Syndicated Bank Loan Market Summary – Week Ending 10/24/25
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 10/24/25
| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Nomad Foods | 825 | Term Loan | 11/12/2029 | S+425 |
| American Tower Corp. | 1,500 | Delayed-draw Term Loan | 12/8/2023 | S+125 |
| Reliance Industries LTD | 650 | Term Loan | 5/31/2025 | S+106 |
| Madison Square Garden | 650 | Term Loan | 6/30/2027 | S+350 |
Forward Calendar
Forward calendar during the week ending 10/24/25
| Issuer | Deal Information | Banks | Expected Issue Date |
| Air Control Concepts | $150MM TLs: $125MM TLB, $25MM DD | BofA, TRS, MUFG, CO, TD | Q4 2025 |
| Calabrio Inc. | $1.5B TL | SD | Q4 2025 |
| Sevita | $2.507B TL (B3/B-) | GS, BCLY, MS, RBC, TRS | Q4 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 10/17/25-10/24/25
| Rank | Size (MM) | Name | Change | PRC | PRC-1W | Dealers |
| 1 | 6,272 | UKG INC (USD) TL S+250 2/9/2031 | ▲ 0.09% | 99.72 | 99.63 | 15 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | ▼ -0.34% | 83.44 | 83.73 | 15 |
| 3 | 5,621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.00% | 99.58 | 99.58 | 11 |
| 4 | 5,500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | ▲ 0.04% | 99.45 | 99.40 | 10 |
| 5 | 5,080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | ▲ 0.10% | 99.98 | 99.89 | 18 |
| 6 | 4,750 | ZAYO (USD) TL L+300 3/9/2027 | ▲ 1.71% | 96.90 | 95.27 | 12 |
| 7 | 4,741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | ▼ -1.17% | 91.02 | 92.09 | 12 |
| 8 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.00% | 99.92 | 99.92 | 13 |
| 9 | 4,300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | ▲ 0.02% | 99.61 | 99.59 | 14 |
| 10 | 4,230 | TK ELEVATOR (US) NEWCO INC TL B | ▲ 0.17% | 100.25 | 100.08 | 15 |
| 11 | 4,226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | ▲ 0.14% | 100.00 | 99.86 | 14 |
| 12 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | ▲ 0.22% | 98.63 | 98.42 | 18 |
| 13 | 4,074 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | ▲ 0.18% | 100.04 | 99.86 | 13 |
| 14 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | ▲ 0.24% | 100.12 | 99.88 | 14 |
| 15 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | ▼ -0.02% | 99.95 | 99.98 | 16 |
| 16 | 3,914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | ▲ 0.16% | 99.86 | 99.70 | 18 |
| 17 | 3,900 | DIRECTV FNCG LLC (USD) TL L+500 8/2/2027 | ▼ -0.18% | 99.82 | 100.00 | 12 |
| 18 | 3,830 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | ▲ 0.22% | 99.54 | 99.32 | 19 |
| 19 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | ▲ 0.12% | 99.86 | 99.74 | 17 |
| 20 | 3,600 | GLOBAL MEDICAL RESPONSE INC (USD) TL S+350 9/10/2032 | ▲ 0.15% | 99.96 | 99.81 | 10 |
| Average | 4,531 | 0.09% | 98.38 | 83.30 | 14.3 |
Top 10 Performers
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | XELLA INTERNATIONAL GMBH (EUR) TL B E+475 4/1/2031 | ▲ 3.90% | 100.73 | 96.94 | 13 |
| 2 | VEONET (EUR) TL B E+475 4/8/2029 | ▲ 3.72% | 89.93 | 86.70 | 10 |
| 3 | INEOS FIN PLC (USD) TL B S+325 2/5/2030 | ▲ 3.02% | 88.26 | 85.67 | 7 |
| 4 | MAGNOLIA (USD) TL L+375 2/1/2028 | ▲ 2.64% | 85.64 | 83.44 | 15 |
| 5 | PATTERSON COS (USD) TL B S+450 4/24/2032 | ▲ 2.57% | 88.15 | 85.95 | 10 |
| 6 | CSC SERVICEWORKS INC (USD) TL L+400 3/4/2028 | ▲ 1.53% | 81.19 | 79.97 | 12 |
| 7 | THE NIELSEN COMPANY B.V. (USD) TL A S+475 10/11/2028 | ▲ 1.51% | 95.48 | 94.06 | 10 |
| 8 | WILSONART LLC (USD) TL B S+375 7/24/2031 | ▲ 1.49% | 94.65 | 93.26 | 11 |
| 9 | EPIQ SYSTEMS (USD) TL S+425 4/26/2029 | ▲ 1.38% | 84.60 | 83.45 | 7 |
| 10 | RACKSPACE FIN LLC (USD) TL B S+275 5/15/2028 | ▲ 1.23% | 42.39 | 41.87 | 13 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 10/17/25-10/24/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | DYE & DURHAM LTD (USD) TL B S+425 4/4/2031 | ▼ 7.84% | 88.24 | 95.75 | 5 |
| 2 | SITEL LLC / SITEL FIN CORP (USD) TL B L+375 8/28/2028 | ▼ 6.59% | 45.58 | 48.79 | 14 |
| 3 | HOUGHTON MIFFLIN (USD) TL B S+525 4/9/2029 | ▼ 5.18% | 80.39 | 84.78 | 8 |
| 4 | TRONOX INC (USD) TL B S+250 4/4/2029 | ▼ 4.12% | 80.47 | 83.93 | 18 |
| 5 | CARDENAS MARKETS (USD) TL B S+675 8/1/2029 | ▼ 2.52% | 78.73 | 80.76 | 13 |
| 6 | PRE-PAID LEGAL SERVICES (USD) TL B S+325 12/15/2028 | ▼ 2.12% | 90.84 | 92.81 | 10 |
| 7 | GENUINE FINANCIAL (USD) TL B S+325 9/21/2030 | ▼ 1.61% | 89.02 | 90.47 | 9 |
| 8 | XAI CORP (USD) TL B S+725 6/2/2030 | ▼ 1.34% | 97.14 | 98.46 | 8 |
| 9 | OMNI LOGISTICS (USD) TL B S+400 9/20/2030 | ▼ 1.29% | 96.28 | 97.53 | 14 |
| 10 | CRASH CHAMPIONS LLC (USD) TL B S+475 2/6/2029 | ▼ 1.22% | 90.87 | 91.99 | 14 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 10/17/25-10/24/25 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 10/17/25-10/24/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 10/17/25 vs. the week ending 10/24/25
| Rank | Tranche | Prior Week | This Week | Increase | % Increase |
| 1 | DELTA SKYMILES (USD) TL B S+150 10/20/2028 | 7 | 47 | 40 | ▲ 571% |
| 2 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 74 | 100 | 26 | ▲ 35% |
| 3 | NTL CABLE PLC (USD) TL Q L+325 1/31/2029 | 53 | 77 | 24 | ▲ 45% |
| 4 | TRANSUNION (USD) TL B S+175 6/24/2031 | 47 | 69 | 22 | ▲ 47% |
| 5 | DIRECTV FNCG LLC (USD) TL B S+550 2/15/2031 | 41 | 62 | 21 | ▲ 51% |
| 6 | LGC (USD) TL B S+400 1/11/2030 | 20 | 41 | 21 | ▲ 105% |
| 7 | NTL CABLE PLC (USD) TL Y S+325 3/1/2031 | 45 | 66 | 21 | ▲ 47% |
| 8 | TELENET FIN (LUX) NOTES SARL (USD) TL L+200 4/30/2028 | 74 | 94 | 20 | ▲ 27% |
| 9 | INMARSAT (USD) TL B L+350 12/11/2026 | 34 | 54 | 20 | ▲ 59% |
| 10 | UFC (USD) TL B S+225 11/21/2031 | 36 | 56 | 20 | ▲ 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 10/17/25-10/24/25
| Rank | Tranche | Dealers |
| 1 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 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 | INTL GAME TECH PLC (USD) TL B S+475 7/1/2032 | 19 |
| 5 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 19 |
| 6 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
| 7 | TRICORBRAUN (USD) TL B S+325 3/6/2031 | 18 |
| 8 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 18 |
| 9 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 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 10/17/25-10/24/25
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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.
