Syndicated Bank Loan Market Summary – Week Ending 7/26/24
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Syndicated Bank Loan Market Summary: Week Ending 7/26/24
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 7/26/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Garda World Security Corp. | Term Loan | 2322 | 6/29/2029 | S+350 |
| Arsenal AIC Parent LLC | Term Loan | 1414 | 8/18/2030 | S+350 |
| CHG Healthcare Services Inc. | Term Loan | 370 | 9/2/2028 | S+350 |
| CHG Healthcare Services Inc. | Term Loan | 577 | 9/1/2028 | S+350 |
| AAL Delaware Holdco Inc | Term Loan | 775 | 7/10/2031 | S+350 |
forward calendar
Forward calendar during the week ending 7/26/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Allegro Microsystems Inc | 300MM TLB | MS,BCS | Q3 2024 |
| Amentum | $3.5B TLB | JPM, MS,RBC | Q3 2024 |
| Apex Group Ltd. | $1.106B | BMO,MS,NMR,ISP | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/19/24 – 7/26/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.04% | 100.15 | 100.19 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.11% | 100.35 | 100.47 | 16 |
| 3 | 4,860 | HUB INTL LTD TL B | -0.24% | 100.03 | 100.28 | 16 |
| 4 | 4,750 | ZAYO TL | 1.47% | 87.54 | 86.27 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | -0.09% | 99.74 | 99.83 | 15 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.05% | 100.24 | 100.29 | 16 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.03% | 100.14 | 100.11 | 13 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.03% | 100.28 | 100.25 | 16 |
| 9 | 3,900 | DIRECTV TL | -0.10% | 99.95 | 100.05 | 15 |
| 10 | 3,640 | TRANSDIGM INC. TL J | -0.02% | 100.24 | 100.26 | 13 |
| 11 | 3,573 | CDK GLOBAL TL B | -0.03% | 98.86 | 98.89 | 11 |
| 12 | 3,566 | AIR MEDICAL PIK TL B | -0.68% | 96.74 | 97.40 | 10 |
| 13 | 3,500 | WESTINGHOUSE TL B | 0.00% | 100.19 | 100.19 | 14 |
| 14 | 3,500 | SEDGWICK TL B | -0.04% | 100.09 | 100.13 | 11 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.07% | 103.23 | 103.31 | 14 |
| 16 | 3,420 | RCN GRANDE TL | 0.17% | 82.42 | 82.28 | 14 |
| 17 | 3,380 | SOLERA TL B | -0.09% | 100.05 | 100.14 | 16 |
| 18 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -0.03% | 94.08 | 94.10 | 10 |
| 19 | 3,340 | PROOFPOINT TL B | -0.05% | 100.34 | 100.39 | 12 |
| 20 | 3,300 | NTL CABLE PLC TL N | -0.61% | 96.58 | 97.18 | 12 |
| AVERAGE | 4,027 | -0.03% | 98.06 | 98.10 | 13.8 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/19/24-7/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | AMC ENTERTAINMENT TL B1 | 3.16% | 98.43 | 95.42 | 16 |
| 2 | NUMERICABLE TL B14 | 2.85% | 74.65 | 72.58 | 7 |
| 3 | LANDESK TL B | 2.55% | 83.20 | 81.13 | 14 |
| 4 | SINCLAIR BROADCAST GROUP INC. TL B4 | 2.31% | 69.99 | 68.41 | 8 |
| 5 | ARTERRA WINES CANANDA TL B1 | 2.12% | 95.21 | 93.23 | 13 |
| 6 | COX ENTERPRISES, INC. TL B | 2.06% | 83.17 | 81.49 | 13 |
| 7 | ZAYO TL | 1.47% | 87.54 | 86.27 | 16 |
| 8 | GRAY TELEVISION TL D | 1.42% | 92.12 | 90.83 | 13 |
| 9 | ALTICE FINANCING TL B | 0.84% | 85.90 | 85.18 | 7 |
| 10 | EMBECTA TL B | 0.81% | 95.16 | 94.40 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/19/24-7/26/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TROPICANA 2ND LIEN TL | -5.56% | 75.25 | 79.68 | 10 |
| 2 | CSC SERVICEWORKS INC TL | -3.56% | 81.73 | 84.74 | 13 |
| 3 | LASERSHIP TL | -3.53% | 79.09 | 81.98 | 8 |
| 4 | VERIZON TL B2 | -2.68% | 83.02 | 85.30 | 8 |
| 5 | DIGICERT TL | -2.67% | 92.46 | 95.00 | 15 |
| 6 | INTERTAPE POLYMER US INC TL | -1.91% | 90.47 | 92.23 | 14 |
| 7 | ACPRODUCTS TL B | -1.67% | 79.00 | 80.34 | 12 |
| 8 | VERACODE TL B | -1.66% | 87.44 | 88.92 | 9 |
| 9 | CUBIC CORP TL B | -1.60% | 73.44 | 74.63 | 13 |
| 10 | SELECT STAFFING TL B | -1.49% | 63.33 | 64.29 | 15 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/19/24-7/26/24 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 7/19/24-7/26/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/19/24 vs. the week ending 7/26/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | AMERICAN AIRLINES TL B | 40 | 89 | 49 | 123% |
| 2 | CLOUD SOFTWARE GROUP INC TL B | 60 | 108 | 48 | 80% |
| 3 | DIGICERT TL | 54 | 98 | 44 | 81% |
| 4 | MKS INSTRUMENTS TL B | 12 | 50 | 38 | 317% |
| 5 | COHERENT INC TL B | 4 | 36 | 32 | 800% |
| 6 | CALIBER COLLISION TL B | 36 | 68 | 32 | 89% |
| 7 | US RADIOLOGY SPECIALISTS TL B | 4 | 34 | 30 | 750% |
| 8 | DIGICERT 2ND LIEN TL | 46 | 72 | 26 | 57% |
| 9 | OMNI LOGISTICS TL B | 48 | 72 | 24 | 50% |
| 10 | NTHRIVE TL B | 21 | 44 | 23 | 110% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/19/24-7/26/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HILEX POLY TL B | 18 |
| 2 | AMWINS TL B | 18 |
| 3 | TENNECO TL B | 18 |
| 4 | BMC SOFTWARE TL B | 17 |
| 5 | TRANSDIGM INC. TL K | 17 |
| 6 | DAVITA TL B | 17 |
| 7 | BERRY PLASTICS TL Z | 17 |
| 8 | LESLIE’S POOLMART TL B | 17 |
| 9 | BLOUNT TL B | 17 |
| 10 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/19/24-7/26/24
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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