Syndicated Bank Loan Market Summary – Week Ending 12/13/24
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Syndicated Bank Loan Market Summary: Week Ending 12/13/24
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 12/13/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| The Edelman Financial Engines Center LLC | 2156 | Term Loan | 4/7/2028 | S+300 |
| Johnstone Supply | 1000 | Term Loan | 6/7/2031 | S+275 |
| Calpine Corp. | 730 | Term Loan | 1/31/2031 | S+200 |
| Trinity Bidco LTD. | 681 | Term Loan | 6/14/2030 | S+325 |
| Fugue Finance LLC | 500 | Term Loan | 12/30/2032 | S+325 |
forward calendar
Forward calendar during the week ending 12/13/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Altafiber (Cincinnati Bell Inc.) | $931MM TLB -2 | GS | Q4 2024 |
| American Airlaines Inc. | $1089B TLB , Soft 200 bps,0% floor | CITI | Q4 2024 |
| Ankura Consulting Group | 928MM TL (B2/B) Soft 325 bps,0.75% floor | DS | Q4 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/6/24 – 12/13/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,145 | MAGNOLIA TL | 2.71% | 93.84 | 91.37 | 12 |
| 2 | 6,143 | MEDLINE TL B | 0.03% | 100.66 | 100.63 | 18 |
| 3 | 5,098 | HUB INTL LTD TL B | 0.09% | 100.96 | 100.87 | 17 |
| 4 | 4,750 | ZAYO TL | -0.56% | 94.66 | 95.19 | 15 |
| 5 | 4,741 | INTERNET BRANDS TL B | -0.02% | 100.11 | 100.14 | 16 |
| 6 | 4,525 | TRANSDIGM INC. TL I | 0.03% | 100.42 | 100.40 | 16 |
| 7 | 4,237 | INSPIRE BRANDS TL | 0.02% | 100.25 | 100.23 | 11 |
| 8 | 4,001 | CITADEL TL B | 0.04% | 100.42 | 100.38 | 11 |
| 9 | 3,935 | SS&C TECH TL B8 | 0.00% | 100.45 | 100.45 | 17 |
| 10 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | 0.04% | 100.45 | 100.41 | 15 |
| 11 | 3,859 | ALLIANT HLDGS I INC TL B | 0.01% | 100.63 | 100.62 | 17 |
| 12 | 3,640 | TRANSDIGM INC. TL J | 0.03% | 100.26 | 100.23 | 15 |
| 13 | 3,640 | TRANSDIGM INC. TL J | 0.03% | 100.26 | 100.23 | 15 |
| 14 | 3,573 | CDK GLOBAL TL B | -0.41% | 99.14 | 99.55 | 15 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.13% | 102.93 | 103.07 | 13 |
| 16 | 3,500 | WESTINGHOUSE TL B | 0.04% | 100.52 | 100.48 | 15 |
| 17 | 3,420 | RCN GRANDE TL | 0.19% | 86.98 | 86.81 | 12 |
| 18 | 3,380 | SOLERA TL B | 0.00% | 100.41 | 100.41 | 17 |
| 19 | 3,380 | SOLERA TL B | 0.00% | 100.41 | 100.41 | 17 |
| 20 | 3,340 | PROOFPOINT TL B | 0.04% | 100.63 | 100.59 | 13 |
| AVERAGE | 4,135 | 0.11% | 99.22 | 100.59 | 14.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/6/24-12/13/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | TRINSEO TL B | 12.28% | 68.26 | 60.79 | 13 |
| 2 | PACKERS HOLDINGS TL | 6.61% | 50.00 | 46.90 | 7 |
| 3 | SITEL LLC / SITEL FIN CORP EUR TL B | 5.51% | 68.75 | 65.16 | 13 |
| 4 | TRAEGER TL | 3.24% | 97.38 | 94.32 | 14 |
| 5 | VIASAT INC TL B | 2.17% | 89.76 | 87.85 | 11 |
| 6 | RESTORATION HARDWARE TL B | 1.89% | 99.61 | 97.77 | 8 |
| 7 | AMERICAN TRAILER WORLD TL | 1.72% | 88.23 | 86.74 | 14 |
| 8 | VET INTERMEDIATE TL B | 1.55% | 96.24 | 94.77 | 9 |
| 9 | CAST & CREW TL B | 1.20% | 96.49 | 95.35 | 7 |
| 10 | HEXION INC 2ND LIEN TL | 1.04% | 94.40 | 93.43 | 9 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/6/24-12/13/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | VIASAT INC TL B | -8.90% | 87.53 | 96.09 | 9 |
| 2 | TROPICANA 2ND LIEN TL | -5.69% | 41.67 | 44.19 | 13 |
| 3 | HELP SYSTEMS TL | -3.70% | 88.16 | 91.55 | 11 |
| 4 | TRICO PRODUCTS TL B | -2.13% | 94.02 | 96.07 | 5 |
| 5 | DAVE & BUSTER’S TL B | -2.07% | 98.26 | 100.34 | 7 |
| 6 | CONSTANT CONTACT TL B | -1.87% | 92.18 | 93.94 | 10 |
| 7 | NUMERICABLE TL B11 | -1.19% | 91.01 | 92.10 | 9 |
| 8 | GAINWELL TL B | -0.81% | 96.63 | 97.42 | 7 |
| 9 | LAKESHORE LEARNING MATERIALS LLC TL | -0.58% | 98.50 | 99.08 | 8 |
| 10 | ZAYO TL | -0.56% | 94.66 | 95.19 | 15 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/6/24-12/13/24 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 12/6/24-12/13/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/6/24 vs. the week ending 12/13/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GOLDEN NUGGET INC TL B | 72 | 132 | 60 | 83% |
| 2 | ROCKET SOFTWARE TL B | 58 | 112 | 54 | 93% |
| 3 | GLOBALTRANZ ENTERPRISES TL B | 20 | 72 | 52 | 260% |
| 4 | OPEN TEXT CORP TL B | 6 | 54 | 48 | 800% |
| 5 | TIBCO TL B | 39 | 84 | 45 | 115% |
| 6 | LIFE TIME INC TL B | 16 | 59 | 43 | 269% |
| 7 | BROADSTREET PARTNERS TL B4 | 54 | 96 | 42 | 78% |
| 8 | PROTECTION1 TL B | 46 | 82 | 36 | 78% |
| 9 | TRANSMONTAIGNE PARTNERS L P TL B | 26 | 60 | 34 | 131% |
| 10 | ULTIMATE SOFTWARE TL B | 98 | 130 | 32 | 33% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/6/24-12/13/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | WHITE CAP BUYER LLC TL B | 19 |
| 2 | HUB INTL LTD TL B | 19 |
| 3 | AMWINS TL B | 18 |
| 4 | CSC SERVICEWORKS INC TL | 18 |
| 5 | TRANSDIGM INC. TL K | 18 |
| 6 | BMC SOFTWARE TL | 18 |
| 7 | ALLIANT HLDGS I INC TL B | 18 |
| 8 | MEDLINE TL B | 18 |
| 9 | SOLERA TL B | 17 |
| 10 | COLISEE PATRIMOINE EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/6/24-12/13/24
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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