Syndicated Bank Loan Market Summary – Week Ending 8/23/24
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Syndicated Bank Loan Market Summary: Week Ending 8/23/24
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 8/23/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Mehilainen | 615 | Term Loan | 7/23/2031 | E+400 |
| Berry Global Group Inc | 1550 | Term Loan | 7/1/2029 | S+175 |
forward calendar
Forward calendar during the week ending 8/23/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Bally’s Corp. | $500MM TLB | Q3 2024 | |
| Frontdoor Inc. | $575MM TL | JPM | Q3 2024 |
| Owens & Minor | $775MM TLB | CITI | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/16/24 – 8/23/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.07% | 100.14 | 100.21 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.20% | 100.18 | 99.98 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.11% | 99.99 | 99.88 | 15 |
| 4 | 4,860 | HUB INTL LTD TL B | 0.10% | 99.98 | 99.88 | 13 |
| 5 | 4,860 | HUB INTL LTD TL B | 0.10% | 99.98 | 99.88 | 13 |
| 6 | 4,750 | ZAYO TL | 0.44% | 91.89 | 91.48 | 16 |
| 7 | 4,741 | INTERNET BRANDS TL B | 0.19% | 99.63 | 99.44 | 13 |
| 8 | 4,741 | INTERNET BRANDS TL B | 0.19% | 99.63 | 99.44 | 13 |
| 9 | 4,525 | TRANSDIGM INC. TL I | 0.07% | 100.38 | 100.31 | 16 |
| 10 | 4,237 | INSPIRE BRANDS TL | 0.11% | 100.08 | 99.97 | 14 |
| 11 | 3,935 | SS&C TECH TL B8 | 0.09% | 100.25 | 100.16 | 15 |
| 12 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.03% | 100.53 | 100.50 | 16 |
| 13 | 3,640 | TRANSDIGM INC. TL J | 0.07% | 100.03 | 99.96 | 15 |
| 14 | 3,573 | CDK GLOBAL TL B | 0.22% | 99.12 | 98.91 | 13 |
| 15 | 3,566 | AIR MEDICAL PIK TL B | 0.42% | 99.29 | 98.87 | 10 |
| 16 | 3,500 | WESTINGHOUSE TL B | 0.05% | 100.01 | 99.96 | 14 |
| 17 | 3,500 | AMERICAN AIRLINES TL B | -0.21% | 103.44 | 103.65 | 14 |
| 18 | 3,420 | RCN GRANDE TL | 1.44% | 82.74 | 81.56 | 15 |
| 19 | 3,380 | SOLERA TL B | -0.26% | 99.15 | 99.40 | 16 |
| 20 | 3,380 | SOLERA TL B | -0.26% | 99.15 | 99.40 | 16 |
| AVERAGE | 4,257 | 0.15% | 98.78 | 98.64 | 14.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/16/24-8/23/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | FRANCHISE GROUP TL B | 14.28% | 56.07 | 49.06 | 10 |
| 2 | INTERTAPE POLYMER US INC TL | 3.95% | 94.28 | 90.70 | 15 |
| 3 | DIGICERT TL | 3.79% | 97.04 | 93.49 | 14 |
| 4 | GRIFOLS WORLDWIDE EUR TL B | 1.87% | 97.19 | 95.41 | 14 |
| 5 | LANDESK TL B | 1.86% | 84.82 | 83.26 | 14 |
| 6 | OMNI LOGISTICS TL B | 1.51% | 97.75 | 96.30 | 12 |
| 7 | ANASTASIA BEVERLY HILLS TL B | 1.42% | 71.29 | 70.29 | 11 |
| 8 | CSC SERVICEWORKS INC TL | 1.24% | 84.44 | 83.41 | 15 |
| 9 | PLY GEM TL B | 1.07% | 97.30 | 96.26 | 6 |
| 10 | HELP SYSTEMS TL | 1.02% | 91.19 | 90.27 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/16/24-8/23/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LASERSHIP TL | -8.40% | 70.54 | 77.00 | 10 |
| 2 | HEARTHSIDE FOODS TL B2 | -2.12% | 71.59 | 73.14 | 12 |
| 3 | ASCEND PERFORMANCE MATERIALS TL B | -1.68% | 97.87 | 99.54 | 9 |
| 4 | RESTORATION HARDWARE TL B | -1.04% | 91.70 | 92.67 | 7 |
| 5 | AMEDES GROUP EUR TL B | -0.70% | 95.95 | 96.62 | 11 |
| 6 | FLEETPRIDE TL B | -0.54% | 98.75 | 99.28 | 7 |
| 7 | DELTA 2ND LIEN TL | -0.45% | 70.67 | 70.99 | 5 |
| 8 | NUMERICABLE TL B12 | -0.43% | 82.30 | 82.66 | 7 |
| 9 | AMERICAN BATH TL | -0.40% | 95.61 | 95.99 | 15 |
| 10 | HUNTER DOUGLAS TL B | -0.37% | 96.91 | 97.27 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/16/24-8/23/24 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 8/16/24-8/23/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/16/24 vs. the week ending 8/23/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | DIRECTV HLDGS LLC / DIRECTV EXT TL B | 38 | 88 | 50 | 132% |
| 2 | HILTON TL B | 48 | 92 | 44 | 92% |
| 3 | HILLMAN GROUP TL B | 30 | 66 | 36 | 120% |
| 4 | GRAY TELEVISION TL D | 73 | 106 | 33 | 45% |
| 5 | IDERA PHARMACEUTICALS INC TL B | 20 | 50 | 30 | 150% |
| 6 | FIRST STUDENT TL B | 32 | 62 | 30 | 94% |
| 7 | CAST & CREW TL B | 34 | 60 | 26 | 76% |
| 8 | CDK GLOBAL TL B | 70 | 96 | 26 | 37% |
| 9 | TEMPO ACQUISITION TL B | 30 | 54 | 24 | 80% |
| 10 | SIGNATURE AVIATION TL B | 20 | 44 | 24 | 120% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/16/24-8/23/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL K | 17 |
| 2 | TENNECO TL B | 17 |
| 3 | HILEX POLY TL B | 16 |
| 4 | ULTIMATE SOFTWARE TL B | 16 |
| 5 | BERRY PLASTICS TL | 16 |
| 6 | MEDLINE TL B | 16 |
| 7 | ZAYO TL | 16 |
| 8 | BERLIN PACKAGING TL B7 | 16 |
| 9 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 10 | ZIGGO EUR TL H | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/16/24-8/23/24
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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