Syndicated Bank Loan Market Summary – Week Ending 4/5/24
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Syndicated Bank Loan Market Summary: Week Ending 4/5/24
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 4/5/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Agiliti Health Inc. | Term Loan | 400 | 5/1/2030 | S+300 |
| Crisis Prevention Institute | Term Loan | 400 | 3/19/2031 | S+475 |
| Paradigm Outcomes | Term Loan | 700 | 3/20/2031 | S+425 |
forward calendar
Forward calendar during the week ending 4/5/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Amawaterways LLC | $525M TLB (B2/B) | JPM | Q2 2024 |
| Cushman & Wakefield | $998M TLB | JPM | Q2 2024 |
| Endo | $1.65B credit facilities (B2/B+) | JPM | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 3/28/24 – 4/5/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | -0.77% | 101.70 | 102.49 | 11 |
| 2 | 7,270 | MEDLINE TL B | 0.20% | 100.24 | 100.04 | 15 |
| 3 | 6,143 | MEDLINE TL B | 0.09% | 100.33 | 100.24 | 12 |
| 4 | 5,900 | ATHENAHEALTH GROUP INC TL | 0.18% | 99.01 | 98.83 | 10 |
| 5 | 5,385 | ULTIMATE SOFTWARE TL B | -0.11% | 100.35 | 100.46 | 15 |
| 6 | 4,860 | HUB INTL LTD TL B | 0.20% | 100.25 | 100.05 | 15 |
| 7 | 4,750 | ZAYO TL | -0.83% | 86.83 | 87.56 | 16 |
| 8 | 4,741 | INTERNET BRANDS TL B | 0.13% | 99.45 | 99.32 | 13 |
| 9 | 4,525 | TRANSDIGM INC. TL I | 0.07% | 100.38 | 100.31 | 15 |
| 10 | 4,260 | NUMERICABLE TL B | 0.09% | 80.30 | 80.23 | 12 |
| 11 | 4,237 | INSPIRE BRANDS TL | 0.04% | 100.03 | 99.99 | 11 |
| 12 | 4,050 | CITRIX TL B | 0.21% | 99.67 | 99.46 | 12 |
| 13 | 3,900 | DIRECTV TL | -0.16% | 100.17 | 100.33 | 16 |
| 14 | 3,580 | CDK GLOBAL TL B | 0.05% | 100.37 | 100.32 | 15 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.01% | 103.80 | 103.82 | 12 |
| 16 | 3,500 | WESTINGHOUSE TL B | 0.16% | 100.01 | 99.85 | 15 |
| 17 | 3,500 | PILOT TRAVEL TL B | -0.04% | 100.00 | 100.04 | 11 |
| 18 | 3,420 | RCN GRANDE TL | -1.31% | 82.07 | 83.16 | 15 |
| 19 | 3,380 | SOLERA TL B | 0.32% | 99.34 | 99.02 | 15 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.05% | 98.47 | 98.43 | 12 |
| AVERAGE | 4,639 | -0.07% | 97.64 | 97.70 | 13.4 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 3/28/24-4/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ASURION 2ND LIEN TL B4 | 2.92% | 91.78 | 89.18 | 11 |
| 2 | MOLD-RITE TL | 2.28% | 77.11 | 75.39 | 8 |
| 3 | RESEARCH NOW TL | 1.95% | 60.17 | 59.02 | 10 |
| 4 | PIXELLE SPECIALTY SOLUTIONS TL B | 1.91% | 83.24 | 81.68 | 13 |
| 5 | TORRID TL B | 1.02% | 85.27 | 84.41 | 10 |
| 6 | WIPRO DATA CENTRE & CLOUD SERVICES INC TL B | 0.96% | 97.52 | 96.59 | 9 |
| 7 | THE NIELSEN COMPANY B.V. TL B | 0.79% | 92.96 | 92.23 | 5 |
| 8 | VERIFONE TL B | 0.72% | 88.93 | 88.29 | 12 |
| 9 | TRITON WATER TL B | 0.68% | 99.60 | 98.93 | 10 |
| 10 | LANDESK TL B | 0.67% | 93.81 | 93.18 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 3/28/24-4/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LIFESCAN TL B | -53.79% | 27.78 | 60.12 | 8 |
| 2 | PHYSICIAN PARTNERS TL | -8.29% | 68.01 | 74.16 | 8 |
| 3 | BLOUNT TL B | -6.89% | 84.14 | 90.37 | 16 |
| 4 | TRINSEO TL B | -5.74% | 69.61 | 73.86 | 12 |
| 5 | COX ENTERPRISES, INC. TL B | -5.47% | 82.14 | 86.90 | 10 |
| 6 | EMPIRE TODAY TL | -5.46% | 76.77 | 81.21 | 10 |
| 7 | CARESTREAM DENTAL EXT TL | -4.36% | 82.78 | 86.55 | 7 |
| 8 | USS PARENT TL B | -3.37% | 73.44 | 76.01 | 13 |
| 9 | COMMSCOPE TL B2 | -3.06% | 87.17 | 89.92 | 10 |
| 10 | SPRINGS WINDOW TL B | -2.57% | 89.37 | 91.73 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 3/28/24-4/5/24 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 3/28/24-4/5/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 3/28/24 vs. the week ending 4/5/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CENGAGE TL B | 58 | 98 | 40 | 69% |
| 2 | QUIKRETE TL B | 12 | 48 | 36 | 300% |
| 3 | GOLDEN NUGGET INC TL B | 53 | 87 | 34 | 64% |
| 4 | BMC SOFTWARE TL B | 69 | 102 | 33 | 48% |
| 5 | STATION CASINO TL B | 56 | 88 | 32 | 57% |
| 6 | BERRY PLASTICS TL | 98 | 129 | 31 | 32% |
| 7 | APPLIED SYSTEMS TL B | 68 | 98 | 30 | 44% |
| 8 | DAE AVIATION TL B | 12 | 42 | 30 | 250% |
| 9 | QUIKRETE TL B | 6 | 36 | 30 | 500% |
| 10 | ANCESTRY.COM TL B | 76 | 106 | 30 | 39% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 3/28/24-4/5/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 19 |
| 2 | TRANSDIGM INC. TL J | 17 |
| 3 | TELENET EUR TL | 17 |
| 4 | FRONERI TL B | 17 |
| 5 | GATES GLOBAL TL B3 | 17 |
| 6 | ALKEGEN TL B | 17 |
| 7 | VERISURE EUR TL B | 17 |
| 8 | SS&C TECH TL B | 16 |
| 9 | ZIGGO EUR TL H | 16 |
| 10 | STADA ARZNEIMITTEL EUR TL F | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 3/28/24-4/5/24
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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