Syndicated Bank Loan Market Summary – August 2026
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Syndicated Bank Loan Market Summary: August 2026
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a monthly period.
New Issues
Loans issued during the month ending 8/31/26
| Issuer | Amount (MM) | Loan Type | Maturity | Rate |
| Iron Horse Midstream LLC | – | Term Loan | 9/27/2029 | – |
| QTS Realty Trust Inc | – | Term Loan | 3/22/2027 | – |
| Hornbeck Offshore Services Inc. | 38 | Delayed-draw Term Loan | 6/22/2025 | S+750 |
| SonicWALL Inc. | 152 | Term Loan | 4/26/2030 | S+550 |
| CDK Global Inc. | – | Term Loan | 7/5/2029 | S+325 |
| BCPE Empire Holdings Inc | 875 | Term Loan | 7/23/2033 | S+275 |
| Redstone Holdco 2 LP | 165 | Revolving Credit | 9/30/2030 | S+475 |
| Urbaser SA | 1500 | Term Loan | 7/1/2032 | E+275 |
| HMN Acquirer Corp | 136 | Term Loan | 11/5/2031 | S+375 |
| Yellowstone Buyer Acquisition LLC | 148 | Term Loan | 11/14/2028 | – |
| Cotiviti Corp. | 600 | Revolving Credit | 5/1/2029 | S+325 |
| Almaviva | 80 | Term Loan | 4/1/2031 | E+425 |
| Medical Solutions | 549 | Term Loan | 11/1/2030 | S+350 |
| Invent Farma S L | 200 | Term Loan | 12/17/2030 | E+350 |
| Blackfin Pipeline LLC | – | Term Loan | 9/29/2032 | S+225 |
Largest Loans
Highlights the monthly price movements and quote depth for the 20 largest bank loans between 8/1/26 – 8/31/26
| Rank | Size (MM) | Name | Change | PRC | PRC-1M | Dealers |
| 1 | 7,250 | HOLOGIC INC (USD) TL S+225 4/7/2033 | 2.82% | 98.53 | 95.83 | 15 |
| 2 | 6,272 | UKG INC (USD) TL S+250 2/9/2031 | 6.91% | 97.09 | 90.82 | 18 |
| 3 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | -5.56% | 94.96 | 100.55 | 11 |
| 4 | 6,125 | ELECTRONIC ARTS INC (USD) TL B S+350 3/5/2033 | 1.70% | 100.99 | 99.30 | 12 |
| 5 | 5,621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | -0.09% | 99.93 | 100.03 | 14 |
| 6 | 5,572 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 7.84% | 100.23 | 92.95 | 18 |
| 7 | 5,500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | -3.67% | 96.57 | 100.25 | 19 |
| 8 | 5,080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 3.62% | 100.38 | 96.87 | 19 |
| 9 | 4,741 | INTERNET BRANDS (USD) TL B3 S+425 4/20/2028 | -1.06% | 98.81 | 99.88 | 15 |
| 10 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.58% | 99.73 | 99.15 | 11 |
| 11 | 4,589 | AMWINS GROUP INC (USD) TL B S+200 1/30/2032 | -0.12% | 98.98 | 99.09 | 18 |
| 12 | 4,511 | RADIATE HOLDCO LLC (USD) 1ST OUT TL S+500 9/25/2029 | -0.84% | 87.88 | 88.62 | 12 |
| 13 | 4,310 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 4.32% | 94.80 | 90.88 | 16 |
| 14 | 4,246 | BROADSTREET PARTNERS INC (USD) TL B S+250 6/16/2031 | 0.14% | 98.46 | 98.32 | 16 |
| 15 | 4,204 | JANE STREET GRP/JSG FIN (USD) TL B S+200 12/10/2031 | 0.27% | 99.87 | 99.60 | 18 |
| 16 | 4,184 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 0.21% | 100.00 | 99.79 | 11 |
| 17 | 4,125 | CULLIGAN (USD) TL B S+250 7/1/2033 | 0.34% | 100.34 | 100.00 | 17 |
| 18 | 4,084 | INSPIRE BRANDS (USD) TL S+250 12/15/2030 | 0.15% | 100.31 | 100.17 | 13 |
| 19 | 4,072 | PAREXEL INTERNATIONAL (USD) TL S+300 12/9/2031 | 0.25% | 100.44 | 100.18 | 10 |
| 20 | 4,000 | ZAYO (USD) TL S+350 3/11/2030 | 0.01% | 100.12 | 100.11 | 13 |
| AVERAGE | 4,965 | 0.89% | 98.42 | 97.62 | 14.8 |
Top 10 Outperformers
Showcases the top 10 loan “outperformers” based on the largest bid price increases between 8/1/26 – 8/31/26
| RANK | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|
| 1 | TROPICANA (USD) 2ND OUT TL S+1100 1/24/2029 | 25.82% | 70.05 | 55.68 | 16 |
| 2 | CAST & CREW (USD) TL B S+375 12/30/2028 | 16.83% | 39.72 | 33.99 | 8 |
| 3 | DOMTAR CORP (USD) TL B L+550 11/30/2028 | 15.23% | 80.12 | 69.53 | 6 |
| 4 | PERFORCE (USD) TL B S+475 7/1/2029 | 14.95% | 54.51 | 47.43 | 10 |
| 5 | ENTERTAINMENT PARTNERS (USD) TL B S+450 11/6/2028 | 12.06% | 68.98 | 61.55 | 8 |
| 6 | MAGNOLIA (USD) 2L TL S+775 2/1/2029 | 8.96% | 74.64 | 68.50 | 11 |
| 7 | VIRTUSA (USD) TL B S+325 2/15/2029 | 8.68% | 97.08 | 89.33 | 8 |
| 8 | EMBECTA (USD) TL B S+300 1/27/2029 | 8.60% | 84.63 | 77.93 | 14 |
| 9 | GI REVELATION (USD) TL B S+375 5/14/2028 | 7.32% | 93.56 | 87.18 | 13 |
| 10 | CLOUD SOFTWARE GROUP INC (USD) TL B S+325 8/13/2032 | 5.93% | 94.62 | 89.33 | 12 |
Top 10 Underperformers
Showcases the top 10 loan “underperformers” based on the largest bid price decreases between 8/1/26 – 8/31/26
| Rank | Name | Change | PRC | PRC-1M | Dealers |
| 1 | LANDESK (USD) 2ND OUT TL S+475 6/1/2029 | -25.93% | 32.66 | 44.10 | 10 |
| 2 | AD EDUCATION (EUR) TL B E+400 10/22/2031 | -16.63% | 47.19 | 56.60 | 12 |
| 3 | CONNECT HLDG II LLC (USD) PIK 2ND OUT TL S+575 10/31/2031 | -14.10% | 57.66 | 67.12 | 14 |
| 4 | ACRISURE LLC (USD) TL B S+325 6/5/2032 | -10.21% | 80.63 | 89.80 | 7 |
| 5 | OWENS & MINOR INC (USD) TL B S+375 3/29/2029 | -8.29% | 86.43 | 94.24 | 8 |
| 6 | NOVAE (USD) TL B S+500 12/22/2028 | -7.75% | 70.69 | 76.62 | 9 |
| 7 | SCIENTIFIC GAMES (USD) TL B S+300 4/4/2029 | -7.70% | 90.36 | 97.90 | 16 |
| 8 | QLIK TECHNOLOGIES (USD) TL B S+325 10/26/2030 | -7.03% | 71.97 | 77.42 | 14 |
| 9 | AMERICAN TRAILER WORLD (USD) TL L+375 3/3/2028 | -6.78% | 57.15 | 61.31 | 15 |
| 10 | BRIGHTSPEED TL | -6.17% | 85.64 | 91.27 | 11 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/1/26 – 8/31/26 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 8/1/26 – 8/31/26
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 7/31/26 vs. the month ending 8/31/26
| Rank | Tranche | Prior Month | This Month | Increase | % Increase |
| 1 | TROPICANA (USD) 2ND OUT TL S+1100 1/24/2029 | 20 | 166 | 146 | 730% |
| 2 | MAGNOLIA (USD) TL L+375 2/1/2028 | 18 | 141 | 123 | 683% |
| 3 | TECTA AMERICA (USD) TL B S+250 2/18/2032 | 52 | 153 | 101 | 194% |
| 4 | COREWEAVE INC (USD) DD TL S+225 3/31/2032 | 8 | 100 | 92 | 1150% |
| 5 | SONICWALL (USD) 2ND OUT TL1 S+500 4/26/2030 | 14 | 105 | 91 | 650% |
| 6 | CYRUSONE (USD) TL S+400 7/8/2033 | 58 | 146 | 88 | 152% |
| 7 | MAGNOLIA (USD) TL B 2/1/2028 | 14 | 88 | 74 | 529% |
| 8 | TRINSEO (USD) PIK TL B S+850 5/3/2028 | 20 | 90 | 70 | 350% |
| 9 | MATTERHORN TELECOM SA (EUR) TL B E+225 1/30/2032 | 18 | 87 | 69 | 383% |
| 10 | DELL SOFTWARE GROUP (USD) 3RD OUT TL S+425 2/1/2029 | 62 | 130 | 68 | 110% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/1/26 – 8/31/26
| Rank | Tranche | Dealers |
| 1 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 2 | ROCKET SOFTWARE INC (USD) TL B S+375 11/28/2028 | 19 |
| 3 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 19 |
| 4 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 19 |
| 5 | AMWINS GROUP INC (USD) TL B S+200 1/30/2032 | 18 |
| 6 | UKG INC (USD) TL S+250 2/9/2031 | 18 |
| 7 | BERLIN PACKAGING LLC (USD) TL B7 S+325 6/7/2031 | 18 |
| 8 | JANE STREET GRP/JSG FIN (USD) TL B S+200 12/10/2031 | 18 |
| 9 | MITER BRANDS (USD) TL B S+275 3/28/2031 | 17 |
| 10 | WHITE CAP BUYER LLC (USD) TL B S+375 2/5/2033 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/1/26 – 8/31/26
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/1/26 – 8/31/26 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
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