Syndicated Bank Loan Market Summary – Week Ending 5/17/24
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Syndicated Bank Loan Market Summary: Week Ending 5/17/24
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 5/17/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| American Airlines Inc. | Term Loan | 1100 | 6/4/2029 | S+250 |
| Proofpoint Inc. | Term Loan | 3340 | 8/1/2028 | S+300 |
| Organon & Co. | Term Loan | 1550 | 5/7/2031 | S+250 |
forward calendar
Forward calendar during the week ending 5/17/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Learning Care Group | $896M TLB | JPM | Q2 2024 |
| Moneygram International Inc. | $398M TLB | GS | Q2 2024 |
| Sotera Health Co. | $1.509B TLB (BB-) | JPM | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/10/24 – 5/17/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.09% | 100.67 | 100.58 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.01% | 100.77 | 100.77 | 14 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.03% | 100.76 | 100.79 | 17 |
| 4 | 4,750 | ZAYO TL | -0.88% | 83.68 | 84.43 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.05% | 100.09 | 100.04 | 13 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.13% | 100.58 | 100.71 | 18 |
| 7 | 4,050 | CITRIX TL B | 0.16% | 100.34 | 100.18 | 14 |
| 8 | 3,935 | SS&C TECH TL B8 | -0.04% | 100.39 | 100.43 | 13 |
| 9 | 3,900 | DIRECTV TL | -0.17% | 100.51 | 100.68 | 18 |
| 10 | 3,580 | CDK GLOBAL TL B | 0.27% | 100.70 | 100.43 | 17 |
| 11 | 3,564 | MKS INSTRUMENTS TL B | -0.32% | 100.24 | 100.55 | 13 |
| 12 | 3,500 | WESTINGHOUSE TL B | 0.05% | 100.52 | 100.46 | 15 |
| 13 | 3,500 | SEDGWICK TL B | -0.05% | 100.49 | 100.54 | 11 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.03% | 104.23 | 104.26 | 14 |
| 15 | 3,420 | RCN GRANDE TL | 1.09% | 78.50 | 77.65 | 13 |
| 16 | 3,380 | SOLERA TL B | 0.11% | 100.05 | 99.94 | 16 |
| 17 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 0.47% | 95.63 | 95.19 | 11 |
| 18 | 3,300 | NTL CABLE PLC TL N | -0.23% | 98.22 | 98.45 | 13 |
| 19 | 3,250 | CORELOGIC TL B | -0.24% | 98.51 | 98.75 | 10 |
| 20 | 3,242 | GOLDEN NUGGET INC TL B | -0.15% | 100.28 | 100.43 | 11 |
| AVERAGE | 3,994 | 0.00% | 98.26 | 98.26 | 14.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/10/24-5/17/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LIFESCAN TL B | 13.30% | 43.38 | 38.29 | 8 |
| 2 | MAGENTA BUYER LLC TL | 7.22% | 57.42 | 53.55 | 10 |
| 3 | SITEL LLC / SITEL FIN CORP TL B | 6.08% | 74.88 | 70.59 | 12 |
| 4 | IQOR PIK SO TL | 5.86% | 90.00 | 85.02 | 5 |
| 5 | CERBA HEALTHCARE EUR TL B | 5.40% | 91.36 | 86.69 | 16 |
| 6 | TRINSEO TL B | 5.38% | 79.55 | 75.48 | 11 |
| 7 | PHYSICIAN PARTNERS TL | 5.20% | 75.18 | 71.46 | 9 |
| 8 | ANVIL INTERNATIONAL 2ND LIEN TL | 4.75% | 95.58 | 91.25 | 5 |
| 9 | RSA SECURITY LLC TL B | 4.08% | 85.26 | 81.92 | 9 |
| 10 | AMC ENTERTAINMENT TL B1 | 2.97% | 89.70 | 87.12 | 15 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/10/24-5/17/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | WHEEL PROS TL | -21.51% | 60.15 | 76.63 | 11 |
| 2 | RUNNER BUYER TL B | -8.07% | 56.97 | 61.97 | 10 |
| 3 | BLOUNT TL B | -7.18% | 80.39 | 86.61 | 15 |
| 4 | ACPRODUCTS TL B | -3.94% | 83.54 | 86.97 | 10 |
| 5 | FOREST CITY ENTERPRISES TL B | -3.76% | 92.44 | 96.06 | 10 |
| 6 | INTERIOR LOGIC TL B | -3.62% | 88.80 | 92.13 | 9 |
| 7 | LANDESK 2ND LIEN TL | -3.39% | 81.12 | 83.96 | 9 |
| 8 | ALTICE FINANCING TL B | -3.32% | 84.86 | 87.77 | 9 |
| 9 | NUMERICABLE TL B11 | -3.17% | 86.08 | 88.89 | 8 |
| 10 | MULTIPLAN TL B | -3.16% | 84.15 | 86.90 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/10/24-5/17/24 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 5/10/24-5/17/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/10/24 vs. the week ending 5/17/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TRANSUNION TL B5 | 64 | 88 | 24 | 38% |
| 2 | API GROUP TL B | 6 | 28 | 22 | 367% |
| 3 | LS GROUP OPCO ACQUISITION LLC TL B | 8 | 30 | 22 | 275% |
| 4 | MASMOVIL IBERCOM SA EUR TL B | 32 | 52 | 20 | 63% |
| 5 | AREAS EUR TL | 14 | 34 | 20 | 143% |
| 6 | ZEPHYR BIDCO EUR TL B | 38 | 58 | 20 | 53% |
| 7 | PAYSAFE EUR TL B | 50 | 70 | 20 | 40% |
| 8 | LANDESK TL B | 55 | 75 | 20 | 36% |
| 9 | GFI INFORMATIQUE SA EUR TL B | 6 | 26 | 20 | 333% |
| 10 | VALEO FOODS EUR TL B | 26 | 45 | 19 | 73% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/10/24-5/17/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TENNECO TL B | 20 |
| 2 | TRANSDIGM INC. TL J | 18 |
| 3 | TRANSDIGM INC. TL I | 18 |
| 4 | ALKEGEN TL B | 18 |
| 5 | DIRECTV TL | 18 |
| 6 | FRONERI TL B | 18 |
| 7 | CDK GLOBAL TL B | 17 |
| 8 | HUB INTL LTD TL B | 17 |
| 9 | BERRY PLASTICS TL | 17 |
| 10 | HILEX POLY TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/10/24-5/17/24
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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