Syndicated Bank Loan Market Summary – Week Ending 10/4/24
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Syndicated Bank Loan Market Summary: Week Ending 10/4/24
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 10/4/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Supplyone, Inc. | 40 | Term Loan | 4/20/2031 | S+375 |
| GSM Outdoors LLC | 900 | Term Loan | 9/20/2031 | S+475 |
| Uber Technologies Inc. | 5000 | Revolving Credit | 9/26/2029 | S+100 |
forward calendar
Forward calendar during the week ending 10/4/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Clean Harbors Inc. | $1.469B TLB | GS | Q3 2024 |
| Epic Crude | $1.2B TLB | GS | Q3 2024 |
| Supplyone Inc. | $903MM TLB | RBC | Q3 2024 |
| US Fertility Enterprises | $635MM credit facilities | KEY | Q3 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/27/24 – 10/4/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.06% | 100.02 | 99.96 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.05% | 100.06 | 100.00 | 17 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.15% | 99.97 | 99.82 | 19 |
| 4 | 5,098 | HUB INTL LTD TL B | 0.15% | 99.97 | 99.82 | 19 |
| 5 | 4,750 | ZAYO TL | 2.51% | 93.59 | 91.30 | 15 |
| 6 | 4,750 | ZAYO TL | 2.51% | 93.59 | 91.30 | 15 |
| 7 | 4,741 | INTERNET BRANDS TL B | -0.03% | 99.27 | 99.30 | 15 |
| 8 | 4,525 | TRANSDIGM INC. TL I | 0.14% | 100.07 | 99.94 | 17 |
| 9 | 4,237 | INSPIRE BRANDS TL | 0.06% | 99.92 | 99.86 | 13 |
| 10 | 3,935 | SS&C TECH TL B8 | 0.02% | 99.99 | 99.97 | 16 |
| 11 | 3,935 | SS&C TECH TL B8 | 0.02% | 99.99 | 99.97 | 16 |
| 12 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.11% | 99.85 | 99.96 | 16 |
| 13 | 3,859 | ALLIANT HLDGS I INC TL B | 0.07% | 99.46 | 99.39 | 16 |
| 14 | 3,859 | ALLIANT HLDGS I INC TL B | 0.07% | 99.46 | 99.39 | 16 |
| 15 | 3,640 | TRANSDIGM INC. TL J | 0.17% | 99.73 | 99.56 | 16 |
| 16 | 3,640 | TRANSDIGM INC. TL J | 0.17% | 99.73 | 99.56 | 16 |
| 17 | 3,573 | CDK GLOBAL TL B | 0.34% | 99.21 | 98.87 | 17 |
| 18 | 3,573 | CDK GLOBAL TL B | 0.34% | 99.21 | 98.87 | 17 |
| 19 | 3,500 | WESTINGHOUSE TL B | 0.09% | 100.03 | 99.94 | 15 |
| 20 | 3,500 | AMERICAN AIRLINES TL B | -0.03% | 102.68 | 102.71 | 13 |
| AVERAGE | 4,282 | 0.34% | 99.29 | 98.97 | 16.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/27/24-10/4/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | SINCLAIR BROADCAST GROUP INC. TL B4 | 5.67% | 76.91 | 72.78 | 6 |
| 2 | NEW FORTRESS ENERGY TL B | 4.45% | 93.87 | 89.87 | 12 |
| 3 | NATIONAL MENTOR TL B | 2.79% | 98.36 | 95.69 | 15 |
| 4 | LANDESK TL B | 2.63% | 86.35 | 84.14 | 12 |
| 5 | ZAYO TL | 2.51% | 93.59 | 91.30 | 15 |
| 6 | LUMEN TECHNOLOGIES TL B2 | 2.50% | 87.73 | 85.60 | 11 |
| 7 | NUMERICABLE EUR TL B11 | 2.29% | 95.24 | 93.11 | 9 |
| 8 | INTERIOR LOGIC TL B | 1.22% | 90.15 | 89.06 | 9 |
| 9 | SYNCSORT 2ND LIEN TL | 1.04% | 94.15 | 93.18 | 6 |
| 10 | DUPAGE MEDICAL GROUP TL B | 1.03% | 90.55 | 89.62 | 10 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/27/24-10/4/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RSA SECURITY LLC 2ND LIEN TL | -11.45% | 61.63 | 69.60 | 9 |
| 2 | PRETIUM PACKAGING 2ND LIEN TL | -7.19% | 38.12 | 41.07 | 12 |
| 3 | AMERICAN TIRE TL B | -6.46% | 56.39 | 60.28 | 12 |
| 4 | ANASTASIA BEVERLY HILLS TL B | -5.64% | 67.15 | 71.16 | 11 |
| 5 | KIK CUSTOM TL B | -4.59% | 93.92 | 98.43 | 11 |
| 6 | SITEL LLC / SITEL FIN CORP TL B | -2.66% | 65.41 | 67.20 | 15 |
| 7 | UPSTREAM REHABILITATION TL | -2.16% | 85.01 | 86.89 | 14 |
| 8 | TENNECO TL A | -1.53% | 93.55 | 95.00 | 11 |
| 9 | WIDEOPENWEST TL B | -1.11% | 83.24 | 84.18 | 14 |
| 10 | ASCEND PERFORMANCE MATERIALS TL B | -1.10% | 91.59 | 92.61 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/27/24-10/4/24 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 9/27/24-10/4/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/27/24 vs. the week ending 10/4/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | EMERALD EXPOSITIONS TL B | 18 | 52 | 34 | 189% |
| 2 | US RENAL CARE TL B | 17 | 40 | 23 | 135% |
| 3 | BMC SOFTWARE EUR TL | 24 | 44 | 20 | 83% |
| 4 | BUCKEYE TL B | 72 | 90 | 18 | 25% |
| 5 | ALLIANT HLDGS I INC TL B | 74 | 88 | 14 | 19% |
| 6 | ASPECT SOFTWARE SO TL B | 0 | 14 | 14 | NA |
| 7 | GEO GROUP TL | 30 | 44 | 14 | 47% |
| 8 | ICON PLC TL B | 2 | 14 | 12 | 600% |
| 9 | LIFEPOINT HOSPITALS TL B | 45 | 57 | 12 | 27% |
| 10 | BOYD CORP TL B | 32 | 44 | 12 | 38% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/27/24-10/4/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 20 |
| 2 | HUB INTL LTD TL B | 19 |
| 3 | AMWINS TL B | 18 |
| 4 | SOLERA TL B | 18 |
| 5 | INTERTAPE POLYMER US INC TL | 18 |
| 6 | TRANSDIGM INC. TL K | 18 |
| 7 | CDK GLOBAL TL B | 17 |
| 8 | WHITE CAP BUYER LLC TL B | 17 |
| 9 | EPICOR SOFTWARE TL | 17 |
| 10 | PRINCE MINERALS TL | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/27/24-10/4/24
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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