Syndicated Bank Loan Market Summary – Week Ending 12/26/25
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 12/26/25
| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Anticimex Intl. | 600 | Term Loan | 11/30/31 | – |
| Orpea | 2,200 | Term Loan | 11/12/31 | E+274 |
| American Bath | 140 | Term Loan | 11/23/27 | – |
Forward Calendar
Forward calendar during the week ending 12/26/25
| Issuer | Banks | Expected Issue Date |
| Denny’s Corp | – | Q1 2025 |
| Hologic | CITI, BofA, BCLY | Q1 2025 |
| JAMF | – | Q1 2025 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 12/19/25-12/26/25
| Rank | Size (MM) | Name | Change | PRC | PRC-1W | Dealers |
| 1 | 6272 | UKG INC (USD) TL S+250 2/9/2031 | 0.00% | 100.08 | 100.0427324 | 19 |
| 2 | 6145.2 | MAGNOLIA (USD) TL L+375 2/1/2028 | 0.01% | 92.75 | 91.81970649 | 12 |
| 3 | 5621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.00% | 100.32 | 100.2794765 | 12 |
| 4 | 5500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 0.00% | 99.63 | 99.68631743 | 20 |
| 5 | 5080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 0.00% | 100.42 | 100.428334 | 18 |
| 6 | 4741 | INTERNET BRANDS (USD) TL B3 S+425 4/20/2028 | 0.00% | 92.74 | 92.8035426 | 13 |
| 7 | 4664.41 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.00% | 100.39 | 100.4052778 | 15 |
| 8 | 4300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.00% | 100.02 | 100.0577163 | 14 |
| 9 | 4230 | TK ELEVATOR (US) NEWCO INC TL B | 0.00% | 100.62 | 100.5940848 | 16 |
| 10 | 4204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.00% | 99.46 | 99.4579236 | 16 |
| 11 | 4084 | INSPIRE BRANDS (USD) TL S+250 12/15/2030 | 0.00% | 100.22 | 100.1910446 | 14 |
| 12 | 4073.83 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | 0.00% | 100.26 | 100.1573311 | 10 |
| 13 | 4001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.00% | 100.50 | 100.5330584 | 15 |
| 14 | 3935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.00% | 100.53 | 100.513412 | 12 |
| 15 | 3914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | 0.00% | 100.29 | 100.2789279 | 17 |
| 16 | 3830.35 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 0.00% | 100.20 | 100.2400078 | 18 |
| 17 | 3736.25 | UFC (USD) TL B5 S+200 11/21/2031 | 0.00% | 100.38 | 100.3720175 | 15 |
| 18 | 3640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.00% | 100.33 | 100.3068718 | 15 |
| 19 | 3600 | GLOBAL MEDICAL RESPONSE INC (USD) TL S+350 9/10/2032 | 0.00% | 100.35 | 100.6247292 | 14 |
| 20 | 3573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | 0.00% | 84.45 | 84.18018143 | 13 |
| Average | 4457.252 | 0.0005415% | 98.696327 | 100.2774395 | 14.9 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 12/19/25-12/26/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | MONEYGRAM INTL INC (USD) TL B S+475 6/1/2030 | ▲ 4.99% | 65.33 | 62.22 | 8 |
| 2 | NEP EUROPE FINCO (USD) TL B S+450 10/7/2031 | ▲ 2.59% | 91.51 | 89.21 | 8 |
| 3 | ALTICE FNCG SA (EUR) TL B E+500 10/2/2027 | ▲ 1.60% | 72.21 | 71.08 | 10 |
| 4 | CLOUDERA (USD) TL B L+375 10/8/2028 | ▲ 1.42% | 95.35 | 94.02 | 5 |
| 5 | HERTZ CORP (USD) TL B S+375 6/30/2028 | ▲ 1.03% | 83.59 | 82.74 | 10 |
| 6 | MAGNOLIA (USD) TL L+375 2/1/2028 | ▲ 1.01% | 92.75 | 91.82 | 10 |
| 7 | TRIPADVISOR INC (USD) TL B S+275 7/1/2031 | ▲ 0.95% | 96.04 | 95.14 | 6 |
| 8 | LESLIE’S POOLMART (USD) TL B L+275 3/9/2028 | ▲ 0.87% | 44.76 | 44.38 | 13 |
| 9 | TRAVEL CORP (USD) TL B S+475 12/16/2031 | ▲ 0.80% | 97.39 | 96.61 | 3 |
| 10 | CLUB CAR (USD) TL L+400 6/1/2028 | ▲ 0.53% | 90.60 | 90.12 | 8 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 12/19/25-12/26/25
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | TRICO PRODUCTS (USD) DIP TL A S+155 6/29/2026 | ▼ 10.97% | 22.41 | 25.17 | 12 |
| 2 | BARRACUDA (USD) TL S+450 5/17/2029 | ▼ 3.94% | 81.24 | 84.58 | 12 |
| 3 | STYROLUTION (EUR) TL B E+425 10/7/2031 | ▼ 3.49% | 68.96 | 71.45 | 13 |
| 4 | EKATERRA (GBP) TL B SN+562.5 7/30/2029 | ▼ 1.71% | 71.69 | 72.94 | 11 |
| 5 | TECTUM HOLDINGS INC (USD) TL B S+500 1/31/2028 | ▼ 1.42% | 76.84 | 77.95 | 16 |
| 6 | HOUGHTON MIFFLIN (USD) TL B S+525 4/9/2029 | ▼ 1.17% | 87.09 | 88.12 | 10 |
| 7 | TRICORBRAUN (USD) TL B S+325 3/6/2031 | ▼ 1.15% | 96.60 | 97.72 | 17 |
| 8 | PLY GEM (USD) TL C S+475 5/2/2031 | ▼ 0.86% | 70.72 | 71.34 | 6 |
| 9 | CRASH CHAMPIONS LLC (USD) TL B S+475 2/6/2029 | ▼ 0.85% | 94.35 | 95.16 | 15 |
| 10 | LABEYRIE (EUR) TL B E+500 7/31/2029 | ▼ 0.45% | 92.08 | 92.50 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 12/19/25-12/26/25 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 12/19/25-12/26/25
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 12/19/25 vs. the week ending 12/26/25
| Rank | Tranche | Prior Week | This Week | Increase | % Increase |
| 1 | MCDERMOTT (USD) TL B L+300 6/28/2024 | 4 | 14 | 10 | ▲ 250% |
| 2 | ATKINS (USD) TL B S+225 3/17/2030 | 18 | 28 | 10 | ▲ 56% |
| 3 | NORDIC AVIATION CAPITAL (USD) TL 6/30/2026 | 0 | 8 | 8 | NA |
| 4 | OMNI LOGISTICS (USD) DD TL S+500 12/30/2026 | 0 | 8 | 8 | NA |
| 5 | FORESIGHT ENERGY (USD) TL S+800 6/30/2027 | 0 | 8 | 8 | NA |
| 6 | HIGHPEAK ENERGY (USD) TL S+750 9/30/2026 | 0 | 8 | 8 | NA |
| 7 | FOUNDATION BUILDING (USD) TL B2 S+400 1/24/2031 | 2 | 8 | 6 | ▲ 300% |
| 8 | HILDING ANDERS (EUR) TL B E+500 2/28/2026 | 0 | 6 | 6 | NA |
| 9 | TEAM PUBL CHOICES LLC (USD) TL S+500 12/20/2027 | 2 | 8 | 6 | ▲ 300% |
| 10 | FOUNDATION BUILDING (USD) TL B1 L+325 1/31/2028 | 2 | 8 | 6 | ▲ 300% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 12/19/25-12/26/25
| Rank | Tranche | Dealers |
| 1 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 20 |
| 2 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 20 |
| 3 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 20 |
| 4 | WHATABURGER (USD) TL B S+250 8/3/2028 | 19 |
| 5 | UKG INC (USD) TL S+250 2/9/2031 | 19 |
| 6 | EMRLD BORROWER LP (USD) TL B S+225 5/31/2030 | 19 |
| 7 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 18 |
| 8 | CULLIGAN (USD) TL B S+325 7/30/2028 | 18 |
| 9 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 18 |
| 10 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 12/19/25-12/26/25
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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