Syndicated Bank Loan Market Summary – Week Ending 9/12/25
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Syndicated Bank Loan Market Summary: Week Ending 9/12/25
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 9/12/25
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| NEP NCP Holdco Inc. | 240 | Term Loan | 10/5/26 | S+700 |
| Technicolor | 60 | Term Loan | 9/26/26 | S+750 |
| OEConnection LLC | 1152 | Term Loan | 4/30/31 | S+525 |
| Party City Hldgs Inc. | 17 | Term Loan | 10/12/28 | S+600 |
forward calendar
Forward calendar during the week ending 9/12/25
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| Accelya Group | $600MM TL (B3/B-) | DB,GLB,HSBC,MUFG | Q3 2025 |
| Atkore Inc. | $373MM TLB | JPM | Q3 2025 |
| Liquid Tech Solutions | $932.5MM credit facilities | ANT,ARC,GLB,CTZ | Q3 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/5/25-9/12/25
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,272 | UKG INC (USD) TL S+250 2/9/2031 | 0.03% | 100.02 | 99.99 | 15 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | -0.65% | 83.87 | 84.42 | 14 |
| 3 | 5,621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | -0.10% | 100.13 | 100.23 | 14 |
| 4 | 5,080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 0.05% | 100.47 | 100.42 | 16 |
| 5 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | 0.04% | 96.35 | 96.32 | 14 |
| 6 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 1.50% | 93.87 | 92.48 | 12 |
| 7 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.00% | 100.48 | 100.49 | 14 |
| 8 | 4,655 | BELRON UK FIN PLC (USD) TL B S+250 10/16/2031 | 0.00% | 100.47 | 100.47 | 18 |
| 9 | 4,525 | TRANSDIGM INC (USD) TL I S+275 8/24/2028 | -0.24% | 100.00 | 100.24 | 17 |
| 10 | 4,511 | RADIATE HOLDCO LLC (USD) 1ST OUT TL S+500 9/25/2029 | -0.50% | 79.85 | 80.24 | 11 |
| 11 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.11% | 99.79 | 99.68 | 13 |
| 12 | 4,230 | TK ELEVATOR (US) NEWCO INC TL B | -0.05% | 100.26 | 100.30 | 14 |
| 13 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.02% | 99.98 | 99.96 | 15 |
| 14 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.07% | 99.84 | 99.77 | 18 |
| 15 | 4,074 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | 0.02% | 100.01 | 99.98 | 13 |
| 16 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.05% | 100.19 | 100.14 | 13 |
| 17 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.11% | 100.24 | 100.13 | 14 |
| 18 | 3,914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | 0.09% | 100.12 | 100.03 | 17 |
| 19 | 3,830 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | -0.05% | 99.76 | 99.81 | 19 |
| 20 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | -0.01% | 100.09 | 100.11 | 16 |
| AVERAGE | 4,566 | 0.02% | 97.79 | 85.26 | 14.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 9/5/25-9/12/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | PLZ AEROSCIENCE (USD) TL B S+375 8/3/2026 | 5.75% | 95.15 | 89.97 | 8 |
| 2 | BABILOU (EUR) TL B E+400 11/21/2030 | 4.92% | 92.62 | 88.28 | 12 |
| 3 | CASTLE (US) HLDG CORP (USD) 2ND OUT TL B1 S+425 5/31/2030 | 4.16% | 44.93 | 43.14 | 7 |
| 4 | STUBHUB (USD) TL B S+475 3/12/2030 | 3.69% | 99.22 | 95.69 | 4 |
| 5 | TRAVELPORT (USD) TL B S+875 9/29/2028 | 3.26% | 76.11 | 73.71 | 11 |
| 6 | IHEART (USD) TL S+577.5 5/1/2029 | 2.77% | 86.48 | 84.15 | 12 |
| 7 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 2.43% | 87.34 | 85.26 | 16 |
| 8 | SITEL LLC / SITEL FIN CORP (USD) TL B L+375 8/28/2028 | 2.16% | 45.20 | 44.24 | 15 |
| 9 | STYROLUTION (EUR) TL B E+450 3/8/2029 | 2.13% | 91.82 | 89.90 | 7 |
| 10 | RENAISSANCE LEARNING (USD) TL B S+400 4/7/2030 | 1.98% | 87.82 | 86.12 | 12 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 9/5/25-9/12/25
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | ATNAHS PHARMA UK LTD (EUR) TL B E+425 2/6/2030 | -12.81% | 65.74 | 75.40 | 12 |
| 2 | TRICO PRODUCTS (USD) TL S+500 3/30/2027 | -7.52% | 88.24 | 95.41 | 9 |
| 3 | VEONET (EUR) TL B E+475 4/8/2029 | -4.07% | 92.71 | 96.64 | 6 |
| 4 | WELD NORTH (USD) TL B S+350 12/15/2029 | -3.87% | 86.55 | 90.03 | 8 |
| 5 | TECTUM HOLDINGS INC (USD) TL B S+500 1/31/2028 | -3.08% | 90.93 | 93.82 | 10 |
| 6 | GI REVELATION (USD) TL B S+375 5/14/2028 | -2.97% | 88.60 | 91.31 | 11 |
| 7 | CERBA HEALTHCARE (EUR) TL C E+400 2/16/2029 | -1.96% | 69.86 | 71.25 | 11 |
| 8 | OREGON TOOL LUX LP (USD) 2L TL B S+400 10/15/2029 | -1.72% | 75.82 | 77.14 | 6 |
| 9 | IRIDIUM SATELLITE (USD) TL B S+225 9/20/2030 | -1.41% | 98.16 | 99.56 | 10 |
| 10 | PRE-PAID LEGAL SERVICES (USD) TL B S+325 12/15/2028 | -1.39% | 97.75 | 99.13 | 8 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/5/25-9/12/25 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 9/5/25-9/12/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/5/25 vs. the week ending 9/12/25
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | SIGNATURE AVIATION US HLDGS INC (USD) TL B1 S+250 7/1/2031 | 45 | 84 | 39 | 87% |
| 2 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 84 | 116 | 32 | 38% |
| 3 | PETCO (USD) TL B L+325 3/3/2028 | 72 | 104 | 32 | 44% |
| 4 | SIGNATURE AVIATION US HLDGS INC (USD) TL B S+275 7/1/2031 | 50 | 82 | 32 | 64% |
| 5 | BCP RENAISSANCE (USD) TL S+250 10/31/2028 | 0 | 30 | 30 | NA |
| 6 | LUMMUS TECH HLDGS V LLC (USD) TL S+250 12/31/2029 | 18 | 48 | 30 | 167% |
| 7 | NCR ATLEOS CORP (USD) TL S+275 9/24/2031 | 10 | 40 | 30 | 300% |
| 8 | FIESTA PURCHASER INC (USD) TL B S+275 2/12/2031 | 48 | 76 | 28 | 58% |
| 9 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 105 | 131 | 26 | 25% |
| 10 | CEDAR FAIR (USD) TL B S+200 4/19/2031 | 42 | 68 | 26 | 62% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/5/25-9/12/25
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 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 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 19 |
| 4 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 5 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 19 |
| 6 | BELRON UK FIN PLC (USD) TL B S+250 10/16/2031 | 18 |
| 7 | VIBRANTZ TECHS INC (USD) TL S+425 4/21/2029 | 18 |
| 8 | WHATABURGER (USD) TL B S+250 8/3/2028 | 18 |
| 9 | JANE STREET (USD) TL B S+200 12/10/2031 | 18 |
| 10 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/5/25-9/12/25
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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