Market Summary
September 2025

Syndicated Bank Loan Market Summary – Week Ending 8/29/25

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Syndicated Bank Loan Market Summary: Week Ending 8/29/25

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 8/29/25

ISSUERAMOUNT (MM)LOAN TYPEMATURITYRATE
Tivity Health Inc. 1105 Term Loan 6/29/2029 S+500
ON Semiconductor Corp. 1635 Term Loan 9/1/2026 S+200
CT Technologies Intermediate Hldgs Inc. 1165 Term Loan 8/29/2031 S+500

forward calendar

Forward calendar during the week ending 8/29/25

IssuerDeal InformationBanksExpected Issue Date
Calabrio Inc. $2.675B TL SNTD Q3 2025
Columbus McKinnon Corp. $1.825B credit facilities KKR Q3 2025
Warhorse Gaming LLC $300MM TL (B3/B) CTZ Q3 2025

Largest Loans

Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/22/25-8/29/25

RANKSIZE (MM)NAMECHANGEPRCPRC-1WDEALERS
1 6,272 UKG INC (USD) TL S+250 2/9/2031 0.04% 99.93 99.89 13
2 6,145 MAGNOLIA (USD) TL L+375 2/1/2028 0.09% 85.90 85.83 14
3 5,621 SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 0.19% 100.23 100.05 14
4 5,080 ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 0.12% 100.29 100.17 15
5 4,750 ZAYO (USD) TL L+300 3/9/2027 -0.13% 96.43 96.56 13
6 4,741 INTERNET BRANDS (USD) TL B S+425 4/20/2028 0.04% 92.63 92.60 13
7 4,664 PROOFPOINT (USD) TL B S+300 8/31/2028 0.24% 100.44 100.21 14
8 4,655 BELRON UK FIN PLC (USD) TL B S+250 10/16/2031 0.18% 100.50 100.33 17
9 4,525 TRANSDIGM INC (USD) TL I S+275 8/24/2028 0.11% 100.25 100.14 17
10 4,511 RADIATE HOLDCO LLC (USD) 1ST OUT TL S+500 9/25/2029 -1.71% 81.17 82.57 10
11 4,479 CLOUD SOFTWARE GROUP INC (USD) TL B S+350 3/30/2029 -0.06% 99.89 99.95 11
12 4,300 MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 -0.05% 99.73 99.78 12
13 4,230 TK ELEVATOR (US) NEWCO INC TL B -0.01% 100.29 100.30 14
14 4,226 INSPIRE BRANDS (USD) TL B S+250 12/15/2027 0.04% 99.92 99.88 15
15 4,204 JANE STREET (USD) TL B S+200 12/10/2031 0.06% 99.64 99.58 18
16 4,074 MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 0.02% 100.00 99.98 11
17 4,001 CITADEL (USD) TL B S+200 10/28/2031 0.07% 100.23 100.16 11
18 3,935 SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 -0.04% 100.13 100.16 16
19 3,914 BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 0.06% 99.94 99.88 17
20 3,859 ALLIANT HLDGS I INC (USD) TL B S+325 9/12/2031 -0.03% 99.65 99.67 18
AVERAGE 4,609 -0.04% 97.86 99.71 14.2

Top 10 Performers

Showcases the top 10 loan performers based on the largest bid price increases between 8/22/25-8/29/25

RANKNAMECHANGEPRCPRC-1WDEALERS
1 POWER BUYER (USD) TL S+450 2/7/2031 4.89% 84.41 80.48 11
2 INEOS FIN PLC (USD) TL B S+300 2/7/2031 2.56% 90.41 88.15 14
3 PETCO (USD) TL B L+325 3/3/2028 2.55% 96.16 93.77 16
4 CLOUDERA (USD) TL B L+375 10/8/2028 1.96% 97.45 95.58 7
5 PLY GEM (USD) TL B S+475 5/2/2031 1.85% 90.34 88.70 10
6 DIRECTV FNCG LLC (USD) TL B S+550 2/15/2031 1.78% 97.22 95.52 12
7 CORNERSTONE BLDG BRANDS INC (USD) TL L+325 4/12/2028 1.57% 94.63 93.16 15
8 VET INTERMEDIATE (USD) TL B S+500 9/19/2029 1.57% 87.46 86.12 8
9 B&G FOODS INC (USD) TL B S+350 10/27/2029 0.91% 94.91 94.06 11
10 ADVANTAGE SALES (USD) TL B S+425 10/28/2027 0.78% 84.91 84.26 12

Bottom 10 Performers

Showcases the bottom 10 loan performers based on the largest bid price decreases between 8/22/25-8/29/25

RANKNAMECHANGEPRCPRC-1WDEALERS
1 BARRACUDA (USD) 2L TL S+700 8/15/2030 -3.56% 51.85 53.77 8
2 KIK CUSTOM (USD) TL B S+400 6/26/2031 -2.77% 74.15 76.27 13
3 MAGENTA BUYER LLC (EUR) TL B E+350 3/1/2029 -2.54% 95.60 98.09 11
4 INOVIE (EUR) TL B E+500 3/3/2028 -2.50% 85.42 87.61 13
5 BCP V MODULAR SERVS FIN II PLC (EUR) TL B E+425.5 7/31/2031 -2.19% 93.46 95.55 13
6 TEKNI-PLEX (USD) TL B6 S+375 9/17/2028 -1.72% 95.44 97.12 11
7 RESTORATION HARDWARE (USD) TL B L+250 10/20/2028 -1.15% 95.77 96.88 10
8 BELLIS ACQUISITION CO PLC (EUR) TL B E+425 5/2/2031 -1.05% 96.15 97.17 15
9 NUMERICABLE (USD) TL B12 L+300 1/31/2026 -1.03% 88.30 89.22 5
10 TRONOX INC (USD) TL B S+250 4/4/2029 -0.85% 90.62 91.40 17

Avg Bid PX by Sector

Displays the average loan bid price by sector between 8/22/25-8/29/25 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 8/22/25-8/29/25

Top Quote Volume Movers: This Week vs Last Week

Exhibits the loans with the largest increase in quote volume for the week ending 8/22/25 vs. the week ending 8/29/25

RANKTRANCHEPRIOR WEEKTHIS WEEKINCREASE% INCREASE
1 BELRON UK FIN PLC (EUR) TL B E+300 10/16/2031 0 36 36 NA
2 ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 36 72 36 100%
3 TRINSEO (USD) TL B S+250 5/3/2028 0 34 34 NA
4 BERLIN PACKAGING LLC (USD) TL B7 S+325 6/7/2031 39 70 31 79%
5 EDGE FINCO PLC (EUR) TL B E+350 8/3/2031 0 30 30 NA
6 TRICORBRAUN (USD) TL B S+325 3/6/2031 36 64 28 78%
7 TEREX CORP (USD) TL B S+175 10/8/2031 40 62 22 55%
8 PAYSIMPLE (USD) TL B S+225 7/6/2031 8 28 20 250%
9 MARINER WEALTH ADVISORS (USD) TL B S+250 12/22/2030 6 25 19 317%
10 VISTAJET MALTA FINANCE P (USD) TL B S+375 4/1/2031 22 40 18 82%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 8/22/25-8/29/25

RANKTRANCHEDEALERS
1 FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 20
2 WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 20
3 AMWINS GROUP INC (USD) TL B S+225 1/23/2032 19
4 BMC SOFTWARE (USD) TL B S+325 7/30/2031 19
5 TRICORBRAUN (USD) TL B L+325 3/3/2028 19
6 INTL GAME TECH PLC (USD) TL B S+475 7/1/2032 19
7 HUB INTL LTD (USD) TL B S+250 6/20/2030 19
8 JANE STREET (USD) TL B S+200 12/10/2031 18
9 ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 18
10 WHATABURGER (USD) TL B S+250 8/3/2028 18

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 8/22/25-8/29/25

Sector Bid-Offer Spread

Results are based on 5 select industry sectors, however, we offer data across 36 sectors


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