Syndicated Bank Loan Market Summary – Week Ending 3/15/24
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Syndicated Bank Loan Market Summary: Week Ending 3/15/24
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 3/15/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Canister Intl. Group Inc. | Term Loan | 500 | 3/1/2029 | S+400 |
| Stubhub | Term Loan | 1953 | 3/1/2030 | S+500 |
| Topgolf Callaway Brands Corp | Term Loan | 1241 | 3/16/2030 | S+300 |
forward calendar
Forward calendar during the week ending 3/15/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Avantor | $772MM TLB | GS | Q1 2024 |
| Azz Inc. | $980MM TLB (Ba3/B/BB+) | CITI,WF,BCLY,USB,CIBC | Q1 2024 |
| Entegris | $960MM TLB | MS,BofA,BCLY,CITI,GS | Q1 2024 |
| US Silica Co. | $843MM TLB (B1) | BNP,MUFG | Q1 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 3/8/24 – 3/15/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | -0.14% | 99.99 | 100.13 | 13 |
| 2 | 5,900 | ATHENAHEALTH TL | 0.11% | 99.30 | 99.19 | 10 |
| 3 | 5,385 | ULTIMATE SOFTWARE TL B | 0.16% | 100.41 | 100.25 | 15 |
| 4 | 5,000 | UNITED CONTINENTAL TL B | 0.22% | 100.12 | 99.90 | 13 |
| 5 | 4,860 | HUB INTL LTD TL B | 0.01% | 99.99 | 99.98 | 17 |
| 6 | 4,750 | ZAYO TL | 0.11% | 90.76 | 90.66 | 16 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.39% | 99.16 | 98.78 | 13 |
| 8 | 4,559 | TRANSDIGM INC. TL I | -0.22% | 100.07 | 100.29 | 19 |
| 9 | 4,237 | INSPIRE BRANDS TL | 0.03% | 99.95 | 99.92 | 10 |
| 10 | 4,050 | CITRIX TL B | -0.53% | 98.95 | 99.48 | 12 |
| 11 | 3,900 | DIRECTV TL | 0.02% | 100.05 | 100.02 | 14 |
| 12 | 3,580 | CDK GLOBAL TL B | -0.04% | 100.20 | 100.24 | 15 |
| 13 | 3,500 | WESTINGHOUSE TL B | 0.05% | 99.85 | 99.80 | 11 |
| 14 | 3,500 | SEDGWICK TL B | -0.02% | 100.21 | 100.23 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.10% | 103.65 | 103.56 | 12 |
| 16 | 3,500 | PILOT TRAVEL TL B | 0.03% | 100.10 | 100.07 | 11 |
| 17 | 3,450 | GOLDEN NUGGET INC TL B | 0.03% | 100.03 | 100.00 | 14 |
| 18 | 3,420 | RCN GRANDE TL | 0.93% | 82.64 | 81.88 | 14 |
| 19 | 3,380 | SOLERA TL B | 0.29% | 98.52 | 98.23 | 15 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.04% | 99.04 | 99.00 | 12 |
| AVERAGE | 4,289 | 0.08% | 98.65 | 98.58 | 13.3 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 3/8/24-3/15/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | WESTERN DENTAL TL B | 8.47% | 59.43 | 54.79 | 9 |
| 2 | AIR MEDICAL TL B2 | 5.65% | 93.18 | 88.19 | 8 |
| 3 | MEDICAL SOLUTIONS TL | 4.03% | 90.20 | 86.71 | 8 |
| 4 | COX ENTERPRISES, INC. TL B | 3.99% | 85.29 | 82.02 | 9 |
| 5 | VERIFONE TL B | 3.71% | 90.17 | 86.94 | 11 |
| 6 | TOSCA SERVICES TL | 3.60% | 86.97 | 83.95 | 10 |
| 7 | DUPAGE MEDICAL GROUP TL B | 3.56% | 82.91 | 80.07 | 7 |
| 8 | EKATERRA EUR TL B | 2.49% | 94.60 | 92.30 | 17 |
| 9 | PATHWAY PARTNERS VET MANAGEMENT TL | 2.36% | 87.44 | 85.42 | 12 |
| 10 | AMERICAN TIRE TL B | 2.36% | 92.52 | 90.38 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 3/8/24-3/15/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SITEL LLC / SITEL FIN CORP EUR TL B | -9.48% | 85.62 | 94.58 | 10 |
| 2 | TWIN RIVER TL B | -1.71% | 93.95 | 95.59 | 13 |
| 3 | PETCO TL B | -0.97% | 94.98 | 95.91 | 12 |
| 4 | GRIFOLS WORLDWIDE TL B | -0.87% | 96.53 | 97.37 | 11 |
| 5 | SINCLAIR BROADCAST GROUP INC. TL B4 | -0.84% | 82.44 | 83.14 | 8 |
| 6 | SKILLSOFT TL B | -0.83% | 92.00 | 92.77 | 8 |
| 7 | SECTOR ALARM HOLDING EUR TL B1 | -0.80% | 95.50 | 96.27 | 14 |
| 8 | DELL SOFTWARE GROUP TL B | -0.73% | 78.56 | 79.14 | 13 |
| 9 | COBHAM TL B | -0.54% | 97.94 | 98.47 | 6 |
| 10 | CITRIX TL B | -0.53% | 98.95 | 99.48 | 12 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/8/24-3/15/24 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 3/8/24-3/15/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/8/24 vs. the week ending 3/15/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | LUMMUS TECHNOLOGY TL | 34 | 60 | 26 | 76% |
| 2 | CROSBY TL | 26 | 50 | 24 | 92% |
| 3 | MEILLEURTAUX EUR TL B | 12 | 34 | 22 | 183% |
| 4 | CONSOLIDATED ENERGY TL B | 23 | 44 | 21 | 91% |
| 5 | AMERICAN GAMING TL B | 20 | 40 | 20 | 100% |
| 6 | ADVISOR GROUP TL B | 22 | 42 | 20 | 91% |
| 7 | FOUR SEASONS TL B | 44 | 64 | 20 | 45% |
| 8 | BELLIS ACQUISITION CO PLC EUR TL B | 34 | 54 | 20 | 59% |
| 9 | TK ELEVATOR EUR TL B | 16 | 34 | 18 | 113% |
| 10 | ARCLIN TL | 56 | 74 | 18 | 32% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/8/24-3/15/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 20 |
| 2 | ALKEGEN TL B | 18 |
| 3 | TENNECO TL B | 17 |
| 4 | HUB INTL LTD TL B | 17 |
| 5 | TELENET EUR TL | 17 |
| 6 | ZIGGO EUR TL H | 17 |
| 7 | FRONERI TL B | 17 |
| 8 | EKATERRA EUR TL B | 17 |
| 9 | TRANSDIGM INC. TL J | 16 |
| 10 | STADA ARZNEIMITTEL EUR TL F | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/8/24-3/15/24
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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