Syndicated Bank Loan Market Summary – Week Ending 11/8/24
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Syndicated Bank Loan Market Summary: Week Ending 11/8/24
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 11/8/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| 1440 Foods Topco LLC | 875 | Term Loan | 10/15/2031 | S+500 |
forward calendar
Forward calendar during the week ending 11/8/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| TKO GROUP HOLDINGS INC | 2.955B TLB (Ba3/BB+) | ||
| FNZ | $2.146B TL (B3/B-) | BARC,BMO,STAN, USB | Q4 2024 |
| JOSTENS INC. (CHAMP ACQUISITION CORP.) | $450MM TLB(B2/B) | BofA, GS, MS, UBS and Wfgo | Q4 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/1/24 – 11/8/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.20% | 100.28 | 100.08 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.27% | 100.32 | 100.05 | 17 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.26% | 100.41 | 100.14 | 18 |
| 4 | 4,750 | ZAYO TL | 1.21% | 94.81 | 93.67 | 15 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.13% | 99.48 | 99.35 | 16 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.12% | 100.29 | 100.17 | 16 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.28% | 100.23 | 99.94 | 12 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.26% | 100.19 | 99.92 | 17 |
| 9 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.33% | 100.45 | 100.12 | 13 |
| 10 | 3,859 | ALLIANT HLDGS I INC TL B | 0.43% | 99.97 | 99.54 | 20 |
| 11 | 3,640 | TRANSDIGM INC. TL J | 0.16% | 100.20 | 100.04 | 15 |
| 12 | 3,640 | TRANSDIGM INC. TL J | 0.16% | 100.20 | 100.04 | 15 |
| 13 | 3,573 | CDK GLOBAL TL B | 0.50% | 99.84 | 99.34 | 15 |
| 14 | 3,500 | WESTINGHOUSE TL B | 0.20% | 100.26 | 100.05 | 15 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.19% | 102.95 | 102.75 | 14 |
| 16 | 3,420 | RCN GRANDE TL | -1.68% | 85.95 | 87.42 | 14 |
| 17 | 3,380 | SOLERA TL B | 0.67% | 99.80 | 99.14 | 16 |
| 18 | 3,340 | PROOFPOINT TL B | 0.17% | 100.24 | 100.07 | 13 |
| 19 | 3,300 | NTL CABLE PLC TL N | 1.22% | 98.16 | 96.98 | 12 |
| 20 | 3,250 | CORELOGIC TL B | 0.17% | 99.52 | 99.35 | 11 |
| AVERAGE | 4,056 | 0.26% | 99.18 | 99.69 | 15.0 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/1/24-11/8/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TRAVELPORT TL B | 2.71% | 87.75 | 85.43 | 14 |
| 2 | STAPLES TL B | 2.63% | 94.92 | 92.49 | 14 |
| 3 | SABRE TL B | 2.57% | 95.87 | 93.47 | 9 |
| 4 | COLISEE PATRIMOINE EUR TL B | 1.96% | 94.33 | 92.52 | 14 |
| 5 | MERLIN ENTERTAINMENTS TL B | 1.86% | 97.26 | 95.49 | 9 |
| 6 | HERBALIFE TL B | 1.69% | 97.07 | 95.46 | 11 |
| 7 | ADVANTAGE SALES TL B | 1.50% | 99.55 | 98.08 | 10 |
| 8 | GRIFOLS WORLDWIDE TL B | 1.45% | 98.53 | 97.12 | 13 |
| 9 | ASURION 2ND LIEN TL B4 | 1.42% | 96.55 | 95.20 | 9 |
| 10 | VERITAS US INC TL B | 1.33% | 96.83 | 95.55 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/1/24-11/8/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACPRODUCTS TL B | -8.39% | 76.10 | 83.07 | 11 |
| 2 | ANASTASIA BEVERLY HILLS TL B | -4.14% | 64.47 | 67.25 | 11 |
| 3 | SITEL LLC / SITEL FIN CORP TL B | -3.90% | 60.25 | 62.70 | 16 |
| 4 | EW SCRIPPS EXT TL B3 | -3.56% | 90.20 | 93.53 | 12 |
| 5 | OLAPLEX TL B | -2.99% | 93.73 | 96.61 | 12 |
| 6 | INMARSAT TL B | -2.79% | 88.08 | 90.61 | 7 |
| 7 | RCN GRANDE TL | -1.68% | 85.95 | 87.42 | 14 |
| 8 | EW SCRIPPS TL B2 | -1.60% | 96.50 | 98.07 | 12 |
| 9 | CABLEVISION TL B5 | -1.40% | 92.19 | 93.50 | 9 |
| 10 | CSC SERVICEWORKS INC TL | -1.34% | 85.30 | 86.46 | 15 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/1/24-11/8/24 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 11/1/24-11/8/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/1/24 vs. the week ending 11/8/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | THE HUT GROUP EUR TL B | 26 | 58 | 32 | 123% |
| 2 | ITP AERO TL B | 14 | 40 | 26 | 186% |
| 3 | R1 RCM HOLDCO INC TL B | 10 | 36 | 26 | 260% |
| 4 | FOUR SEASONS TL B | 34 | 52 | 18 | 53% |
| 5 | IU GROUP EUR TL B | 6 | 24 | 18 | 300% |
| 6 | DEDALUS EUR TL B | 41 | 59 | 18 | 44% |
| 7 | SMART START TL | 28 | 46 | 18 | 64% |
| 8 | MERLIN ENTERTAINMENTS EUR TL B | 38 | 56 | 18 | 47% |
| 9 | AVANTOR EUR TL B | 20 | 36 | 16 | 80% |
| 10 | GLOBAL UNIVERSITY EUR TL B | 30 | 46 | 16 | 53% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/1/24-11/8/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BMC SOFTWARE TL | 20 |
| 2 | ALLIANT HLDGS I INC TL B | 20 |
| 3 | TROPICANA TL | 20 |
| 4 | AMWINS TL B | 19 |
| 5 | WHITE CAP BUYER LLC TL B | 19 |
| 6 | HUB INTL LTD TL B | 18 |
| 7 | PRINCE MINERALS TL | 18 |
| 8 | CLYDESDALE ACQUISITION HOLDINGS INC TL B | 17 |
| 9 | ULTIMATE SOFTWARE TL B | 17 |
| 10 | STATION CASINO TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/1/24-11/8/24
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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