Syndicated Bank Loan Market Summary – Week Ending 11/28/25
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 11/28/25
| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Constellation Brands Inc. | 124 | Term Loan | 4/9/2026 | S+525 |
| Ascensus Inc | 2870 | Term Loan | 11/25/2032 | S+300 |
| Venbrook Buyer LLC | 600 | Term Loan | 3/13/2026 | S+650 |
| Container Store | 20 | Term Loan | 7/30/2029 | S+650 |
Forward Calendar
Forward calendar during the week ending 11/28/25
| Issuer | Deal Information | Banks | Expected Issue Date |
| Columbus McKinnon Corp. | $1.825B credit facilities | JPM | Q4 2025 |
| Hillenbrand Inc. | $2.635MM credit facilities | – | Q4 2025 |
| Hologic Inc. | $12.25B credit facilities | CITI, BofA, BCLY, RBC | Q4 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 11/21/25-11/28/25
| Rank | Size (MM) | Name | Change | PRC | PRC-1W | Dealers |
| 1 | 6272 | UKG INC (USD) TL S+250 2/9/2031 | 0.00% | 99.90 | 99.86310165 | 17 |
| 2 | 6145.2 | MAGNOLIA (USD) TL L+375 2/1/2028 | 0.01% | 87.78 | 87.30676976 | 14 |
| 3 | 5621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.00% | 100.14 | 100.1547459 | 11 |
| 4 | 5500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 0.00% | 99.63 | 99.65377475 | 18 |
| 5 | 5080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 0.00% | 100.38 | 100.3362735 | 17 |
| 6 | 4741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 0.01% | 90.28 | 89.59420982 | 12 |
| 7 | 4664.41 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.00% | 100.38 | 100.3607919 | 16 |
| 8 | 4654.83 | BELRON UK FIN PLC (USD) TL B S+250 10/16/2031 | 0.00% | 100.50 | 100.5558446 | 16 |
| 9 | 4300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.00% | 100.05 | 100.0846351 | 14 |
| 10 | 4230 | TK ELEVATOR (US) NEWCO INC TL B | 0.00% | 100.56 | 100.501852 | 14 |
| 11 | 4226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.00% | 99.97 | 99.90178642 | 13 |
| 12 | 4204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.00% | 99.00 | 98.93460681 | 15 |
| 13 | 4073.83 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | 0.00% | 100.13 | 100.1008221 | 11 |
| 14 | 4001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.00% | 100.35 | 100.3391348 | 14 |
| 15 | 3935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.00% | 100.41 | 100.3628594 | 15 |
| 16 | 3914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | 0.00% | 100.25 | 100.2100928 | 17 |
| 17 | 3900 | DIRECTV FNCG LLC (USD) TL L+500 8/2/2027 | 0.00% | 100.00 | 100 | 10 |
| 18 | 3830.35 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 0.00% | 100.00 | 99.91174863 | 18 |
| 19 | 3736.25 | UFC (USD) TL B5 S+200 11/21/2031 | 0.00% | 100.26 | 100.2821006 | 16 |
| 20 | 3640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.00% | 100.13 | 100.125 | 16 |
| Average | 4533.4435 | 0.08% | 99.00484342 | 100.4593635 | 14.7 |
Top 10 Performers
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | SITEL LLC / SITEL FIN CORP (USD) TL B L+375 8/28/2028 | ▲ 20.37% | 50.54 | 41.98 | 15 |
| 2 | TRONOX INC (USD) TL B S+250 9/18/2031 | ▲ 5.84% | 74.63 | 70.51 | 14 |
| 3 | MERLIN ENTERTAINMENTS (EUR) TL B E+375 11/9/2029 | ▲ 3.27% | 87.66 | 84.88 | 15 |
| 4 | CASINO GUICHARD (EUR) TL B 3/30/2027 | ▲ 3.14% | 67.18 | 65.14 | 11 |
| 5 | CRASH CHAMPIONS LLC (USD) TL B S+475 2/6/2029 | ▲ 2.76% | 95.08 | 92.52 | 15 |
| 6 | INEOS FIN PLC (EUR) TL B E+325 2/7/2031 | ▲ 2.72% | 84.35 | 82.12 | 10 |
| 7 | ELECTRONICS FOR IMAGING (USD) TL L+500 7/23/2026 | ▲ 1.62% | 70.19 | 69.07 | 10 |
| 8 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | ▲ 1.37% | 82.75 | 81.64 | 16 |
| 9 | BIOGROUP (EUR) TL B E+350 1/28/2028 | ▲ 1.29% | 95.82 | 94.60 | 13 |
| 10 | KODIAK (USD) TL B S+400 11/26/2031 | ▲ 1.19% | 96.44 | 95.31 | 12 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 11/21/25-11/28/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | CLUB CAR (USD) TL L+400 6/1/2028 | ▼ 4.42% | 89.26 | 93.39 | 10 |
| 2 | TECTUM HOLDINGS INC (USD) TL B S+500 1/31/2028 | ▼ 3.57% | 78.78 | 81.69 | 13 |
| 3 | CALDIC (EUR) TL B E+350 2/4/2029 | ▼ 3.40% | 90.87 | 94.06 | 8 |
| 4 | ENTERTAINMENT PARTNERS (USD) TL B S+450 11/6/2028 | ▼ 3.03% | 79.45 | 81.93 | 9 |
| 5 | AD EDUCATION (EUR) TL B E+400 10/22/2031 | ▼ 2.72% | 93.96 | 96.59 | 12 |
| 6 | ACCESS CIG (USD) TL B S+400 8/19/2030 | ▼ 2.08% | 97.04 | 99.10 | 8 |
| 7 | SYMPLR SOFTWARE (USD) TL B S+450 12/22/2027 | ▼ 1.73% | 83.53 | 85.00 | 11 |
| 8 | BELLIS ACQUISITION CO PLC (EUR) TL B E+425 5/2/2031 | ▼ 1.61% | 91.90 | 93.41 | 16 |
| 9 | APEX GROUP TRSY LLC (EUR) TL B E+375 2/19/2032 | ▼ 1.39% | 93.92 | 95.24 | 11 |
| 10 | ETRAVELI (EUR) TL B E+375 11/2/2031 | ▼ 1.17% | 98.55 | 99.72 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 11/21/25-11/28/25 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 11/21/25-11/28/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 11/21/25 vs. the week ending 11/28/25
| Rank | Tranche | Prior Week | This Week | Increase | % Increase |
| 1 | SPECIALTY BLDG PRODUCTS HLDGS LLC (USD) TL B L+375 10/15/2028 | 40 | 74 | 34 | ▲ 85% |
| 2 | BELRON UK FIN PLC (EUR) TL B E+300 10/16/2031 | 9 | 27 | 18 | ▲ 200% |
| 3 | VALEO FOODS (EUR) TL B5 E+400 9/29/2028 | 10 | 24 | 14 | ▲ 140% |
| 4 | CAB SAS (EUR) EXT TL B E+375 2/9/2028 | 17 | 30 | 13 | ▲ 76% |
| 5 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 64 | 76 | 12 | ▲ 19% |
| 6 | NTL CABLE PLC (EUR) TL B E+350 7/15/2029 | 40 | 50 | 10 | ▲ 25% |
| 7 | SUNRISE MEDICAL (EUR) TL B E+350 3/29/2025 | 2 | 12 | 10 | ▲ 500% |
| 8 | STYROLUTION (EUR) TL B E+200 2/28/2027 | 24 | 34 | 10 | ▲ 42% |
| 9 | S4 CAPITAL PLC (EUR) TL B E+375 8/9/2028 | 16 | 26 | 10 | ▲ 63% |
| 10 | CHARTER NEX (USD) TL B 12/1/2027 | 20 | 30 | 10 | ▲ 50% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 11/21/25-11/28/25
| Rank | Tranche | Dealers |
| 1 | GO DADDY OPERATING CO LLC (USD) TL B S+175 11/10/2029 | 19 |
| 2 | WHATABURGER (USD) TL B S+250 8/3/2028 | 19 |
| 3 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 4 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 18 |
| 5 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 18 |
| 6 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 18 |
| 7 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
| 8 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 18 |
| 9 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 18 |
| 10 | TRICORBRAUN (USD) TL B S+325 3/6/2031 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 11/21/25-11/28/25
Sector Bid-Offer Spread
Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Related Resources
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