL J | 16 |
| 8 | HEARTHSIDE FOODS TL B | 16 |
| 9 | FRONERI TL B | 16 |
| 10 | STADA ARZNEIMITTEL EUR TL F | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/23/24-3/1/24
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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