Syndicated Bank Loan Market Summary – Week Ending 3/28/24
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Syndicated Bank Loan Market Summary: Week Ending 3/28/24
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 3/28/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Ankura Consulting Group LLC | Term Loan | 577 | 3/17/2028 | S+400 |
| Avantor Performance Materials Inc. | Term Loan | 772 | 11/1/2027 | S+200 |
| Tekni Plex Inc. | Term Loan | 876 | 9/17/2028 | S+400 |
forward calendar
Forward calendar during the week ending 3/28/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Agiliti Inc. | $300MM TL (B2/B) | JPM | Q2 2024 |
| Coherent Corp. | $2.443B TL | JPM | Q2 2024 |
| Imprivata | $1.102B TLB (B-) | GS | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 3/22/24 – 3/28/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,270 | MEDLINE TL B | 0.06% | 100.04 | 99.98 | 15 |
| 2 | 6,143 | MEDLINE TL B | 0.13% | 100.24 | 100.12 | 10 |
| 3 | 5,900 | ATHENAHEALTH TL | -0.20% | 98.83 | 99.02 | 10 |
| 4 | 5,385 | ULTIMATE SOFTWARE TL B | 0.08% | 100.46 | 100.38 | 15 |
| 5 | 4,860 | HUB INTL LTD TL B | 0.02% | 100.05 | 100.03 | 17 |
| 6 | 4,750 | ZAYO TL | -3.35% | 87.56 | 90.59 | 17 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.12% | 99.32 | 99.20 | 13 |
| 8 | 4,559 | TRANSDIGM INC. TL I | 0.10% | 100.22 | 100.12 | 19 |
| 9 | 4,525 | TRANSDIGM INC. TL I | 0.12% | 100.31 | 100.20 | 14 |
| 10 | 4,260 | NUMERICABLE TL B | -0.74% | 80.23 | 80.83 | 12 |
| 11 | 4,237 | INSPIRE BRANDS TL | 0.02% | 99.99 | 99.97 | 11 |
| 12 | 4,050 | CITRIX TL B | 0.14% | 99.46 | 99.32 | 12 |
| 13 | 3,900 | DIRECTV TL | 0.09% | 100.33 | 100.24 | 15 |
| 14 | 3,580 | CDK GLOBAL TL B | 0.08% | 100.32 | 100.24 | 15 |
| 15 | 3,500 | WESTINGHOUSE TL B | -0.03% | 99.85 | 99.88 | 15 |
| 16 | 3,500 | SEDGWICK TL B | 0.00% | 100.15 | 100.15 | 10 |
| 17 | 3,500 | AMERICAN AIRLINES TL B | 0.10% | 103.82 | 103.72 | 12 |
| 18 | 3,500 | PILOT TRAVEL TL B | -0.07% | 100.04 | 100.12 | 11 |
| 19 | 3,450 | GOLDEN NUGGET INC TL B | -0.02% | 100.14 | 100.16 | 14 |
| 20 | 3,420 | RCN GRANDE TL | -0.73% | 83.16 | 83.77 | 15 |
| AVERAGE | 4,451 | -0.20% | 97.73 | 97.90 | 13.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 3/22/24-3/28/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | NUMERICABLE TL B12 | 5.77% | 85.94 | 81.25 | 8 |
| 2 | MICHAELS STORES TL | 3.54% | 89.53 | 86.47 | 15 |
| 3 | HARLAND CLARKE TL | 3.51% | 96.90 | 93.62 | 11 |
| 4 | PIXELLE SPECIALTY SOLUTIONS TL B | 1.44% | 81.68 | 80.52 | 13 |
| 5 | CABLEVISION TL B6 | 1.30% | 96.01 | 94.78 | 7 |
| 6 | VERIFONE TL B | 0.88% | 88.29 | 87.52 | 12 |
| 7 | GOPHER RESOURCE TL | 0.77% | 89.35 | 88.67 | 10 |
| 8 | MULTI-COLOR EUR TL B | 0.75% | 95.67 | 94.95 | 10 |
| 9 | CAPITAL VISION SERVICES LLC TL | 0.70% | 99.74 | 99.04 | 15 |
| 10 | TRITON WATER TL B | 0.60% | 98.93 | 98.34 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 3/22/24-3/28/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ASURION 2ND LIEN TL B3 | -5.56% | 89.86 | 95.15 | 10 |
| 2 | KLOECKNER EUR TL B | -5.43% | 87.13 | 92.14 | 14 |
| 3 | SANDVINE TL | -5.02% | 69.29 | 72.95 | 10 |
| 4 | AMERICAN TIRE TL B | -4.73% | 85.94 | 90.20 | 11 |
| 5 | ZAYO TL | -3.35% | 87.56 | 90.59 | 17 |
| 6 | USS PARENT TL B | -2.64% | 76.01 | 78.07 | 13 |
| 7 | HUWS GRAY GBP TL B | -2.43% | 86.93 | 89.10 | 8 |
| 8 | COMMSCOPE TL B2 | -2.37% | 89.92 | 92.10 | 11 |
| 9 | CRH EUROPE EUR TL B | -1.87% | 96.58 | 98.42 | 14 |
| 10 | SKILLSOFT TL B | -1.78% | 89.14 | 90.75 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/22/24-3/28/24 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 3/22/24-3/28/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/22/24 vs. the week ending 3/28/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TRANSDIGM INC. TL K | 56 | 82 | 26 | 46% |
| 2 | TRANSDIGM INC. TL I | 64 | 84 | 20 | 31% |
| 3 | INMARSAT TL B | 14 | 32 | 18 | 129% |
| 4 | JMC STEEL TL B | 6 | 24 | 18 | 300% |
| 5 | VISTRA ENERGY TL B | 20 | 38 | 18 | 90% |
| 6 | VISUAL COMFORT 2ND LIEN TL | 2 | 20 | 18 | 900% |
| 7 | ADVISOR GROUP TL B | 36 | 54 | 18 | 50% |
| 8 | HB FULLER TL B | 10 | 26 | 16 | 160% |
| 9 | SITEL LLC / SITEL FIN CORP TL B | 46 | 62 | 16 | 35% |
| 10 | GARDA SECURITY TL B | 30 | 46 | 16 | 53% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/22/24-3/28/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 19 |
| 2 | TRANSDIGM INC. TL J | 17 |
| 3 | HUB INTL LTD TL B | 17 |
| 4 | ZIGGO EUR TL H | 17 |
| 5 | TELENET EUR TL | 17 |
| 6 | FRONERI TL B | 17 |
| 7 | ZAYO TL | 17 |
| 8 | GATES GLOBAL TL B3 | 17 |
| 9 | EKATERRA EUR TL B | 17 |
| 10 | ALKEGEN TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/22/24-3/28/24
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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