Syndicated Bank Loan Market Summary – June 2024
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary:June 2024
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 6/30/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Mermaid Bidco Inc. | 340 | Term Loan | 6/21/2031 | E+375 |
| Mermaid Bidco Inc. | 665 | Term Loan | 6/20/2031 | S+325 |
| Aegion Corp | 882 | Term Loan | 5/18/2028 | S+375 |
| Opry Entertainment Group (OEG Borrower LLC) | 300 | Term Loan | 6/17/2031 | S+350 |
| Solarwinds Inc. | 1236 | Term Loan | 2/1/2030 | S+275 |
| Dealer Tire LLC | 1487 | Term Loan | 6/17/2031 | S+350 |
| Carroll County Energy LLC | 425 | Term Loan | 6/11/2031 | S+400 |
| Thor Industries Inc. | 304 | Term Loan | 11/8/2030 | E+225 |
| Soliant Hldgs LLC | 1290 | Term Loan | 6/23/2031 | S+300 |
| Frontier Communications Corp. | 1025 | Term Loan | 6/13/2031 | S+350 |
| DRW Hldg, LLC | 891 | Term Loan | 6/17/2031 | S+350 |
| Action Nederland BV | 700 | Term Loan | 6/23/2031 | E+325 |
| Monotype Imaging Inc. | 1200 | Term Loan | 2/28/2031 | S+500 |
| Jazz Pharmaceuticals Inc. | 2707 | Term Loan | 5/8/2028 | S+225 |
| BCP V Modular Services Finance PLC | 1800 | Term Loan | 12/21/2028 | E+425 |
| Apleona | 625 | Term Loan | 4/29/2028 | S+400 |
| Apleona | 835 | Term Loan | 4/1/2028 | E+375 |
| Signature Aviation US Hldg Inc. | 1663 | Term Loan | 7/1/2031 | S+250 |
| Emerson Electric Co. | 1400 | Term Loan | 6/13/2031 | S+225 |
| Ardonagh Midco 3 PLC | 400 | Term Loan | 2/1/2031 | E+425 |
| MFG / MRH | 1170 | Term Loan | 6/1/2028 | SN+400 |
| MFG / MRH | 732 | Term Loan | 6/1/2028 | SN+550 |
| North American Bancard LLC | 1051 | Term Loan | 11/1/2028 | S+275 |
| Austin Bidco Inc. | 1239 | Term Loan | 2/15/2029 | S+325 |
| Goodyear Tire & Rubber Co. | 800 | Term Loan | 1/14/2028 | S+150 |
| Tele Columbus AG & Co. KG | 707 | Term Loan | 10/6/2028 | |
| Virtu Financial LLC | 1245 | Term Loan | 6/13/2031 | S+275 |
| St. George’s University Scholastic Services LLC | 1026 | Term Loan | 2/1/2029 | S+275 |
| Onedigital Borrower LLC | 2065 | Term Loan | 6/5/2031 | S+325 |
| Onedigital Borrower LLC | 375 | Term Loan | 6/5/2032 | S+525 |
| Oldcastle Building Envelope | 1660 | Term Loan | 4/29/2029 | S+425 |
| Marlink Group | 300 | Term Loan | 6/2/2029 | E+425 |
| Marlink Group | 597 | Term Loan | 6/1/2029 | S+425 |
| GreenWaste Recovery Inc | 391 | Term Loan | 12/12/2028 | S+300 |
| EAB Global Inc. | 120 | Term Loan | 5/2/2028 | S+325 |
| EAB Global Inc. | 877 | Term Loan | 5/1/2028 | S+325 |
| Action Nederland BV | 1350 | Term Loan | 6/13/2031 | S+300 |
| Action Nederland BV | 400 | Term Loan | 6/14/2031 | E+325 |
| Scientific Games Intl. Inc. | 2160 | Term Loan | 6/12/2029 | S+225 |
| Chart Industries Inc. | 1631 | Term Loan | 3/17/2030 | S+250 |
| Authentic Brands Group LLC | 3333 | Term Loan | 12/21/2028 | S+275 |
| Authentic Brands Group LLC | 600 | Term Loan | 12/22/2028 | S+275 |
| TransUnion LLC | 1500 | Term Loan | 5/30/2031 | S+175 |
| Sally Beauty Holdings Inc. | 396 | Term Loan | 2/28/2030 | S+175 |
| Clarios Global LP | 2743 | Term Loan | 5/1/2030 | S+250 |
| Acrisure LLC | 1350 | Term Loan | 2/2/2027 | S+300 |
| WhiteWater Whistler Holdings LLC | 484 | Term Loan | 2/16/2030 | S+225 |
| Cushman & Wakefield Inc. | 993 | Term Loan | 1/2/2030 | S+300 |
Largest Loans
Highlights the monthly price movements and quote depth for the 20 largest bank loans between 6/1/24 – 6/30/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | 0.42% | 100.65 | 100.23 | 15 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | 0.24% | 100.71 | 100.47 | 14 |
| 3 | 4,860 | HUB INTL LTD TL B | 0.14% | 100.63 | 100.48 | 16 |
| 4 | 4,750 | ZAYO TL | -0.23% | 86.52 | 86.72 | 16 |
| 5 | 4,741 | INTERNET BRANDS TL B | 0.53% | 100.12 | 99.59 | 13 |
| 6 | 4,525 | TRANSDIGM INC. TL I | -0.08% | 100.40 | 100.48 | 19 |
| 7 | 4,050 | CITRIX TL B | 0.24% | 100.21 | 99.97 | 14 |
| 8 | 3,900 | DIRECTV TL | -0.26% | 100.20 | 100.46 | 18 |
| 9 | 3,580 | CDK GLOBAL TL B | 0.45% | 100.83 | 100.38 | 15 |
| 10 | 3,564 | MKS INSTRUMENTS TL B | 0.35% | 100.43 | 100.08 | 13 |
| 11 | 3,500 | SEDGWICK TL B | 0.10% | 100.47 | 100.37 | 11 |
| 12 | 3,500 | WESTINGHOUSE TL B | 0.42% | 100.46 | 100.05 | 15 |
| 13 | 3,500 | AMERICAN AIRLINES TL B | -0.20% | 103.74 | 103.95 | 14 |
| 14 | 3,420 | RCN GRANDE TL | -1.76% | 78.66 | 80.08 | 13 |
| 15 | 3,380 | SOLERA TL B | 0.79% | 100.03 | 99.24 | 16 |
| 16 | 3,350 | THE NIELSEN COMPANY B.V. TL B | 2.06% | 95.88 | 93.94 | 11 |
| 17 | 3,300 | NTL CABLE PLC TL N | -0.88% | 97.21 | 98.07 | 13 |
| 18 | 3,242 | GOLDEN NUGGET INC TL B | 0.07% | 100.24 | 100.18 | 12 |
| 19 | 3,200 | COMMSCOPE TL B2 | 1.19% | 88.71 | 87.67 | 10 |
| 20 | 3,175 | MAGENTA BUYER LLC TL | 19.48% | 59.98 | 50.20 | 10 |
| AVERAGE | 3,953 | 1.15% | 95.80 | 95.13 | 13.9 |
Top 10 Outperformers
Showcases the top 10 loan “outperformers” based on the largest bid price increases between 6/1/24 – 6/30/24
| RANK | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|
| 1 | RSA SECURITY LLC 2ND LIEN TL | 41.16% | 78.91 | 55.90 | 8 |
| 2 | TELE COLUMBUS EUR TL | 8.73% | 69.26 | 63.69 | 9 |
| 3 | EOS US FINCO LLC EUR TL B | 6.40% | 80.17 | 75.34 | 9 |
| 4 | DELL SOFTWARE GROUP 2ND LIEN TL | 5.39% | 49.02 | 46.52 | 9 |
| 5 | AMC ENTERTAINMENT TL B1 | 5.37% | 94.62 | 89.80 | 15 |
| 6 | CABLEVISION TL B5 | 5.16% | 82.93 | 78.86 | 13 |
| 7 | AVAYA EXIT PIK TL | 4.65% | 86.11 | 82.29 | 8 |
| 8 | HEARTHSIDE FOODS TL B2 | 4.42% | 72.84 | 69.76 | 9 |
| 9 | EMPIRE TODAY TL | 4.29% | 75.20 | 72.11 | 12 |
| 10 | KLOECKNER EUR TL B | 3.66% | 89.28 | 86.12 | 16 |
Top 10 Underperformers
Showcases the top 10 loan “underperformers” based on the largest bid price decreases between 6/1/24 – 6/30/24
| RANK | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|
| 1 | NUTRISYSTEM TL B | -26.42% | 62.23 | 84.58 | 10 |
| 2 | LANDESK 2ND LIEN TL | -17.67% | 65.80 | 79.92 | 9 |
| 3 | CBS RADIO INC TL B | -12.06% | 47.00 | 53.45 | 8 |
| 4 | ALLEN MEDIA TL B | -11.63% | 73.84 | 83.56 | 6 |
| 5 | PACKERS HOLDINGS TL | -9.69% | 53.29 | 59.01 | 7 |
| 6 | MEDICAL SOLUTIONS TL | -8.28% | 74.61 | 81.34 | 10 |
| 7 | LASERSHIP 2ND LIEN TL | -7.82% | 71.28 | 77.33 | 7 |
| 8 | CORRECT CARE TL B | -7.43% | 62.82 | 67.86 | 9 |
| 9 | VERIZON TL B2 | -7.34% | 87.00 | 93.89 | 7 |
| 10 | CISION TL B | -6.87% | 61.30 | 65.83 | 10 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/1/24 – 6/30/24 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 6/1/24 – 6/30/24
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 5/31/23 vs. the month ending 6/30/24
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | PROOFPOINT TL B | 52 | 273 | 221 | 425% |
| 2 | AUTHENTIC BRANDS TL B1 | 17 | 226 | 209 | 1229% |
| 3 | BUCKEYE TL B2 | 84 | 290 | 206 | 245% |
| 4 | TRONOX PIGMENTS TL B | 124 | 270 | 146 | 118% |
| 5 | ION TRADING TL B | 2 | 148 | 146 | 7300% |
| 6 | CDK GLOBAL TL B | 184 | 322 | 138 | 75% |
| 7 | RCS CAPITAL TL B | 98 | 234 | 136 | 139% |
| 8 | AKZONOBEL EUR TL B | 4 | 126 | 122 | 3050% |
| 9 | MEDIWARE TL | 46 | 155 | 109 | 237% |
| 10 | QLIK TECHNOLOGIES TL B | 240 | 348 | 108 | 45% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/1/24 – 6/30/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | VERIFONE TL B | 18 |
| 2 | TENNECO TL B | 18 |
| 3 | TRANSDIGM INC. TL K | 18 |
| 4 | BMC SOFTWARE TL B | 17 |
| 5 | HUB INTL LTD TL B | 17 |
| 6 | HILEX POLY TL B | 17 |
| 7 | BERRY PLASTICS TL | 17 |
| 8 | TRANSDIGM INC. TL I | 17 |
| 9 | DAVITA TL B | 17 |
| 10 | FRONERI TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/1/24 – 6/30/24
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 6/1/24 – 6/30/24 Results are based on 5 select industry sectors, however, we offer data across 36 sectors
Stay up-to-date with weekly summaries.
Related Resources
About SOLVE
SOLVE is the leading market data platform provider for fixed-income securities, trusted by sophisticated buy-side and sell-side firms worldwide. Founded in 2011, SOLVE leverages its AI-driven technology and deep industry expertise to offer unparalleled transparency into markets, reduce risk, and save hundreds of hours across front-office workflows. With the largest real-time datasets for Securitized Products, Municipal Bonds, Corporate Bonds, Syndicated Bank Loans, Convertible Bonds, CDS, and Private Credit, SOLVE empowers clients to transform the way they bring new securities to market, trade on secondary markets, and value highly illiquid securities. Headquartered in Connecticut, with offices across the globe, SOLVE is the definitive source for market pricing in fixed-income markets.
