Syndicated Bank Loan Market Summary – Week Ending 8/1/25
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Syndicated Bank Loan Market Summary: Week Ending 8/1/25
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 8/1/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Flexsys Inc. Of Ohio | 392 | Term Loan | 8/1/2029 | S+525 |
| Franchise Group Intermediate Holdco LLC | 438 | Term Loan | 6/6/2030 | S+800 |
| Speedster Bidco GmbH | 1060 | Term Loan | 10/17/2031 | E+350 |
| Gate Gourmet Borrower LLC | 675 | Term Loan | 5/28/2032 | E+425 |
forward calendar
Forward calendar during the week ending 8/1/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Alaska Air | $744MM TLB | BofA | Q3 2025 |
| Garrett Motion Inc. | $690MM TL | JPM | Q3 2025 |
| Pushpay USA Inc. | $408MM TL | JEFF | Q3 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 7/25/25-8/1/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 7,631 | MEDLINE BORROWER LP (USD) TL S+225 10/21/2028 | 0.06% | 100.04 | 99.99 | 13 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | -0.34% | 88.74 | 89.04 | 12 |
| 3 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | 0.04% | 95.08 | 95.04 | 15 |
| 4 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | -0.62% | 94.88 | 95.47 | 13 |
| 5 | 4,690 | BELRON UK FIN PLC (USD) TL B S+275 10/1/2031 | -0.06% | 100.28 | 100.34 | 14 |
| 6 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | -0.31% | 100.04 | 100.35 | 12 |
| 7 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | -0.10% | 100.27 | 100.37 | 18 |
| 8 | 4,479 | CLOUD SOFTWARE GROUP INC (USD) TL B S+350 3/30/2029 | -0.18% | 100.03 | 100.21 | 10 |
| 9 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.40% | 99.67 | 99.27 | 12 |
| 10 | 4,230 | TK ELEVATOR (US) NEWCO INC TL B | -0.19% | 100.35 | 100.54 | 16 |
| 11 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | -0.12% | 99.88 | 100.00 | 16 |
| 12 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | -0.11% | 99.54 | 99.64 | 17 |
| 13 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | -0.14% | 100.25 | 100.39 | 15 |
| 14 | 3,900 | DIRECTV FNCG LLC (USD) TL L+500 8/2/2027 | -0.14% | 100.08 | 100.22 | 10 |
| 15 | 3,859 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | -0.26% | 99.86 | 100.12 | 21 |
| 16 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | -0.07% | 100.22 | 100.30 | 17 |
| 17 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 1.73% | 80.72 | 79.35 | 18 |
| 18 | 3,566 | AIR MEDICAL (USD) PIK TL B S+550 10/2/2028 | -0.13% | 99.95 | 100.08 | 11 |
| 19 | 3,515 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | -0.22% | 99.94 | 100.16 | 21 |
| 20 | 3,491 | WESTINGHOUSE (USD) TL B S+250 1/5/2031 | -0.20% | 99.90 | 100.10 | 16 |
| AVERAGE | 4,403 | -0.05% | 97.99 | 100.00 | 14.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 7/25/25-8/1/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | VERIZON (USD) TL B2 L+550 9/1/2027 | 4.22% | 95.46 | 91.59 | 8 |
| 2 | TROPICANA (USD) 2ND OUT TL S+1100 1/24/2029 | 2.45% | 74.31 | 72.53 | 9 |
| 3 | ORBITER GROUP (EUR) TL B E+400 10/18/2028 | 2.04% | 90.44 | 88.63 | 13 |
| 4 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 1.73% | 80.72 | 79.35 | 18 |
| 5 | PARTS AUTHORITY (USD) TL L+350 10/28/2027 | 1.67% | 80.37 | 79.05 | 11 |
| 6 | JETBLUE AIRWAYS CORP (USD) TL B S+475 8/27/2029 | 1.64% | 93.69 | 92.18 | 10 |
| 7 | HOUSE OF HR GROUP BV (EUR) TL B E+500 11/3/2029 | 1.44% | 97.66 | 96.28 | 13 |
| 8 | QUIRCH FOODS (USD) TL B L+450 10/27/2027 | 1.43% | 97.48 | 96.10 | 10 |
| 9 | BAUSCH HEALTH COMPANIES INC. (USD) TL B S+625 10/3/2030 | 1.27% | 98.16 | 96.94 | 8 |
| 10 | CERAMTEC (EUR) TL B E+425 3/16/2029 | 0.73% | 97.53 | 96.82 | 12 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 7/25/25-8/1/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | LESLIE’S POOLMART (USD) TL B L+275 3/9/2028 | -29.32% | 46.75 | 66.14 | 15 |
| 2 | TRONOX INC (USD) TL B S+250 9/18/2031 | -10.03% | 87.98 | 97.78 | 13 |
| 3 | CRH EUROPE (EUR) TL B E+475 12/28/2029 | -4.46% | 89.13 | 93.29 | 14 |
| 4 | ATNAHS PHARMA UK LTD (EUR) TL B E+425 2/6/2030 | -4.42% | 77.18 | 80.75 | 13 |
| 5 | PRINCE MINERALS (USD) TL S+CSA+425 4/21/2029 | -3.52% | 83.15 | 86.18 | 15 |
| 6 | KIK CUSTOM (USD) TL B S+400 6/26/2031 | -3.05% | 84.57 | 87.23 | 12 |
| 7 | INEOS FIN PLC (USD) TL B S+300 2/7/2031 | -3.03% | 92.01 | 94.89 | 14 |
| 8 | ORGANON & CO (USD) TL B S+225 5/17/2031 | -2.71% | 95.04 | 97.69 | 3 |
| 9 | CONAIR HLDGS LLC (USD) TL L+375 5/17/2028 | -2.59% | 72.94 | 74.88 | 8 |
| 10 | WELD NORTH (USD) TL B S+350 12/15/2029 | -2.44% | 94.93 | 97.30 | 7 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 7/25/25-8/1/25 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 7/25/25-8/1/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 7/25/25 vs. the week ending 8/1/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | REFRESCO (EUR) TL B E+350 7/25/2029 | 16 | 60 | 44 | 275% |
| 2 | AUTODATA (USD) TL B S+275 7/16/2031 | 10 | 51 | 41 | 410% |
| 3 | CHAMBERLAIN GROUP (USD) TL B S+325 7/22/2032 | 28 | 66 | 38 | 136% |
| 4 | DAVITA INC (USD) TL B1 S+175 5/9/2031 | 29 | 66 | 37 | 128% |
| 5 | AMEDES GROUP (EUR) TL B E+375 10/12/2028 | 8 | 36 | 28 | 350% |
| 6 | SIGNATURE AVIATION US HLDGS INC (USD) TL B S+275 7/1/2031 | 70 | 94 | 24 | 34% |
| 7 | INTL GAME TECH PLC (USD) TL B S+475 7/1/2032 | 82 | 104 | 22 | 27% |
| 8 | CASTLE (US) HLDG CORP (USD) 2ND OUT TL B1 S+425 5/31/2030 | 8 | 28 | 20 | 250% |
| 9 | CENTURY DE BUYER LLC (USD) TL B S+350 10/30/2030 | 36 | 56 | 20 | 56% |
| 10 | DELL SOFTWARE GROUP (USD) 3RD OUT TL S+425 2/1/2029 | 27 | 45 | 18 | 67% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 7/25/25-8/1/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 22 |
| 2 | ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 | 21 |
| 3 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 21 |
| 4 | GOLDEN NUGGET INC (USD) TL B S+350 1/27/2029 | 21 |
| 5 | TRICORBRAUN (USD) TL B L+325 3/3/2028 | 20 |
| 6 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 20 |
| 7 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 20 |
| 8 | INTL GAME TECH PLC (USD) TL B S+475 7/1/2032 | 19 |
| 9 | HARBOR FREIGHT (USD) TL B S+250 6/5/2031 | 19 |
| 10 | WHATABURGER (USD) TL B S+250 8/3/2028 | 19 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 7/25/25-8/1/25
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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