Syndicated Bank Loan Market Summary – Week Ending 6/14/24
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Syndicated Bank Loan Market Summary: Week Ending 6/14/24
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 6/14/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| EAB Global Inc. | Term Loan | 877 | 5/1/2028 | S+325 |
| Authentic Brands Group LLC | Term Loan | 3333 | 12/21/2028 | S+275 |
| TransUnion LLC | Term Loan | 1500 | 5/30/2031 | S+175 |
forward calendar
Forward calendar during the week ending 6/14/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ankura Consulting Group | $175M TL | DB | Q2 2024 |
| Charter Next Generation Inc. | $2.311B TLB | KKR | Q2 2024 |
| Oregon Clean Energy | $410M TL (B1) | BMO | Q2 2024 |
| Spencer Spirit | $350MM TLB | RBC | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/7/24 – 6/14/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.25% | 100.18 | 100.43 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.29% | 100.41 | 100.70 | 15 |
| 3 | 5,160 | MCAFEE CORP TL | -0.06% | 99.85 | 99.91 | 11 |
| 4 | 4,860 | HUB INTL LTD TL B | -0.35% | 100.24 | 100.59 | 17 |
| 5 | 4,750 | ZAYO TL | -0.82% | 86.73 | 87.45 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.18% | 100.03 | 100.22 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | -0.29% | 100.09 | 100.39 | 20 |
| 8 | 4,237 | INSPIRE BRANDS TL | -0.28% | 99.99 | 100.27 | 13 |
| 9 | 4,050 | CITRIX TL B | -0.32% | 100.21 | 100.53 | 11 |
| 10 | 3,935 | SS&C TECH TL B8 | -0.22% | 100.15 | 100.38 | 16 |
| 11 | 3,900 | DIRECTV TL | -0.26% | 99.84 | 100.11 | 17 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.28% | 100.09 | 100.37 | 13 |
| 13 | 3,573 | CDK GLOBAL TL B | -0.33% | 100.45 | 100.78 | 13 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | -0.24% | 103.39 | 103.64 | 13 |
| 15 | 3,500 | SEDGWICK TL B | -0.19% | 100.30 | 100.49 | 11 |
| 16 | 3,500 | WESTINGHOUSE TL B | -0.30% | 100.12 | 100.42 | 15 |
| 17 | 3,420 | RCN GRANDE TL | 0.86% | 80.57 | 79.88 | 12 |
| 18 | 3,380 | SOLERA TL B | -0.22% | 99.84 | 100.07 | 15 |
| 19 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -0.54% | 95.92 | 96.44 | 10 |
| 20 | 3,340 | PROOFPOINT TL B | -0.12% | 100.26 | 100.38 | 11 |
| AVERAGE | 4,144 | -0.23% | 98.43 | 98.67 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/7/24-6/14/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RSA SECURITY LLC 2ND LIEN TL | 6.39% | 70.73 | 66.48 | 8 |
| 2 | BLOUNT TL B | 3.66% | 76.51 | 73.81 | 13 |
| 3 | EMPIRE TODAY TL | 3.38% | 75.38 | 72.91 | 11 |
| 4 | INTERIOR LOGIC TL B | 1.67% | 91.47 | 89.97 | 9 |
| 5 | PLANET FITNESS TL | 1.57% | 89.26 | 87.88 | 6 |
| 6 | NUMERICABLE TL B14 | 1.51% | 76.43 | 75.29 | 7 |
| 7 | CORELOGIC 2ND LIEN TL | 1.46% | 97.63 | 96.22 | 7 |
| 8 | AIR NEWCO LLC TL B | 1.35% | 90.22 | 89.02 | 6 |
| 9 | SPRINGS WINDOW TL B | 0.99% | 85.63 | 84.79 | 13 |
| 10 | KLOECKNER EUR TL B | 0.97% | 88.67 | 87.82 | 16 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/7/24-6/14/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | VERITAS US INC TL B | -5.78% | 85.15 | 90.37 | 15 |
| 2 | SITEL LLC / SITEL FIN CORP EUR TL B | -5.61% | 78.11 | 82.75 | 13 |
| 3 | LANDESK TL B | -4.20% | 82.84 | 86.47 | 12 |
| 4 | HERTZ EXIT TL C | -3.98% | 87.32 | 90.94 | 4 |
| 5 | HERTZ TL B | -3.88% | 87.14 | 90.66 | 7 |
| 6 | VET INTERMEDIATE TL B | -2.97% | 96.90 | 99.86 | 8 |
| 7 | LASERSHIP TL | -2.90% | 84.61 | 87.14 | 8 |
| 8 | MULTIPLAN TL B | -2.71% | 79.32 | 81.53 | 12 |
| 9 | USIC TL | -2.21% | 97.60 | 99.80 | 9 |
| 10 | RESTORATION HARDWARE TL B | -2.10% | 95.65 | 97.70 | 7 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/7/24-6/14/24 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 6/7/24-6/14/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/7/24 vs. the week ending 6/14/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | ENTEGRIS TL B | 12 | 58 | 46 | 383% |
| 2 | SITEL LLC / SITEL FIN CORP EUR TL B | 0 | 38 | 38 | NA |
| 3 | VERACODE TL B | 14 | 52 | 38 | 271% |
| 4 | ARMACELL EUR TL B | 1 | 34 | 33 | 3300% |
| 5 | VERIFONE DD TL | 8 | 40 | 32 | 400% |
| 6 | SURGEY CENTER TL | 26 | 58 | 32 | 123% |
| 7 | NEXSTAR BROADCASTING TL B | 8 | 38 | 30 | 375% |
| 8 | DUFF & PHELPS TL B | 6 | 36 | 30 | 500% |
| 9 | RV RETAILER TL B | 32 | 62 | 30 | 94% |
| 10 | FIRST EAGLE TL B | 8 | 36 | 28 | 350% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/7/24-6/14/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 20 |
| 2 | TENNECO TL B | 18 |
| 3 | TRANSDIGM INC. TL K | 18 |
| 4 | TRANSDIGM INC. TL J | 18 |
| 5 | BERRY PLASTICS TL | 17 |
| 6 | HUB INTL LTD TL B | 17 |
| 7 | HILEX POLY TL B | 17 |
| 8 | BMC SOFTWARE TL B | 17 |
| 9 | HYPERION TL B | 17 |
| 10 | FRONERI TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/7/24-6/14/24
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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