Syndicated Bank Loan Market Summary – Week Ending 9/6/24
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Syndicated Bank Loan Market Summary: Week Ending 9/6/24
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 9/6/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| TransDigm Group Inc. | 1500 | Term Loan | 1/1/2032 | S+250 |
| Austin Powder Hldgs Co. | Term Loan | 8/1/2031 | S+400 |
forward calendar
Forward calendar during the week ending 9/6/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| J. Crew | $450MM TLB (B2/B) | GS | Q3 2024 |
| Lifepoint Health Inc. | $1.845B TLB | CITI | Q3 2024 |
| Rockpoint Gas Storage | $1.25B TLB (B1/BB) | WF,RBC | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/30/24 – 9/6/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.14% | 100.06 | 100.20 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.12% | 100.09 | 100.21 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.10% | 99.93 | 100.03 | 14 |
| 4 | 4,750 | ZAYO TL | 1.93% | 93.68 | 91.90 | 16 |
| 5 | 4,750 | ZAYO TL | 1.93% | 93.68 | 91.90 | 16 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.18% | 99.53 | 99.71 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | -0.30% | 100.11 | 100.41 | 15 |
| 8 | 4,260 | NUMERICABLE TL B14 | 0.76% | 76.78 | 76.19 | 10 |
| 9 | 4,237 | INSPIRE BRANDS TL | -0.18% | 99.92 | 100.09 | 14 |
| 10 | 3,935 | SS&C TECH TL B8 | -0.11% | 100.14 | 100.25 | 16 |
| 11 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.31% | 100.17 | 100.47 | 15 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.19% | 99.92 | 100.10 | 15 |
| 13 | 3,640 | TRANSDIGM INC. TL J | -0.19% | 99.92 | 100.10 | 15 |
| 14 | 3,573 | CDK GLOBAL TL B | 0.16% | 98.92 | 98.76 | 14 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.33% | 103.01 | 103.36 | 13 |
| 16 | 3,500 | AMERICAN AIRLINES TL B | -0.33% | 103.01 | 103.36 | 13 |
| 17 | 3,500 | WESTINGHOUSE TL B | -0.11% | 99.97 | 100.07 | 13 |
| 18 | 3,420 | RCN GRANDE TL | 2.67% | 83.00 | 80.84 | 14 |
| 19 | 3,380 | SOLERA TL B | -0.29% | 98.84 | 99.13 | 16 |
| 20 | 3,340 | PROOFPOINT TL B | -0.05% | 99.98 | 100.03 | 11 |
| AVERAGE | 4,161 | 0.23% | 97.53 | 97.36 | 14.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 8/30/24-9/6/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACPRODUCTS TL B | 3.69% | 77.81 | 75.04 | 12 |
| 2 | RCN GRANDE TL | 2.67% | 83.00 | 80.84 | 14 |
| 3 | BAUSCH HEALTH COMPANIES INC. TL B | 2.16% | 95.01 | 93.01 | 8 |
| 4 | DENALI WATER SOLUTIONS TL B | 2.11% | 86.37 | 84.59 | 8 |
| 5 | ZAYO TL | 1.93% | 93.68 | 91.90 | 16 |
| 6 | CUBIC CORP TL B | 1.68% | 77.28 | 76.00 | 10 |
| 7 | LIFTOFF TL B | 1.61% | 96.35 | 94.83 | 10 |
| 8 | CONSOLIDATED COMMUNICATIONS TL B | 1.29% | 96.96 | 95.73 | 11 |
| 9 | WEBER-STEPHEN EXT TL B | 1.07% | 93.91 | 92.92 | 6 |
| 10 | PATHWAY PARTNERS VET MANAGEMENT TL | 1.06% | 83.60 | 82.72 | 11 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/30/24-9/6/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TROPICANA 2ND LIEN TL | -10.68% | 65.97 | 73.86 | 10 |
| 2 | RUNNER BUYER TL B | -3.50% | 49.02 | 50.80 | 11 |
| 3 | PHYSICIAN PARTNERS TL | -3.30% | 65.77 | 68.01 | 10 |
| 4 | INOVIE EUR TL B | -3.28% | 95.04 | 98.27 | 10 |
| 5 | USIC TL | -3.20% | 89.45 | 92.41 | 9 |
| 6 | MEDICAL SOLUTIONS TL | -3.17% | 73.42 | 75.82 | 10 |
| 7 | WORLDLINE EUR TL | -2.74% | 79.67 | 81.92 | 13 |
| 8 | BIOGROUP EUR TL B | -2.18% | 95.56 | 97.69 | 8 |
| 9 | ASCEND PERFORMANCE MATERIALS TL B | -1.47% | 95.52 | 96.94 | 9 |
| 10 | DUFF & PHELPS TL B | -1.33% | 97.87 | 99.19 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/30/24-9/6/24 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 8/30/24-9/6/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/30/24 vs. the week ending 9/6/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SITEL LLC / SITEL FIN CORP EUR TL B | 6 | 52 | 46 | 767% |
| 2 | CERBA HEALTHCARE EUR TL C | 34 | 74 | 40 | 118% |
| 3 | TECHEM EUR TL B5 | 44 | 82 | 38 | 86% |
| 4 | CONSTELLATION RENEWABLES TL B | 10 | 46 | 36 | 360% |
| 5 | CERBA HEALTHCARE EUR TL B | 38 | 74 | 36 | 95% |
| 6 | IMS HEALTH EUR TL B2 | 30 | 66 | 36 | 120% |
| 7 | ACTION NEDERLAND EUR TL B6 | 28 | 62 | 34 | 121% |
| 8 | CEPSA/MATADOR TL B | 12 | 44 | 32 | 267% |
| 9 | NTL CABLE PLC EUR TL R | 38 | 70 | 32 | 84% |
| 10 | THERAMEX EUR TL B | 22 | 54 | 32 | 145% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/30/24-9/6/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 18 |
| 2 | TRANSDIGM INC. TL K | 16 |
| 3 | SS&C TECH TL B8 | 16 |
| 4 | CEVA SANTE ANIMALE EUR TL B | 16 |
| 5 | WHITE CAP BUYER LLC TL B | 16 |
| 6 | AMWINS TL B | 16 |
| 7 | BERRY PLASTICS TL Z | 16 |
| 8 | LESLIE’S POOLMART TL B | 16 |
| 9 | SOLERA TL B | 16 |
| 10 | PETCO TL B | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/30/24-9/6/24
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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