Syndicated Bank Loan Market Summary – Week Ending 12/12/25
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 12/12/25
| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Potters Industries Inc. | 625 | Term Loan | 12/9/2032 | S+250 |
| National Mentor Inc. | 875 | Term Loan | 12/5/2030 | S+550 |
| Help/Systems LLC | 661 | Term Loan | 5/21/2029 | S+650 |
Forward Calendar
Forward calendar during the week ending 12/12/25
| Issuer | Banks | Expected Issue Date |
| Autokiniton US Holdings | CITI | Q4 2025 |
| Bending Spoons | JPM, BNP, GS | Q4 2025 |
| IMC Global | JPM | Q4 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/5/25-12/12/25
| Rank | Size (MM) | Name | Change | PRC | PRC-1W | Dealers |
| 1 | 6272 | UKG INC (USD) TL S+250 2/9/2031 | 0.00% | 100.12 | 100.0439534 | 19 |
| 2 | 6145.2 | MAGNOLIA (USD) TL L+375 2/1/2028 | -0.01% | 91.50 | 92.60771854 | 13 |
| 3 | 5621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.00% | 100.25 | 100.2007177 | 13 |
| 4 | 5500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 0.00% | 99.82 | 99.88245795 | 22 |
| 5 | 5080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 0.00% | 100.50 | 100.4611128 | 18 |
| 6 | 4741 | INTERNET BRANDS (USD) TL B S+425 4/20/2028 | 0.00% | 93.71 | 94.026284 | 12 |
| 7 | 4664.41 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.00% | 100.51 | 100.4236645 | 15 |
| 8 | 4654.83 | BELRON UK FIN PLC (USD) TL B S+250 10/16/2031 | 0.00% | 100.50 | 100.536557 | 17 |
| 9 | 4300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.00% | 100.24 | 100.0728936 | 14 |
| 10 | 4230 | TK ELEVATOR (US) NEWCO INC TL B | 0.00% | 100.64 | 100.6207771 | 16 |
| 11 | 4226 | INSPIRE BRANDS (USD) TL B S+250 12/15/2027 | 0.00% | 100.07 | 99.96507028 | 11 |
| 12 | 4204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.00% | 99.41 | 99.20834428 | 16 |
| 13 | 4084 | INSPIRE BRANDS (USD) TL S+250 12/15/2030 | 0.00% | 100.17 | 100.0163167 | 12 |
| 14 | 4073.83 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | 0.00% | 100.00 | 100.1253295 | 10 |
| 15 | 4001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.00% | 100.48 | 100.3833034 | 15 |
| 16 | 3935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.00% | 100.54 | 100.5 | 13 |
| 17 | 3914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | 0.00% | 100.35 | 100.3836063 | 17 |
| 18 | 3830.35 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 0.00% | 100.18 | 100.0715968 | 18 |
| 19 | 3736.25 | UFC (USD) TL B5 S+200 11/21/2031 | 0.00% | 100.40 | 100.3656211 | 16 |
| 20 | 3640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.00% | 100.32 | 100.2042225 | 15 |
| Average | 4542.6435 | -0.00% | 99.48509029 | 100.586472 | 15.1 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/5/25-12/12/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | TWIN RIVER (USD) TL B L+325 10/2/2028 | ▲ 5.72% | 98.53 | 93.20 | 13 |
| 2 | LESLIE’S POOLMART (USD) TL B L+275 3/9/2028 | ▲ 4.45% | 43.42 | 41.57 | 13 |
| 3 | HOUGHTON MIFFLIN (USD) TL B S+525 4/9/2029 | ▲ 3.01% | 87.51 | 84.96 | 12 |
| 4 | CARDENAS MARKETS (USD) TL B S+675 8/1/2029 | ▲ 2.92% | 75.34 | 73.20 | 15 |
| 5 | OSMOSE (USD) TL L+325 6/23/2028 | ▲ 2.50% | 98.12 | 95.73 | 7 |
| 6 | ASURION (USD) 2L TL B4 L+525 1/20/2029 | ▲ 2.18% | 98.14 | 96.05 | 10 |
| 7 | LABEYRIE (EUR) TL B E+500 7/31/2029 | ▲ 1.90% | 92.15 | 90.43 | 14 |
| 8 | KINDERCARE LEARNING CENTER TL B | ▲ 1.86% | 96.54 | 94.77 | 10 |
| 9 | JELD-WEN (USD) TL B S+200 7/28/2028 | ▲ 1.82% | 85.78 | 84.25 | 10 |
| 10 | RED VENTURES (USD) TL B S+275 3/3/2030 | ▲ 1.58% | 96.00 | 94.51 | 11 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/5/25-12/12/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | CAST & CREW (USD) TL B S+375 12/30/2028 | ▼ 8.95% | 58.65 | 64.42 | 7 |
| 2 | MONEYGRAM INTL INC (USD) TL B S+475 6/1/2030 | ▼ 8.08% | 64.91 | 70.61 | 11 |
| 3 | RACKSPACE TECH GLOBAL INC (USD) 2ND OUT TL B S+275 5/15/2028 | ▼ 7.17% | 36.70 | 39.53 | 13 |
| 4 | AVATAR PURCHASER (USD) TL B S+300 8/28/2030 | ▼ 5.21% | 87.66 | 92.48 | 8 |
| 5 | ALPHIA INC (USD) TL B S+500 9/28/2030 | ▼ 3.87% | 80.91 | 84.17 | 10 |
| 6 | OSCAR ACQUISITIONCO LLC (USD) TL B S+425 4/29/2029 | ▼ 3.60% | 71.73 | 74.41 | 13 |
| 7 | SPECIALTY BLDG PRODUCTS HLDGS LLC (USD) TL B L+375 10/15/2028 | ▼ 2.63% | 94.44 | 96.99 | 15 |
| 8 | VET INTERMEDIATE (USD) TL B S+500 9/19/2029 | ▼ 2.13% | 83.28 | 85.09 | 10 |
| 9 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | ▼ 2.06% | 84.59 | 86.37 | 15 |
| 10 | HEXION INC (USD) TL B S+400 3/15/2029 | ▼ 1.99% | 95.97 | 97.91 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/5/25-12/12/25 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 12/5/25-12/12/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/5/25 vs. the week ending 12/12/25
| Rank | Tranche | Prior Week | This Week | Increase | % Increase |
| 1 | QXO INC (USD) TL B S+200 4/30/2032 | 34 | 56 | 22 | ▲ 65% |
| 2 | CALPINE CORP (USD) TL B S+175 2/5/2032 | 46 | 66 | 20 | ▲ 43% |
| 3 | HERTZ CORP (USD) TL B S+375 6/30/2028 | 25 | 42 | 17 | ▲ 68% |
| 4 | MHS HOLDINGS (USD) TL B S+550 6/12/2029 | 10 | 26 | 16 | ▲ 160% |
| 5 | HUWS GRAY (EUR) DD TL B E+400 11/1/2028 | 12 | 28 | 16 | ▲ 133% |
| 6 | INTERNET BRANDS (USD) TL B4 S+425 12/11/2031 | 40 | 56 | 16 | ▲ 40% |
| 7 | XPO INC (USD) TL S+175 5/10/2028 | 54 | 70 | 16 | ▲ 30% |
| 8 | LENDINGTREE (USD) TL S+450 8/15/2030 | 23 | 39 | 16 | ▲ 70% |
| 9 | ARETEC ESCROW ISSUER 2 INC (USD) TL B S+300 8/9/2030 | 40 | 56 | 16 | ▲ 40% |
| 10 | NUVEI (USD) TL S+275 11/17/2031 | 50 | 64 | 14 | ▲ 28% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/5/25-12/12/25
| Rank | Tranche | Dealers |
| 1 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 22 |
| 2 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 21 |
| 3 | APPLIED SYSTEMS (USD) TL B S+225 2/23/2031 | 21 |
| 4 | UKG INC (USD) TL S+250 2/9/2031 | 20 |
| 5 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 20 |
| 6 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 19 |
| 7 | EMRLD BORROWER LP (USD) TL B S+225 5/31/2030 | 19 |
| 8 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 19 |
| 9 | WHATABURGER (USD) TL B S+250 8/3/2028 | 19 |
| 10 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 19 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/5/25-12/12/25
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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