Syndicated Bank Loan Market Summary – Week Ending 11/22/24
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Syndicated Bank Loan Market Summary: Week Ending 11/22/24
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 11/22/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Cotiviti Corp. | 4229 | Term Loan | 5/1/2031 | S+275 |
| CMG Media Corp. | 1800 | Term Loan | 6/18/2029 |
forward calendar
Forward calendar during the week ending 11/22/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Blackstone Mortage Trust | $450MM TLB | JPM | Q4 2023 |
| Opentext Corp. | $2.21B TLB | BCLY | Q4 2023 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/15/24 – 11/22/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.24% | 100.47 | 100.24 | 17 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.14% | 100.59 | 100.45 | 16 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.16% | 100.68 | 100.51 | 20 |
| 4 | 4,750 | ZAYO TL | 0.30% | 95.15 | 94.86 | 15 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.31% | 100.08 | 99.77 | 16 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.23% | 100.07 | 100.30 | 17 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.20% | 100.46 | 100.26 | 12 |
| 8 | 3,935 | SS&C TECH TL B8 | 0.10% | 100.39 | 100.29 | 18 |
| 9 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.13% | 100.59 | 100.46 | 14 |
| 10 | 3,859 | ALLIANT HLDGS I INC TL B | 0.35% | 100.56 | 100.21 | 20 |
| 11 | 3,640 | TRANSDIGM INC. TL J | -0.35% | 99.94 | 100.29 | 16 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.35% | 99.94 | 100.29 | 16 |
| 13 | 3,573 | CDK GLOBAL TL B | 0.02% | 100.02 | 100.00 | 16 |
| 14 | 3,566 | AIR MEDICAL PIK TL B | 0.07% | 100.18 | 100.11 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | 0.22% | 103.25 | 103.02 | 14 |
| 16 | 3,500 | WESTINGHOUSE TL B | -0.06% | 100.30 | 100.35 | 15 |
| 17 | 3,420 | RCN GRANDE TL | 0.05% | 86.76 | 86.71 | 14 |
| 18 | 3,380 | SOLERA TL B | 0.30% | 100.37 | 100.07 | 17 |
| 19 | 3,340 | PROOFPOINT TL B | 0.08% | 100.41 | 100.34 | 14 |
| 20 | 3,300 | NTL CABLE PLC TL N | 0.38% | 98.91 | 98.53 | 12 |
| AVERAGE | 4,072 | 0.10% | 99.46 | 99.53 | 15.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 11/15/24-11/22/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ACPRODUCTS TL B | 5.27% | 77.01 | 73.16 | 11 |
| 2 | SITEL LLC / SITEL FIN CORP TL B | 5.26% | 63.87 | 60.68 | 17 |
| 3 | TRAVELPORT TL B | 4.84% | 91.98 | 87.74 | 14 |
| 4 | VERIZON TL B2 | 3.12% | 97.02 | 94.08 | 8 |
| 5 | DENALI WATER SOLUTIONS TL B | 3.08% | 95.49 | 92.64 | 9 |
| 6 | DUPAGE MEDICAL GROUP TL B | 2.54% | 92.74 | 90.44 | 11 |
| 7 | GLOBAL UNIVERSITY EUR TL B | 2.03% | 99.11 | 97.14 | 11 |
| 8 | TENNECO TL B | 1.99% | 97.62 | 95.72 | 16 |
| 9 | DEXKO TL B | 1.55% | 94.56 | 93.12 | 18 |
| 10 | LUMEN TECHNOLOGIES TL B2 | 1.46% | 92.91 | 91.57 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/15/24-11/22/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | EIG INVESTORS TL B | -9.48% | 75.04 | 82.89 | 12 |
| 2 | MAGNOLIA 2ND LIEN TL | -7.97% | 84.00 | 91.27 | 9 |
| 3 | LANDESK TL B | -6.89% | 76.94 | 82.64 | 14 |
| 4 | TRINSEO TL B | -5.65% | 61.21 | 64.87 | 10 |
| 5 | TROPICANA TL | -3.49% | 67.06 | 69.48 | 18 |
| 6 | PLZ AEROSCIENCE TL B | -3.16% | 91.51 | 94.50 | 6 |
| 7 | VACO TL B | -2.09% | 94.59 | 96.61 | 7 |
| 8 | ASCEND PERFORMANCE MATERIALS TL B | -1.36% | 90.42 | 91.67 | 10 |
| 9 | PLASKOLITE TL | -1.33% | 95.41 | 96.70 | 9 |
| 10 | DUFF & PHELPS TL B | -1.25% | 96.98 | 98.20 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/15/24-11/22/24 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 11/15/24-11/22/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/15/24 vs. the week ending 11/22/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SIGNATURE AVIATION TL B | 48 | 94 | 46 | 96% |
| 2 | WHITE CAP BUYER LLC TL B | 120 | 160 | 40 | 33% |
| 3 | SITEL LLC / SITEL FIN CORP TL B | 52 | 92 | 40 | 77% |
| 4 | TRANSDIGM INC. TL I | 100 | 140 | 40 | 40% |
| 5 | TROPICANA TL | 64 | 101 | 37 | 58% |
| 6 | TRANSDIGM INC. TL K | 104 | 140 | 36 | 35% |
| 7 | PRINCE MINERALS TL | 102 | 136 | 34 | 33% |
| 8 | ELANCO ANIMAL HEALTH TL B | 104 | 136 | 32 | 31% |
| 9 | HUB INTL LTD TL B | 94 | 126 | 32 | 34% |
| 10 | US FOODS TL B | 78 | 110 | 32 | 41% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/15/24-11/22/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | HUB INTL LTD TL B | 20 |
| 2 | ALLIANT HLDGS I INC TL B | 20 |
| 3 | WHITE CAP BUYER LLC TL B | 20 |
| 4 | BMC SOFTWARE TL | 19 |
| 5 | AMWINS TL B | 19 |
| 6 | DAVITA TL B | 19 |
| 7 | REYNOLDS GROUP HOLDINGS LIMITED TL B3 | 18 |
| 8 | DEXKO TL B | 18 |
| 9 | TROPICANA TL | 18 |
| 10 | PRINCE MINERALS TL | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/15/24-11/22/24
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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