Syndicated Bank Loan Market Summary – Week Ending 9/27/24
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Syndicated Bank Loan Market Summary: Week Ending 9/27/24
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 9/27/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| BlueHalo | 532 | Term Loan | 10/31/2025 | S+500 |
| Univar Inc. | 2740 | Term Loan | 8/31/2030 | S+350 |
| Element Materials Technology Group | 1400 | Term Loan | 6/30/2029 | S+400 |
forward calendar
Forward calendar during the week ending 9/27/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Clean Harbors Inc. | $1.469B TLB | GS | Q3 2024 |
| Dave & Buster’s Inc. | $700MM TLB | DB | Q3 2024 |
| Supplyone Inc. | $903MM TLB | RBC | Q3 2024 |
| Ultra Clean Holdings Inc. | $497MM TLB | BCLY | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/20/24 – 9/27/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.03% | 99.96 | 100.00 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.10% | 100.00 | 100.10 | 17 |
| 3 | 5,098 | HUB INTL LTD TL B | -0.03% | 99.82 | 99.85 | 18 |
| 4 | 5,098 | HUB INTL LTD TL B | -0.03% | 99.82 | 99.85 | 18 |
| 5 | 4,750 | ZAYO TL | -1.44% | 91.30 | 92.63 | 15 |
| 6 | 4,750 | ZAYO TL | -1.44% | 91.30 | 92.63 | 15 |
| 7 | 4,741 | INTERNET BRANDS TL B | -0.05% | 99.30 | 99.35 | 15 |
| 8 | 4,525 | TRANSDIGM INC. TL I | -0.09% | 99.94 | 100.03 | 17 |
| 9 | 4,237 | INSPIRE BRANDS TL | -0.07% | 99.86 | 99.93 | 14 |
| 10 | 3,935 | SS&C TECH TL B8 | -0.06% | 99.97 | 100.03 | 16 |
| 11 | 3,935 | SS&C TECH TL B8 | -0.06% | 99.97 | 100.03 | 16 |
| 12 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.02% | 99.96 | 99.98 | 15 |
| 13 | 3,859 | ALLIANT HLDGS I INC TL B | -0.05% | 99.39 | 99.44 | 13 |
| 14 | 3,859 | ALLIANT HLDGS I INC TL B | -0.05% | 99.39 | 99.44 | 13 |
| 15 | 3,640 | TRANSDIGM INC. TL J | -0.19% | 99.56 | 99.76 | 17 |
| 16 | 3,640 | TRANSDIGM INC. TL J | -0.19% | 99.56 | 99.76 | 17 |
| 17 | 3,573 | CDK GLOBAL TL B | -0.01% | 98.87 | 98.88 | 17 |
| 18 | 3,573 | CDK GLOBAL TL B | -0.01% | 98.87 | 98.88 | 17 |
| 19 | 3,500 | WESTINGHOUSE TL B | -0.01% | 99.94 | 99.95 | 15 |
| 20 | 3,500 | AMERICAN AIRLINES TL B | -0.05% | 102.71 | 102.76 | 13 |
| AVERAGE | 4,282 | -0.20% | 98.97 | 99.16 | 15.7 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/20/24-9/27/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RACKSPACE HOSTING TL B | 7.75% | 54.57 | 50.65 | 7 |
| 2 | BLOUNT TL B | 2.60% | 74.01 | 72.13 | 14 |
| 3 | NUMERICABLE EUR TL B11 | 2.34% | 93.11 | 90.98 | 8 |
| 4 | DUPAGE MEDICAL GROUP TL B | 2.06% | 89.62 | 87.82 | 10 |
| 5 | TROPICANA TL | 1.88% | 81.48 | 79.97 | 15 |
| 6 | RADIOLOGY PARTNERS PIK TL B | 1.87% | 97.45 | 95.66 | 10 |
| 7 | CABLEVISION TL B5 | 1.83% | 90.36 | 88.74 | 10 |
| 8 | VERIZON TL B2 | 1.37% | 91.19 | 89.96 | 9 |
| 9 | EW SCRIPPS EXT TL B3 | 1.29% | 88.63 | 87.50 | 10 |
| 10 | FONCIA GROUPE EUR TL B | 1.19% | 95.08 | 93.97 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/20/24-9/27/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | BINGO INDUSTRIES TL | -6.81% | 86.83 | 93.17 | 6 |
| 2 | NEW FORTRESS ENERGY TL B | -2.75% | 89.87 | 92.42 | 11 |
| 3 | AMERICAN TIRE TL B | -2.59% | 60.28 | 61.89 | 12 |
| 4 | INOVIE EUR TL B | -2.49% | 94.01 | 96.41 | 11 |
| 5 | GOGO/AIRCELL TL B | -2.03% | 94.16 | 96.11 | 9 |
| 6 | WORLDLINE EUR TL | -1.74% | 76.54 | 77.90 | 13 |
| 7 | INMARSAT TL B | -1.71% | 94.00 | 95.63 | 7 |
| 8 | XELLA INTERNATIONAL GMBH EUR TL B | -1.70% | 91.03 | 92.61 | 14 |
| 9 | ZAYO TL | -1.48% | 92.04 | 93.42 | 16 |
| 10 | BEAVST EUR TL B | -1.19% | 93.53 | 94.66 | 12 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/20/24-9/27/24 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 9/20/24-9/27/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/20/24 vs. the week ending 9/27/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CLYDESDALE ACQUISITION HOLDINGS INC TL B | 18 | 127 | 109 | 606% |
| 2 | AHEAD TL B3 | 64 | 93 | 29 | 45% |
| 3 | SEDGWICK TL B | 62 | 84 | 22 | 35% |
| 4 | ALTICE FINANCING TL B | 26 | 46 | 20 | 77% |
| 5 | ALLIANT HLDGS I INC TL B | 53 | 72 | 19 | 36% |
| 6 | US SALT TL B | 88 | 106 | 18 | 20% |
| 7 | TRAVELPORT TL B | 58 | 76 | 18 | 31% |
| 8 | PLY GEM TL | 52 | 70 | 18 | 35% |
| 9 | MCGRAW-HILL GLOBAL TL B | 66 | 83 | 17 | 26% |
| 10 | EOC GROUP TL B | 68 | 84 | 16 | 24% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/20/24-9/27/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 20 |
| 2 | HUB INTL LTD TL B | 18 |
| 3 | INTERTAPE POLYMER US INC TL | 18 |
| 4 | TRANSDIGM INC. TL K | 18 |
| 5 | TRANSDIGM INC. TL J | 17 |
| 6 | WHITE CAP BUYER LLC TL B | 17 |
| 7 | SOLENIS TL B | 17 |
| 8 | CDK GLOBAL TL B | 17 |
| 9 | AMWINS TL B | 17 |
| 10 | SOLERA TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/20/24-9/27/24
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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