Syndicated Bank Loan Market Summary – Week Ending 5/23/25
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Syndicated Bank Loan Market Summary: Week Ending 5/23/25
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
forward calendar
Forward calendar during the week ending 5/23/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Ahlstrom | $600MM TLB | GS,ND,BNP,MS,ING | Q2 2025 |
| CFC Group | $1.27B TL (B2/B-) | JPM | Q2 2025 |
| Mirion Technologies Inc. | $450MM TLB (Ba3/BB-) | CITI,JPM,MS,GS,TRS | Q2 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 5/16/25-5/23/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,631 | MEDLINE BORROWER LP (USD) TL S+225 10/21/2028 | -0.11% | 99.87 | 99.98 | 11 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | -1.50% | 85.61 | 86.92 | 11 |
| 3 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | -0.82% | 94.15 | 94.92 | 14 |
| 4 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | -0.69% | 96.40 | 97.07 | 11 |
| 5 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | -0.09% | 100.16 | 100.25 | 16 |
| 6 | 4,479 | TIBCO (USD) TL B S+350 3/30/2029 | -0.24% | 99.69 | 99.93 | 11 |
| 7 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | -0.03% | 99.57 | 99.61 | 12 |
| 8 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | -0.15% | 99.76 | 99.91 | 14 |
| 9 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | -0.29% | 99.56 | 99.85 | 16 |
| 10 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | -0.16% | 100.16 | 100.32 | 12 |
| 11 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | -0.01% | 100.28 | 100.29 | 15 |
| 12 | 3,859 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | -0.37% | 99.37 | 99.73 | 19 |
| 13 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | -0.20% | 99.77 | 99.96 | 16 |
| 14 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | -0.65% | 88.05 | 88.63 | 17 |
| 15 | 3,566 | AIR MEDICAL (USD) PIK TL B S+550 10/2/2028 | -0.08% | 99.92 | 100.00 | 10 |
| 16 | 3,491 | WESTINGHOUSE (USD) TL B S+250 1/5/2031 | -0.30% | 99.57 | 99.86 | 14 |
| 17 | 3,420 | RCN GRANDE (USD) TL L+325 9/25/2026 | 0.20% | 87.62 | 87.45 | 10 |
| 18 | 3,380 | SOLERA (USD) TL B L+400 6/2/2028 | -0.40% | 96.63 | 97.02 | 17 |
| 19 | 3,340 | PROOFPOINT (USD) TL B S+300 8/31/2028 | -0.22% | 99.60 | 99.82 | 12 |
| 20 | 3,119 | EPICOR SOFTWARE CORP (USD) TL B S+275 5/30/2031 | -0.15% | 100.01 | 100.17 | 14 |
| AVERAGE | 4,216 | -0.31% | 97.29 | 99.82 | 13.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 5/16/25-5/23/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LUMEN TECHS INC (USD) TL B2 S+235 4/15/2030 | 3.12% | 98.71 | 95.72 | 8 |
| 2 | DIGICERT (USD) 2L TL L+700 2/19/2029 | 2.35% | 85.30 | 83.35 | 8 |
| 3 | OREGON TOOL LUX LP (USD) 2L TL B S+400 10/15/2029 | 2.28% | 76.82 | 75.10 | 4 |
| 4 | KIK CUSTOM (USD) TL B S+400 6/26/2031 | 1.90% | 82.36 | 80.82 | 13 |
| 5 | STYROLUTION (EUR) TL B E+425 10/7/2031 | 1.81% | 95.11 | 93.41 | 10 |
| 6 | VANTAGE SPECIALTY (USD) TL B S+475 10/26/2026 | 1.56% | 97.18 | 95.69 | 10 |
| 7 | OGF(POMPES FUNEBRES GENERALE) (EUR) TL B E+500 12/21/2028 | 1.28% | 96.93 | 95.70 | 10 |
| 8 | ORBITER GROUP (EUR) TL B E+400 10/18/2028 | 0.84% | 93.28 | 92.51 | 13 |
| 9 | RV RETAILER (USD) TL B S+375 2/2/2028 | 0.82% | 92.11 | 91.35 | 11 |
| 10 | PETCO (USD) TL B L+325 3/3/2028 | 0.81% | 92.42 | 91.68 | 15 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 5/16/25-5/23/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | RINCHEM (USD) TL S+450 3/2/2029 | -6.83% | 67.37 | 72.30 | 10 |
| 2 | BRAND INDL SERVS INC (USD) TL B S+450 8/1/2030 | -4.97% | 85.28 | 89.74 | 13 |
| 3 | PRINCE MINERALS (USD) TL S+CSA+425 4/21/2029 | -4.62% | 86.62 | 90.81 | 15 |
| 4 | POWER BUYER (USD) TL S+450 2/7/2031 | -4.08% | 86.88 | 90.58 | 7 |
| 5 | RED VENTURES (USD) TL B S+275 3/3/2030 | -3.45% | 88.89 | 92.07 | 6 |
| 6 | VET INTERMEDIATE (USD) TL B S+500 9/19/2029 | -3.24% | 89.77 | 92.77 | 8 |
| 7 | US LBM (USD) TL B S+375 5/29/2031 | -2.69% | 91.55 | 94.08 | 8 |
| 8 | LEAF HOME SOLUTIONS (USD) TL S+475 2/16/2029 | -2.28% | 93.46 | 95.64 | 7 |
| 9 | MERLIN ENTERTAINMENTS (USD) TL B S+350 11/24/2029 | -1.94% | 95.10 | 96.98 | 9 |
| 10 | RESTORATION HARDWARE (USD) TL B L+250 10/20/2028 | -1.61% | 95.06 | 96.61 | 8 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 5/16/25-5/23/25 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 5/16/25-5/23/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 5/16/25 vs. the week ending 5/23/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | CUMULUS MEDIA (USD) TL B S+500 5/2/2029 | 3 | 30 | 27 | 900% |
| 2 | HELP SYSTEMS (USD) TL L+400 11/19/2026 | 22 | 48 | 26 | 118% |
| 3 | ALERA GROUP (USD) TL L+600 10/2/2028 | 2 | 26 | 24 | 1200% |
| 4 | DAVE & BUSTER’S (USD) TL B S+325 9/26/2031 | 40 | 63 | 23 | 58% |
| 5 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 100 | 122 | 22 | 22% |
| 6 | HILEX POLY (USD) TL B S+350 4/13/2029 | 60 | 82 | 22 | 37% |
| 7 | STUBHUB (USD) TL B S+475 3/12/2030 | 14 | 36 | 22 | 157% |
| 8 | TRICORBRAUN (USD) TL B L+325 3/3/2028 | 76 | 98 | 22 | 29% |
| 9 | ACPRODUCTS HLDGS INC (USD) TL B L+425 5/17/2028 | 44 | 65 | 21 | 48% |
| 10 | FRANKLIN ENERGY (USD) TL L+400 8/14/2026 | 2 | 22 | 20 | 1000% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 5/16/25-5/23/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 19 |
| 2 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 3 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 19 |
| 4 | CEVA SANTE ANIMALE (EUR) TL B E+350 11/30/2030 | 18 |
| 5 | ZIGGO (EUR) TL H E+300 1/17/2029 | 17 |
| 6 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 17 |
| 7 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | 17 |
| 8 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 17 |
| 9 | BROADSTREET PARTNERS INC (USD) TL B4 S+300 6/16/2031 | 17 |
| 10 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 5/16/25-5/23/25
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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