Syndicated Bank Loan Market Summary – Week Ending 3/25/25
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 4/25/25
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 4/25/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| XPO Logistics Inc. | 700 | Term Loan | 5/10/2028 | S+175 |
| Ascend Performance Materials LLC | 2005 | Term Loan | 12/11/2028 | S+350 |
| Arcis Golf | 155 | Term Loan | 11/25/2028 | S+275 |
forward calendar
Forward calendar during the week ending 4/25/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| IGT Gaming | $3.575B credit facilities | DB,MQ | Q2 2025 |
| X Corp. | $1.225B TL | MS | Q2 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 4/17/25-4/25/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | 2.99% | 89.11 | 86.52 | 15 |
| 2 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | 2.70% | 92.81 | 90.36 | 13 |
| 3 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 2.22% | 93.36 | 91.34 | 11 |
| 4 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | 0.30% | 99.86 | 99.56 | 17 |
| 5 | 4,479 | TIBCO (USD) TL B S+350 3/30/2029 | 0.70% | 98.90 | 98.22 | 11 |
| 6 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.73% | 98.95 | 98.24 | 10 |
| 7 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.47% | 98.99 | 98.53 | 14 |
| 8 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.09% | 98.76 | 98.68 | 15 |
| 9 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.60% | 99.59 | 99.00 | 14 |
| 10 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.52% | 99.77 | 99.26 | 18 |
| 11 | 3,900 | DIRECTV FNCG LLC (USD) TL L+500 8/2/2027 | 0.23% | 99.75 | 99.52 | 10 |
| 12 | 3,859 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 0.51% | 99.35 | 98.84 | 19 |
| 13 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.38% | 99.00 | 98.62 | 17 |
| 14 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | -0.27% | 82.67 | 82.89 | 16 |
| 15 | 3,566 | GLOBAL MEDICAL RESPONSE INC (USD) PIK TL B S+550 10/2/2028 | 0.55% | 99.76 | 99.21 | 10 |
| 16 | 3,491 | WESTINGHOUSE (USD) TL B S+250 1/5/2031 | 0.47% | 99.12 | 98.66 | 16 |
| 17 | 3,420 | RADIATE HOLDCO LLC (USD) TL L+325 9/25/2026 | 1.71% | 85.45 | 84.02 | 11 |
| 18 | 3,393 | GENESYS TELECOM (USD) TL B S+250 1/23/2032 | 0.24% | 98.70 | 98.46 | 10 |
| 19 | 3,380 | SOLERA (USD) TL B L+400 6/2/2028 | 0.94% | 96.26 | 95.37 | 18 |
| 20 | 3,340 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.36% | 99.34 | 98.98 | 13 |
| AVERAGE | 4,043 | 0.82% | 96.48 | 98.98 | 13.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 4/17/25-4/25/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | HARBOR FREIGHT (USD) TL B S+250 6/5/2031 | 5.93% | 91.76 | 86.62 | 14 |
| 2 | ACPRODUCTS HLDGS INC (USD) TL B L+425 5/17/2028 | 4.36% | 66.55 | 63.77 | 12 |
| 3 | A-GAS (USD) TL B S+525 12/12/2029 | 3.32% | 86.97 | 84.18 | 6 |
| 4 | DEXKO (USD) TL B L+375 10/4/2028 | 3.23% | 91.97 | 89.09 | 15 |
| 5 | NGL ENERGY FIN CORP (USD) TL B S+400 2/2/2031 | 2.99% | 94.20 | 91.47 | 9 |
| 6 | OMNI LOGISTICS (USD) TL B S+400 9/20/2030 | 2.98% | 89.52 | 86.93 | 14 |
| 7 | AMERICAN TRAILER WORLD (USD) TL L+375 3/3/2028 | 2.94% | 78.02 | 75.80 | 18 |
| 8 | TENNECO INC (USD) TL A S+475 11/17/2028 | 2.94% | 94.07 | 91.39 | 8 |
| 9 | DAVE & BUSTER’S (USD) TL B S+325 9/26/2031 | 2.92% | 90.34 | 87.78 | 13 |
| 10 | ZAYO (USD) TL S+425 3/9/2027 | 2.76% | 93.42 | 90.91 | 17 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 4/17/25-4/25/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | EASTMAN TIRE ADDITIVES (USD) TL L+525 11/1/2028 | -8.44% | 53.23 | 58.14 | 6 |
| 2 | CHROME HOLDCO SAS (EUR) TL C E+400 2/16/2029 | -6.87% | 78.23 | 84.00 | 12 |
| 3 | VERACODE (USD) TL B S+475 5/2/2029 | -5.23% | 76.41 | 80.63 | 12 |
| 4 | ADVANTAGE SALES (USD) TL B S+425 10/28/2027 | -2.02% | 89.20 | 91.03 | 10 |
| 5 | SCUR-ALPHA 1503 GMBH (USD) TL B S+550 3/30/2030 | -1.38% | 88.59 | 89.83 | 8 |
| 6 | TORY BURCH LLC (USD) TL B L+350 4/16/2028 | -1.23% | 94.83 | 96.01 | 9 |
| 7 | INEOS FIN PLC (EUR) TL B E+275 11/8/2028 | -1.21% | 94.87 | 96.03 | 9 |
| 8 | COLISEE PATRIMOINE (EUR) TL B E+375 11/30/2027 | -1.01% | 54.90 | 55.46 | 14 |
| 9 | GLATFELTER CORP (USD) TL B S+425 10/11/2031 | -0.75% | 95.74 | 96.47 | 5 |
| 10 | CONSTANT CONTACT (USD) TL B L+400 2/10/2028 | -0.59% | 90.93 | 91.46 | 12 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 4/17/25-4/25/25 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 4/17/25-4/25/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 4/17/25 vs. the week ending 4/25/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TRICORBRAUN (USD) TL B L+325 3/3/2028 | 48 | 90 | 42 | 88% |
| 2 | FRONERI (USD) TL B S+200 9/16/2031 | 51 | 89 | 38 | 75% |
| 3 | CP ATLAS BUYER INC (USD) TL L+375 11/23/2027 | 67 | 98 | 31 | 46% |
| 4 | ION TRADING TECHS SARL (EUR) TL B E+425 4/1/2028 | 8 | 38 | 30 | 375% |
| 5 | BERLIN PACKAGING (USD) TL B S+350 6/9/2031 | 50 | 80 | 30 | 60% |
| 6 | HERTZ CORP (USD) TL B S+375 6/30/2028 | 32 | 62 | 30 | 94% |
| 7 | GO DADDY OPERATING CO LLC (USD) TL B7 S+200 5/15/2031 | 43 | 73 | 30 | 70% |
| 8 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 62 | 92 | 30 | 48% |
| 9 | MEDICAL SOLUTIONS (USD) TL L+350 11/1/2028 | 31 | 60 | 29 | 94% |
| 10 | CHROME HOLDCO SAS (EUR) TL C E+400 2/16/2029 | 0 | 28 | 28 | NA |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 4/17/25-4/25/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | 20 |
| 2 | ROCKET SOFTWARE INC (USD) TL B S+425 11/28/2028 | 19 |
| 3 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 19 |
| 4 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 19 |
| 5 | AMERICAN TRAILER WORLD (USD) TL L+375 3/3/2028 | 18 |
| 6 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 18 |
| 7 | FRONERI (USD) TL B S+200 9/16/2031 | 18 |
| 8 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 18 |
| 9 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
| 10 | SOLERA (USD) TL B L+400 6/2/2028 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 4/17/25-4/25/25
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.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
