Syndicated Bank Loan Market Summary – Week Ending 10/7/22
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 10/7/22
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
Forward Calendar
List of upcoming syndicated loan being marketed in the United States as of 10/7/22
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
|---|---|---|---|
| Bettcher Industries | $200MM TL (B-) | UBS,KKR,JEFF | Q4 2022 |
| Latam Airlines | $750MM TLB (B2) | GS, JPM, BCLY, BNP, NTXS | Q4 2022 |
| Maxlinear Inc. | $3.5B credit facilities: $250MM RC; $512.5MM TLA; $2.7375 TLB | WF, BMO, CTZ, TRS | Q4 2022 |
| Moneygram International Inc. | $850MM credit facilities: $150MM RC; $700MM TL | GS, DB, BCLY, WF | Q4 2022 |
| Nielsen Holdings PLC | $9.15B credit facilities: $650MM RC; $6.35MM TL; $2.15B TL | Q4 2022 | |
| Open Text Corp. | $2.585 DD TL | BCLY, BMO, RBC, CITI | Q4 2022 |
| Ripic Holdings | $2.25B credit facilities: $300MM RC; $1.95 TLs | UBS, RBC, BNP, BMO, MIZ, NTXS | Q4 2022 |
| Tegna Inc. | $4B credit facilities: $500MM RC; $3.5B TL | RBC, BofA, GS, TRS, BNP, CS, JEFF, MIZ, TD, BCLY, DB, MUFG, CTB, SMBC | Q4 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 9/30/22 – 10/7/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,100 | CHANGE HEALTHCARE TL B | -0.09% | 99.63 | 99.72 | 10 |
| 2 | 5,000 | UNITED CONTINENTAL TL B | 1.23% | 96.46 | 95.29 | 12 |
| 3 | 4,750 | ZAYO TL | -0.36% | 83.04 | 83.35 | 11 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | 1.21% | 98.69 | 97.51 | 12 |
| 5 | 4,050 | CITRIX TL B | 0.81% | 90.26 | 89.53 | 11 |
| 6 | 3,900 | DIRECTV TL | 0.86% | 93.75 | 92.96 | 14 |
| 7 | 3,600 | CDK GLOBAL TL | 1.06% | 97.11 | 96.09 | 13 |
| 8 | 3,582 | MISYS TL B | 0.59% | 87.57 | 87.05 | 14 |
| 9 | 3,524 | TRANSDIGM INC. TL F | 0.97% | 96.71 | 95.78 | 13 |
| 10 | 3,450 | GOLDEN NUGGET INC TL B | 0.36% | 92.88 | 92.54 | 11 |
| 11 | 3,400 | REFRESCO HOLDING EUR TL B | -0.10% | 93.71 | 93.80 | 14 |
| 12 | 3,380 | SOLERA TL B | 0.52% | 92.62 | 92.14 | 14 |
| 13 | 3,325 | CINEWORLD TL B | -7.35% | 38.73 | 41.80 | 14 |
| 14 | 3,312 | HUB INTL LTD TL B | 1.49% | 97.42 | 95.99 | 12 |
| 15 | 3,300 | NTL CABLE PLC TL N | 1.75% | 97.01 | 95.34 | 11 |
| 16 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | 8.48% | 20.99 | 19.35 | 13 |
| 17 | 3,000 | WESTINGHOUSE TL B | 1.36% | 96.79 | 95.50 | 12 |
| 18 | 2,985 | HARBOR FREIGHT TL B | 2.21% | 92.41 | 90.41 | 11 |
| 19 | 2,884 | BMC SOFTWARE TL B | 1.88% | 96.37 | 94.59 | 15 |
| 20 | 2,825 | BRAND ENERGY TL | 0.10% | 87.19 | 87.10 | 18 |
| AVERAGE | 3,664 | 0.85% | 87.47 | 86.79 | 12.8 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 9/30/22 – 10/7/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | HEARTHSIDE FOODS TL B | 4.00% | 80.76 | 77.66 |
| 2 | ASURION TL B8 | 3.90% | 87.82 | 84.53 |
| 3 | CAMPING WORLD TL B | 3.74% | 91.13 | 87.84 |
| 4 | UNIVERSAL SERVICES TL B | 3.26% | 90.41 | 87.56 |
| 5 | AMNEAL PHARMACEUTIAL TL B | 3.24% | 85.55 | 82.86 |
| 6 | FRONTIER DIP TL B | 2.62% | 95.32 | 92.89 |
| 7 | CABLEVISION TL B | 2.62% | 95.99 | 93.54 |
| 8 | INTEL TL | 2.61% | 93.17 | 90.81 |
| 9 | STAPLES TL B2 | 2.34% | 95.18 | 93.00 |
| 10 | WATERWORKS TL B | 2.27% | 97.42 | 95.26 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 9/30/22 – 10/7/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | CITY BREWING TL B | -10.26% | 70.00 | 78.00 |
| 2 | CINEWORLD TL B | -8.17% | 38.14 | 41.53 |
| 3 | POULT EUR TL B | -4.76% | 70.39 | 73.90 |
| 4 | MISYS 2ND LIEN TL | -3.79% | 79.69 | 82.83 |
| 5 | SECURUS TL | -3.69% | 83.90 | 87.12 |
| 6 | ACPRODUCTS TL B | -2.78% | 73.68 | 75.79 |
| 7 | NATIONAL MENTOR TL B | -2.59% | 69.28 | 71.12 |
| 8 | WIPRO DATA CENTRE & CLOUD SERVICES INC TL B | -2.51% | 88.89 | 91.18 |
| 9 | WORLD KITCHEN TL | -2.10% | 66.10 | 67.51 |
| 10 | FITNESS & SPORT CLUBS TL B | -1.84% | 90.93 | 92.63 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 9/30/22 – 10/7/22 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 9/30/22 – 10/7/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 9/30/22 vs. the week ending 10/7/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | BLACKSTONE CQP TL B | 34 | 81 | 47 | 138% |
| 2 | CISION TL B | 24 | 50 | 26 | 108% |
| 3 | BMC SOFTWARE TL B | 82 | 107 | 25 | 30% |
| 4 | LUCKY BUCKS TL B | 15 | 40 | 25 | 167% |
| 5 | EIRCOM FINCO SARL EUR TL B | 34 | 58 | 24 | 71% |
| 6 | BANIJAY GROUP TL B | 12 | 34 | 22 | 183% |
| 7 | TRICORBRAUN TL B | 56 | 78 | 22 | 39% |
| 8 | SOVOS COMPLIANCE TL B | 28 | 50 | 22 | 79% |
| 9 | ASPEN DENTAL TL B3 | 18 | 38 | 20 | 111% |
| 10 | URBASER EUR TL B | 36 | 56 | 20 | 56% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 9/30/22 – 10/7/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | BRAND ENERGY TL | 18 |
| 2 | ACTION NEDERLAND EUR TL B | 18 |
| 3 | CINEWORLD TL B | 18 |
| 4 | TELENET EUR TL | 18 |
| 5 | VERISURE EUR TL B | 18 |
| 6 | ZIGGO EUR TL H | 17 |
| 7 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 8 | ACPRODUCTS TL B | 17 |
| 9 | AMC ENTERTAINMENT TL B1 | 17 |
| 10 | NUMERICABLE EUR TL B11 | 16 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 9/30/22 – 10/7/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 9/30/22 – 10/7/22 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.
