Syndicated Bank Loan Market Summary – Week Ending 7/5/24
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Syndicated Bank Loan Market Summary: Week Ending 7/5/24
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 7/5/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Darktrace PLC | Term Loan | 1735 | 6/13/2031 | S+325 |
| AutoData | Term Loan | 350 | 6/24/2032 | S+525 |
| Waterbridge Operating LLC | Term Loan | 1150 | 6/30/2029 | S+500 |
forward calendar
Forward calendar during the week ending 7/5/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| BMC Software | $6.65B TLs | GS,KKR | Q3 2024 |
| Matador Bidco | $710M TLB (/B+/BB) | HSBC | Q3 2024 |
| Upfield | $1.308B TLB7 | KKR,BNP,CITI,GS,HSBC | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/28/24 – 7/5/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.01% | 100.17 | 100.16 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.04% | 100.30 | 100.35 | 16 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.03% | 100.20 | 100.23 | 17 |
| 4 | 4,750 | ZAYO TL | 0.24% | 87.03 | 86.82 | 15 |
| 5 | 4,741 | INTERNET BRANDS TL B | -0.06% | 99.82 | 99.88 | 15 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.18% | 100.34 | 100.16 | 17 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.15% | 100.04 | 99.89 | 12 |
| 8 | 4,050 | CITRIX TL B | -0.16% | 99.95 | 100.11 | 10 |
| 9 | 3,935 | SS&C TECH TL B8 | -0.03% | 100.08 | 100.11 | 17 |
| 10 | 3,900 | DIRECTV TL | 0.09% | 100.04 | 99.95 | 16 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.09% | 100.31 | 100.22 | 13 |
| 12 | 3,573 | CDK GLOBAL TL B | 0.33% | 98.79 | 98.47 | 16 |
| 13 | 3,566 | AIR MEDICAL PIK TL B | -0.04% | 96.65 | 96.69 | 10 |
| 14 | 3,564 | MKS INSTRUMENTS TL B | 0.02% | 100.00 | 99.97 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.03% | 103.20 | 103.17 | 13 |
| 16 | 3,500 | WESTINGHOUSE TL B | 0.06% | 100.08 | 100.03 | 15 |
| 17 | 3,500 | SEDGWICK TL B | 0.00% | 99.94 | 99.95 | 11 |
| 18 | 3,420 | RCN GRANDE TL | -0.30% | 80.37 | 80.61 | 12 |
| 19 | 3,380 | SOLERA TL B | 0.06% | 100.00 | 99.93 | 16 |
| 20 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -0.41% | 94.05 | 94.44 | 10 |
| AVERAGE | 4,076 | 0.01% | 98.07 | 98.06 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/28/24-7/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | WORLDWIDE EXPRESS 2ND LIEN TL | 2.78% | 97.35 | 94.71 | 3 |
| 2 | KLOECKNER EUR TL B | 2.64% | 91.64 | 89.28 | 15 |
| 3 | IHEART TL B | 2.27% | 78.91 | 77.16 | 12 |
| 4 | BEAVST EUR TL B | 1.39% | 92.42 | 91.15 | 10 |
| 5 | BOYD CORP TL B | 1.23% | 99.64 | 98.43 | 9 |
| 6 | SOLERA EUR TL B | 1.18% | 98.45 | 97.30 | 11 |
| 7 | US ANESTHESIA TL B | 0.68% | 96.44 | 95.79 | 13 |
| 8 | SINCLAIR BROADCAST GROUP INC. TL B3 | 0.62% | 70.02 | 69.59 | 12 |
| 9 | GRIFOLS WORLDWIDE TL B | 0.52% | 98.88 | 98.36 | 13 |
| 10 | ATLANTIC BROADBAND TL B | 0.51% | 96.75 | 96.26 | 6 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/28/24-7/5/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | GLOBAL TELESYSTEMS TL | -5.62% | 92.42 | 97.92 | 10 |
| 2 | NTHRIVE TL B | -3.52% | 78.21 | 81.06 | 7 |
| 3 | EAGLEVIEW TL B | -2.40% | 94.22 | 96.53 | 10 |
| 4 | SITEL LLC / SITEL FIN CORP TL B | -2.20% | 75.36 | 77.05 | 12 |
| 5 | CORRECT CARE TL B | -2.08% | 61.51 | 62.82 | 9 |
| 6 | TRINSEO TL B | -1.47% | 79.05 | 80.23 | 11 |
| 7 | WIDEOPENWEST TL B | -1.29% | 88.26 | 89.41 | 13 |
| 8 | ACPRODUCTS TL B | -1.28% | 83.27 | 84.35 | 11 |
| 9 | EIG INVESTORS TL B | -1.02% | 91.76 | 92.70 | 9 |
| 10 | COLISEE PATRIMOINE EUR TL B | -0.88% | 95.01 | 95.86 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/28/24-7/5/24 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 6/28/24-7/5/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/28/24 vs. the week ending 7/5/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PAYSAFE EUR TL B | 38 | 62 | 24 | 63% |
| 2 | UTZ QUALITY FOODS TL | 34 | 57 | 23 | 68% |
| 3 | URBASER EUR TL B | 33 | 55 | 22 | 67% |
| 4 | CORIALIS GBP TL B | 26 | 46 | 20 | 77% |
| 5 | VIVALTO SANTE SAS EUR TL B | 24 | 44 | 20 | 83% |
| 6 | BROOM HOLDINGS EUR TL B | 34 | 54 | 20 | 59% |
| 7 | VEONET EUR TL B | 34 | 54 | 20 | 59% |
| 8 | BUSY BEES EUR TL B | 34 | 54 | 20 | 59% |
| 9 | BUSY BEES GBP TL B | 18 | 38 | 20 | 111% |
| 10 | ORGANON EUR TL B | 32 | 52 | 20 | 63% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/28/24-7/5/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | VERIFONE TL B | 19 |
| 2 | TENNECO TL B | 18 |
| 3 | TRANSDIGM INC. TL K | 18 |
| 4 | AMWINS TL B | 18 |
| 5 | BERRY PLASTICS TL Z | 18 |
| 6 | BMC SOFTWARE TL B | 18 |
| 7 | GO DADDY TL B7 | 17 |
| 8 | TRANSDIGM INC. TL I | 17 |
| 9 | SS&C TECH TL B8 | 17 |
| 10 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/28/24-7/5/24
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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