Syndicated Bank Loan Market Summary – Week Ending 1/24/25
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Syndicated Bank Loan Market Summary: Week Ending 1/24/25
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 1/24/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Citco Group LTD | 1190 | Term Loan | 4/27/2028 | S+275 |
| AAL Delaware Holdco Inc | 773 | Term Loan | 7/31/2031 | S+275 |
forward calendar
Forward calendar during the week ending 1/24/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Clearwater Analytics | $200MM RC; $800MM TLB | JPM | Q1 2025 |
| Townsquare Media Inc. | $460MM TL | BofA | Q1 2025 |
| Vistage Worldwide Inc. | $612.5MM TL | GLB | Q1 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/17/25-1/24/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,145 | MAGNOLIA TL | 0.57% | 93.91 | 93.38 | 13 |
| 2 | 5,098 | HUB INTL LTD TL B | 0.02% | 100.39 | 100.36 | 19 |
| 3 | 4,750 | ZAYO TL | 1.19% | 95.88 | 94.75 | 15 |
| 4 | 4,741 | INTERNET BRANDS TL B | -0.02% | 99.98 | 100.00 | 11 |
| 5 | 4,525 | TRANSDIGM INC. TL I | 0.01% | 100.49 | 100.47 | 16 |
| 6 | 4,226 | INSPIRE BRANDS TL B | -0.03% | 100.33 | 100.37 | 14 |
| 7 | 4,204 | JANE STREET TL B | -0.06% | 99.91 | 99.97 | 15 |
| 8 | 4,001 | CITADEL TL B | 0.04% | 100.52 | 100.48 | 13 |
| 9 | 3,935 | SS&C TECH TL B8 | 0.00% | 100.26 | 100.26 | 17 |
| 10 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.09% | 100.19 | 100.27 | 17 |
| 11 | 3,859 | ALLIANT HLDGS I INC TL B | 0.02% | 100.42 | 100.40 | 19 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.02% | 100.39 | 100.41 | 16 |
| 13 | 3,573 | CDK GLOBAL TL B | 0.11% | 99.14 | 99.03 | 15 |
| 14 | 3,500 | AMERICAN AIRLINES TL B | 0.00% | 102.46 | 102.46 | 15 |
| 15 | 3,420 | RCN GRANDE TL | 0.61% | 90.69 | 90.15 | 11 |
| 16 | 3,380 | SOLERA TL B | 0.01% | 100.18 | 100.17 | 18 |
| 17 | 3,340 | PROOFPOINT TL B | 0.12% | 100.66 | 100.54 | 13 |
| 18 | 3,250 | CORELOGIC TL B | 0.22% | 99.65 | 99.43 | 10 |
| 19 | 3,236 | PAREXEL INTERNATIONAL TL B | 0.05% | 100.43 | 100.38 | 12 |
| 20 | 3,100 | ASURION TL B8 | 0.03% | 99.94 | 99.91 | 10 |
| AVERAGE | 3,991 | 0.14% | 99.29 | 101.75 | 14.5 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 1/17/25-1/24/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RACKSPACE HOSTING TL B | 4.76% | 57.54 | 54.92 | 10 |
| 2 | TELESAT TL B5 | 4.06% | 59.47 | 57.15 | 10 |
| 3 | INNOVATIVE XCESSORIES TL | 2.87% | 98.88 | 96.12 | 13 |
| 4 | NUMERICABLE TL B13 | 2.85% | 84.65 | 82.31 | 9 |
| 5 | MAGNOLIA 2ND LIEN TL | 2.74% | 83.87 | 81.64 | 9 |
| 6 | CONSTANT CONTACT TL B | 2.46% | 90.39 | 88.22 | 11 |
| 7 | ALTICE FINANCING TL B | 1.90% | 86.83 | 85.21 | 12 |
| 8 | LOGMEIN TL | 1.87% | 93.57 | 91.85 | 8 |
| 9 | TRAVELPORT TL B | 1.71% | 94.04 | 92.46 | 14 |
| 10 | VIASAT INC TL B | 1.50% | 90.49 | 89.15 | 14 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/17/25-1/24/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | -3.43% | 89.45 | 92.62 | 16 |
| 2 | CARDENAS MARKETS TL B | -3.20% | 89.68 | 92.64 | 11 |
| 3 | CAST & CREW TL B | -1.47% | 93.25 | 94.64 | 7 |
| 4 | APPLIED SYSTEMS 2ND LIEN TL | -1.35% | 101.27 | 102.66 | 9 |
| 5 | AVAGO TL | -1.04% | 94.71 | 95.70 | 8 |
| 6 | IHEART TL | -0.90% | 89.09 | 89.90 | 10 |
| 7 | CPM HOLDINGS TL B | -0.73% | 94.21 | 94.90 | 8 |
| 8 | FOCUS FINANCIAL TL B8 | -0.65% | 100.36 | 101.01 | 10 |
| 9 | ASCEND LEARNING TL B | -0.64% | 100.03 | 100.67 | 11 |
| 10 | INEOS FIN TL B | -0.55% | 99.94 | 100.49 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/17/25-1/24/25 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 1/17/25-1/24/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/17/25 vs. the week ending 1/24/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BUCKEYE TL B | 30 | 88 | 58 | 193% |
| 2 | MADISON IAQ TL B | 2 | 54 | 52 | 2600% |
| 3 | PQ CORP TL B | 19 | 58 | 39 | 205% |
| 4 | CORNERSTONE TL B | 11 | 48 | 37 | 336% |
| 5 | VERTEX AEROSPACE TL B | 32 | 58 | 26 | 81% |
| 6 | COHERENT INC TL B | 20 | 46 | 26 | 130% |
| 7 | COVANTA HOLDING CORP TL B | 16 | 36 | 20 | 125% |
| 8 | GENERAL ELECTRIC DISTRIBUTED POWER EUR TL B | 24 | 42 | 18 | 75% |
| 9 | EPICOR SOFTWARE TL B | 80 | 98 | 18 | 23% |
| 10 | CARNIVAL PLC TL B | 6 | 24 | 18 | 300% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/17/25-1/24/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | GOLDEN NUGGET INC TL B | 19 |
| 2 | AMWINS TL B | 19 |
| 3 | TENNECO TL B | 19 |
| 4 | ALLIANT HLDGS I INC TL B | 19 |
| 5 | WHITE CAP BUYER LLC TL B | 19 |
| 6 | BMC SOFTWARE TL | 19 |
| 7 | HUB INTL LTD TL B | 19 |
| 8 | GO DADDY TL B | 18 |
| 9 | CSC SERVICEWORKS INC TL | 18 |
| 10 | SOLERA TL B | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/17/25-1/24/25
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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