Syndicated Bank Loan Market Summary – Week Ending 4/26/24
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Syndicated Bank Loan Market Summary: Week Ending 4/26/24
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 4/26/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Pointclickcare Technologies Inc. | Term Loan | 437 | 12/1/2027 | S+300 |
| Kindercare Learning Ctrs Inc. | Term Loan | 792 | 6/12/2030 | S+450 |
| Carnival Corp. | Term Loan | 1748 | 4/16/2028 | S+275 |
forward calendar
Forward calendar during the week ending 4/26/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Anchor Packaging LLC | $725MM credit facility | UBS | Q2 2024 |
| Ahead DB Holdings LLC | $613MM TL | RBC | Q2 2024 |
| Nomad Foods LLC | $693MM TL (B1/BB-/BB+) | JEFF,CAC,RB | Q2 2024 |
| Ribbon Communications Inc. | $350MM TLB (B-) | CTZ | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/19/24 – 4/26/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 8,572 | GEO GROUP TL1 | 0.26% | 101.46 | 101.19 | 11 |
| 2 | 6,143 | MEDLINE TL B | 0.12% | 100.25 | 100.13 | 13 |
| 3 | 5,385 | ULTIMATE SOFTWARE TL B | 0.17% | 100.43 | 100.26 | 15 |
| 4 | 4,860 | HUB INTL LTD TL B | 0.15% | 100.38 | 100.22 | 16 |
| 5 | 4,750 | ZAYO TL | -0.02% | 86.13 | 86.15 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | 0.13% | 99.56 | 99.43 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | 0.13% | 100.37 | 100.24 | 16 |
| 8 | 4,260 | NUMERICABLE TL B14 | 0.05% | 74.98 | 74.95 | 13 |
| 9 | 4,050 | CITRIX TL B | 0.28% | 99.79 | 99.51 | 13 |
| 10 | 3,900 | DIRECTV TL | 0.03% | 100.32 | 100.30 | 17 |
| 11 | 3,580 | CDK GLOBAL TL B | 0.15% | 100.36 | 100.21 | 16 |
| 12 | 3,564 | MKS INSTRUMENTS TL B | 0.14% | 99.99 | 99.85 | 10 |
| 13 | 3,500 | SEDGWICK TL B | 0.09% | 100.34 | 100.25 | 10 |
| 14 | 3,500 | WESTINGHOUSE TL B | 0.08% | 100.06 | 99.99 | 16 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.17% | 103.84 | 103.66 | 12 |
| 16 | 3,420 | RCN GRANDE TL | -0.81% | 80.16 | 80.81 | 13 |
| 17 | 3,380 | SOLERA TL B | 0.49% | 98.80 | 98.32 | 16 |
| 18 | 3,300 | NTL CABLE PLC TL N | 0.22% | 98.04 | 97.83 | 13 |
| 19 | 3,242 | GOLDEN NUGGET INC TL B | 0.17% | 100.21 | 100.04 | 12 |
| 20 | 3,175 | MAGENTA BUYER LLC TL | 0.02% | 50.25 | 50.24 | 10 |
| AVERAGE | 4,267 | 0.10% | 94.79 | 94.68 | 13.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/19/24-4/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ASTRA ACQUISITION CORP 2ND LIEN TL | 23.11% | 26.17 | 21.26 | 6 |
| 2 | HUBBARD RADIO TL B | 13.22% | 80.12 | 70.76 | 8 |
| 3 | CARESTREAM HEALTH TL B | 5.38% | 89.40 | 84.83 | 7 |
| 4 | CBS RADIO INC TL B | 3.78% | 54.09 | 52.11 | 9 |
| 5 | WEIGHT WATCHERS TL B | 3.57% | 42.08 | 40.63 | 12 |
| 6 | CPV SHORE TL B | 3.43% | 90.39 | 87.40 | 7 |
| 7 | HALO BUYER TL | 2.96% | 74.95 | 72.80 | 6 |
| 8 | PHYSICIAN PARTNERS TL | 2.72% | 68.83 | 67.01 | 9 |
| 9 | NATIONAL MENTOR TL | 2.41% | 85.44 | 83.43 | 5 |
| 10 | TENNECO TL B | 2.09% | 97.03 | 95.04 | 17 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/19/24-4/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | MOLD-RITE TL | -21.95% | 60.42 | 77.41 | 9 |
| 2 | LIFESCAN TL B | -6.88% | 36.76 | 39.47 | 9 |
| 3 | KLOECKNER TL B | -6.01% | 86.55 | 92.08 | 11 |
| 4 | BINGO INDUSTRIES TL | -5.55% | 86.05 | 91.11 | 7 |
| 5 | CERBA HEALTHCARE EUR TL B | -3.96% | 84.68 | 88.17 | 16 |
| 6 | CORRECT CARE 2ND LIEN TL | -3.56% | 56.28 | 58.36 | 6 |
| 7 | HERTZ TL B | -3.51% | 92.55 | 95.92 | 9 |
| 8 | DUPAGE MEDICAL GROUP TL B | -2.90% | 72.15 | 74.30 | 10 |
| 9 | CABLEVISION TL B5 | -2.26% | 87.59 | 89.61 | 9 |
| 10 | HOMEVI EUR TL B | -2.18% | 85.70 | 87.61 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/19/24-4/26/24 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 4/19/24-4/26/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/19/24 vs. the week ending 4/26/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TOPGOLF INTERNATIONAL TL | 0 | 38 | 38 | NA |
| 2 | CONSUMER CELLULAR TL B | 8 | 31 | 23 | 288% |
| 3 | HERBALIFE TL B | 28 | 50 | 22 | 79% |
| 4 | MAUSER TL B | 16 | 36 | 20 | 125% |
| 5 | KOHLER ENERGY TL | 6 | 26 | 20 | 333% |
| 6 | BLOUNT TL B | 82 | 102 | 20 | 24% |
| 7 | BRAND ENERGY TL B | 42 | 61 | 19 | 45% |
| 8 | QUIKRETE TL B | 54 | 72 | 18 | 33% |
| 9 | STATION CASINO TL B | 78 | 96 | 18 | 23% |
| 10 | DEALOGIC TL B | 50 | 68 | 18 | 36% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/19/24-4/26/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL J | 18 |
| 2 | FRONERI TL B | 18 |
| 3 | ALKEGEN TL B | 18 |
| 4 | TENNECO TL B | 17 |
| 5 | BERRY PLASTICS TL | 17 |
| 6 | ZIGGO EUR TL H | 17 |
| 7 | GATES GLOBAL TL B3 | 17 |
| 8 | GRAHAM PACKAGING TL B | 17 |
| 9 | DIRECTV TL | 17 |
| 10 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/19/24-4/26/24
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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