Syndicated Bank Loan Market Summary – Week Ending 1/31/25
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Syndicated Bank Loan Market Summary: Week Ending 1/31/25
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 1/31/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| CommScope LLC | 3250 | Term Loan | 12/17/2029 | S+550 |
| Delta Topco Inc. | 1682 | Term Loan | 12/1/2029 | S+275 |
| EAB Global Inc. | 990 | Term Loan | 8/16/2030 | S+300 |
| EG Group | 1700 | Term Loan | 2/7/2028 | S+425 |
| Emerald Expositions Holding Inc. | 515 | Term Loan | 1/31/2032 | S+375 |
| Focus Financial Partners LLC | 325 | Delayed-draw Term Loan | 9/15/2031 | S+275 |
| Focus Financial Partners LLC | 3601 | Term Loan | 9/15/2031 | S+275 |
| Formula One Holdings | 850 | Term Loan | 9/29/2031 | S+200 |
| Formula One Holdings | 1700 | Term Loan | 9/30/2031 | S+200 |
| HireRight Inc. | 1039 | Term Loan | 9/27/2030 | S+325 |
| Kaman Corp. | 250 | Delayed-draw Term Loan | 1/30/2032 | S+275 |
| Kaman Corp. | 2650 | Term Loan | 12/30/2032 | S+275 |
| Touchdown Acquirer Inc | 888 | Term Loan | 2/21/2031 | S+275 |
forward calendar
Forward calendar during the week ending 1/31/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| 1-800 Contacts Inc | $1.503B TL (B2) | KKR | Q1 2025 |
| Air Transport Services Group Inc. (Stonepeak Nile Parent Llc) | $1.503B TLB (Ba1/BB/BBB-) | SMBC, JEF, MS, TFC, KKR, MFG, MUFG, NX, SAN | Q1 2025 |
| Al Gcx Holdings Llc | $793 MM TLB (Ba3/BB)) | BARC | Q1 2025+C23AA21:D23 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 1/24/25-1/31/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,145 | MAGNOLIA TL | -0.43% | 93.51 | 93.91 | 14 |
| 2 | 5,098 | HUB INTL LTD TL B | -0.01% | 100.38 | 100.39 | 19 |
| 3 | 4,750 | ZAYO TL | 0.20% | 96.07 | 95.88 | 16 |
| 4 | 4,741 | INTERNET BRANDS TL B | -0.91% | 99.07 | 99.98 | 12 |
| 5 | 4,525 | TRANSDIGM INC. TL I | -0.03% | 100.45 | 100.49 | 17 |
| 6 | 4,479 | TIBCO TL B | -0.02% | 100.66 | 100.68 | 14 |
| 7 | 4,226 | INSPIRE BRANDS TL B | -0.03% | 100.30 | 100.33 | 15 |
| 8 | 4,204 | JANE STREET TL B | -0.05% | 99.86 | 99.91 | 16 |
| 9 | 4,001 | CITADEL TL B | 0.06% | 100.58 | 100.52 | 14 |
| 10 | 3,935 | SS&C TECH TL B8 | 0.01% | 100.27 | 100.26 | 18 |
| 11 | 3,900 | DIRECTV HLDGS LLC / DIRECTV TL | -0.14% | 100.04 | 100.19 | 15 |
| 12 | 3,859 | ALLIANT HLDGS I INC TL B | -0.12% | 100.30 | 100.42 | 21 |
| 13 | 3,642 | MASMOVIL IBERCOM SA EUR TL B3 | 0.19% | 100.49 | 100.30 | 14 |
| 14 | 3,640 | TRANSDIGM INC. TL J | -0.02% | 100.38 | 100.39 | 18 |
| 15 | 3,573 | CDK GLOBAL TL B | -3.82% | 95.35 | 99.14 | 17 |
| 16 | 3,500 | AMERICAN AIRLINES TL B | -0.10% | 102.36 | 102.46 | 15 |
| 17 | 3,420 | RCN GRANDE TL | -1.67% | 89.18 | 90.69 | 11 |
| 18 | 3,380 | SOLERA TL B | -0.09% | 100.09 | 100.18 | 18 |
| 19 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -3.35% | 83.86 | 86.76 | 11 |
| 20 | 3,340 | PROOFPOINT TL B | -0.09% | 100.57 | 100.66 | 16 |
| AVERAGE | 4,085 | -0.52% | 98.19 | 99.65 | 15.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 1/24/25-1/31/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ASCEND PERFORMANCE MATERIALS TL B | 10.97% | 74.72 | 67.34 | 14 |
| 2 | DELL SOFTWARE GROUP 2ND LIEN TL | 6.01% | 25.70 | 24.24 | 9 |
| 3 | CUBIC CORP TL B | 2.95% | 68.88 | 66.91 | 13 |
| 4 | CHEPLAPHARM ARZNEIMITTEL EUR TL B | 2.08% | 91.30 | 89.45 | 16 |
| 5 | CAST & CREW TL | 1.67% | 94.46 | 92.91 | 8 |
| 6 | FONCIA GROUPE EUR TL B | 1.37% | 89.12 | 87.91 | 15 |
| 7 | CONSTANT CONTACT TL B | 1.30% | 91.56 | 90.39 | 10 |
| 8 | NUMERICABLE EUR TL B14 | 1.18% | 84.79 | 83.80 | 8 |
| 9 | CERBA HEALTHCARE EUR TL D | 1.16% | 92.85 | 91.78 | 13 |
| 10 | CORNERSTONE BUILDING BRANDS TL | 1.11% | 95.02 | 93.97 | 12 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 1/24/25-1/31/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | BLOUNT TL B | -14.47% | 52.67 | 61.58 | 11 |
| 2 | PRETIUM PACKAGING TL A | -13.84% | 66.58 | 77.28 | 10 |
| 3 | BABILOU EUR TL B | -4.63% | 92.14 | 96.61 | 13 |
| 4 | CDK GLOBAL TL B | -3.82% | 95.35 | 99.14 | 17 |
| 5 | THE NIELSEN COMPANY B.V. TL A | -3.37% | 83.55 | 86.46 | 9 |
| 6 | EASTMAN TIRE ADDITIVES TL | -3.04% | 71.36 | 73.60 | 9 |
| 7 | IDERA PHARMACEUTICALS INC TL B | -1.99% | 95.06 | 96.98 | 9 |
| 8 | INMARSAT TL B | -1.87% | 86.92 | 88.58 | 10 |
| 9 | INTERNET BRANDS TL B4 | -1.81% | 97.24 | 99.02 | 10 |
| 10 | TELESAT TL B5 | -1.78% | 58.42 | 59.47 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/24/25-1/31/25 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 1/24/25-1/31/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 1/24/25 vs. the week ending 1/31/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GENESEE & WYOMING TL B | 61 | 121 | 60 | 98% |
| 2 | EXAMWORKS TL B | 58 | 108 | 50 | 86% |
| 3 | SIGNATURE AVIATION TL B | 52 | 102 | 50 | 96% |
| 4 | ADIENT GLOBAL TL B | 28 | 74 | 46 | 164% |
| 5 | FLEXERA SOFTWARE TL | 44 | 88 | 44 | 100% |
| 6 | PROOFPOINT TL B | 72 | 116 | 44 | 61% |
| 7 | ONTIC TL B | 32 | 74 | 42 | 131% |
| 8 | CINCINNATI BELL TL B2 | 20 | 62 | 42 | 210% |
| 9 | BUCKEYE TL B | 88 | 130 | 42 | 48% |
| 10 | WHITE CAP BUYER LLC TL B | 136 | 178 | 42 | 31% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/24/25-1/31/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ALLIANT HLDGS I INC TL B | 21 |
| 2 | WHITE CAP BUYER LLC TL B | 20 |
| 3 | GOLDEN NUGGET INC TL B | 20 |
| 4 | AMWINS TL B | 19 |
| 5 | TENNECO TL B | 19 |
| 6 | TRANSDIGM INC. TL K | 19 |
| 7 | BMC SOFTWARE TL | 19 |
| 8 | HUB INTL LTD TL B | 19 |
| 9 | GO DADDY TL B | 19 |
| 10 | DAVITA TL B | 19 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/24/25-1/31/25
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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