Syndicated Bank Loan Market Summary – Week Ending 2/20/26
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 2/20/26
html| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Fortna Inc. | 225 | Term Loan | 6/1/2029 | S+1450 |
| Inception Finco Sàrl | 100 | Term Loan | 4/18/2031 | S+325 |
| Corp. | 200 | Term Loan | 6/25/2030 | S+500 |
| Alpine US Bidco LLC | 1024 | Term Loan | 12/23/2030 | S+300 |
Forward Calendar
Forward calendar during the week ending 2/20/26
| Issuer | Description | Banks | Expected Issue Date |
| AMC Entertainment | $750MM TLB | WF,DB | Q1 2026 |
| Flow Control Group | $1.7B TLB | KKR,ING | Q1 2026 |
| Cornerstone Generation LLC | $1.349B TL | JEFF,ECP | Q1 2026 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 2/13/26-2/20/26
html| Rank | Size (MM) | Name | Change | PRC | PRC-1W | Dealers |
| 1 | 7250 | HOLOGIC INC (USD) TL S+225 1/14/2033 | 0.00 | 99.20 | 99.07424602 | 11 |
| 2 | 6272 | UKG INC (USD) TL S+250 2/9/2031 | -0.01 | 96.21 | 97.31216911 | 20 |
| 3 | 6145.2 | MAGNOLIA (USD) TL L+375 2/1/2028 | 0.00 | 89.41 | 89.54151302 | 13 |
| 4 | 5621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.00 | 98.46 | 98.28206376 | 12 |
| 5 | 5500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | -0.02 | 93.69 | 95.66859045 | 22 |
| 6 | 5080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 0.00 | 100.32 | 100.1519727 | 17 |
| 7 | 4741 | INTERNET BRANDS (USD) TL B3 S+425 4/20/2028 | -0.01 | 84.55 | 85.05399198 | 16 |
| 8 | 4664.41 | PROOFPOINT (USD) TL B S+300 8/31/2028 | -0.01 | 98.11 | 98.60163738 | 11 |
| 9 | 4588.655 | AMWINS GROUP INC (USD) TL B S+200 1/30/2032 | 0.00 | 99.43 | 99.06936616 | 19 |
| 10 | 4300 | MASMOVIL IBERCOM SA (EUR) TL B E+275 3/20/2031 | 0.00 | 100.01 | 99.94798246 | 14 |
| 11 | 4230 | TK ELEVATOR HOLDCO GMBH (USD) TL B S+325 4/11/2030 | 0.00 | 100.21 | 100.1849041 | 14 |
| 12 | 4204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.00 | 99.43 | 99.22470907 | 15 |
| 13 | 4084 | INSPIRE BRANDS (USD) TL S+250 12/15/2030 | 0.00 | 99.91 | 99.84237755 | 13 |
| 14 | 4001 | CITADEL SECS GLOBAL HEDGS LLC (USD) TL B S+200 10/28/2031 | 0.00 | 100.14 | 100.2221163 | 13 |
| 15 | 3935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.00 | 99.76 | 99.72010143 | 14 |
| 16 | 3830.35 | ALLIANT HEDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | 0.01 | 98.94 | 98.36328976 | 19 |
| 17 | 3736.25 | UFC (USD) TL B5 S+200 11/21/2031 | 0.00 | 100.15 | 100.0612547 | 15 |
| 18 | 3640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.00 | 100.06 | 100.0245449 | 17 |
| 19 | 3600 | GLOBAL MEDICAL RESPONSE INC (USD) TL S+350 9/10/2032 | 0.00 | 100.21 | 100.232897 | 15 |
| 20 | 3573 | CENTRAL PARENT LLC (USD) TL B S+325 7/6/2029 | -0.03 | 67.88 | 70.1726107 | 14 |
| AVERAGE | 4649.793 | -0.002926 | 96.30439 | 100.199634 | 15.2 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 2/13/26-2/20/26
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | INEOS STYROLUTION GROUP GMBH (EUR) TL B E+425 10/7/2031 | ▲ 2.82% | 75.88 | 73.80 | 14 |
| 2 | LIBERTY LATIN AMERICA (USD) TL B L+375 10/16/2028 | ▲ 1.91% | 69.77 | 68.46 | 8 |
| 3 | TEKNI-PLEX (USD) TL B6 S+375 9/17/2028 | ▲ 1.70% | 96.92 | 95.31 | 14 |
| 4 | CONNECT HLDG II LLC (USD) PIK SO 2ND OUT TL S+575 10/31/2031 | ▲ 1.68% | 72.56 | 71.36 | 7 |
| 5 | FIESTA PURCHASER INC (USD) TL B S+275 2/12/2031 | ▲ 1.62% | 97.18 | 95.63 | 12 |
| 6 | ST. GEORGE LOGISTICS (USD) TL B S+275 2/14/2029 | ▲ 1.33% | 95.34 | 94.09 | 8 |
| 7 | ACRISURE LLC (USD) TL B S+325 6/5/2032 | ▲ 1.28% | 98.12 | 96.88 | 6 |
| 8 | OWENS & MINOR INC (USD) TL B S+375 3/29/2029 | ▲ 1.24% | 90.05 | 88.94 | 7 |
| 9 | MCAFEE CORP (USD) TL B S+300 3/1/2029 | ▲ 1.00% | 88.92 | 88.03 | 8 |
| 10 | LABEYRIE (EUR) TL B E+500 7/31/2029 | ▲ 0.80% | 91.04 | 90.31 | 14 |
Bottom 10 Performers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 2/13/26-2/20/26
| Rank | Name | Change | PRC | PRC-1W | Dealers |
| 1 | SONICWALL (USD) TL B S+500 5/15/2028 | ▼ -28.70% | 34.40 | 48.24 | 14 |
| 2 | TEMPO ACQUISITION (USD) TL B S+200 8/31/2028 | ▼ -12.34% | 77.69 | 88.62 | 9 |
| 3 | INTERNET BRANDS (USD) 2L TL L+625 2/23/2029 | ▼ -5.66% | 71.60 | 75.89 | 13 |
| 4 | TEAM.BLUE (EUR) TL B E+350 9/30/2029 | ▼ -5.06% | 89.19 | 93.95 | 10 |
| 5 | GROUP.ONE (EUR) TL B E+325 3/24/2031 | ▼ -4.86% | 90.68 | 95.32 | 10 |
| 6 | QLIK TECHNOLOGIES (USD) TL B S+325 10/26/2030 | ▼ -3.42% | 84.19 | 87.17 | 13 |
| 7 | CENTRAL PARENT LLC (USD) TL B S+325 7/6/2029 | ▼ -3.27% | 67.88 | 70.17 | 14 |
| 8 | DEVOTEAM (EUR) TL B E+375 12/9/2030 | ▼ -2.82% | 89.14 | 91.72 | 12 |
| 9 | ETRAVELI (EUR) TL B E+375 11/2/2031 | ▼ -2.68% | 93.02 | 95.58 | 12 |
| 10 | SCUR-ALPHA 1503 GMBH (EUR) TL B E+450 7/29/2028 | ▼ -2.44% | 84.68 | 86.80 | 8 |
Avg Bid Price by Sector
Displays the average loan bid price by sector between 2/13/26-2/20/26. Results are based on 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 2/13/26-2/20/26
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 2/13/26 vs. the week ending 2/20/26
| Rank | Tranche | Prior Week | This Week | Increase | % Increase |
| 1 | CERBA HEALTHCARE (EUR) TL C E+400 | 8 | 36 | 28 | 350% |
| 2 | CERBA HEALTHCARE (EUR) TL D E+500 | 30 | 54 | 24 | 80% |
| 3 | CERBA HEALTHCARE (EUR) TL B E+375 | 22 | 44 | 22 | 100% |
| 4 | ACCUVANT (USD) TL S+525 7/31/2026 | 16 | 32 | 16 | 100% |
| 5 | WELD NORTH (USD) TL B S+350 12/15/ | 23 | 38 | 15 | 65% |
| 6 | SPENCER SPIRIT (USD) TL B S+425 7/1 | 2 | 16 | 14 | 700% |
| 7 | ENVESTNET (USD) TL B S+275 11/25/2 | 20 | 34 | 14 | 70% |
| 8 | VODAFONE GROUP PLC (EUR) TL B E+3 | 18 | 30 | 12 | 67% |
| 9 | FLINT GROUP (EUR) TL B E+425 2/28/2 | 16 | 26 | 10 | 63% |
| 10 | HOTELBEDS (EUR) TL B E+275 3/25/20 | 18 | 28 | 10 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 2/13/26-2/20/26
| Rank | Tranche | Dealers |
| 1 | DAYFORCE INC (USD) TL B S+300 10/7 | 22 |
| 2 | HUB INTL LTD (USD) TL B S+250 6/20/ | 21 |
| 3 | UKG INC (USD) TL S+250 2/9/2031 | 20 |
| 4 | AMWINS GROUP INC (USD) TL B S+200 | 19 |
| 5 | BMC SOFTWARE (USD) TL B S+325 7/3 | 19 |
| 6 | ALLIANT HLDGS INTERMEDIATE LLC (U | 19 |
| 7 | LBM ACQUISITION LLC (USD) TL B S+3 | 18 |
| 8 | WHITE CAP BUYER LLC (USD) TL B S+3 | 18 |
| 9 | TRANSDIGM INC (USD) TL L S+250 1/3 | 18 |
| 10 | MAVIS TIRE EXPRESS SERVS TOPCO C | 18 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 2/13/26-2/20/26
Sector Bid-Offer Spread
Results are based on select industry sectors, however, we offer data across 36 sectors
Related Resources
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