Syndicated Bank Loan Market Summary – January 2026
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: January 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 1/31/26
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Africa Finance Corp. | – | Term Loan | 8/12/2028 | S+110 |
| Turk Ekonomi Bankasi AS | – | Term Loan | 11/15/2026 | E+85 |
| Action Nederland BV | – | Term Loan | 10/26/2032 | – |
| Anticimex Intl. | 600 | Term Loan | 11/30/2031 | – |
| Orpea | 2200 | Term Loan | 11/12/2031 | E+274 |
| Radiate Holdco LLC | – | Delayed-draw Term Loan | 6/26/2029 | – |
| Focus Financial Partners LLC | – | Term Loan | 9/15/2031 | – |
| Castle US Holding Corp. | – | Term Loan | 5/31/2030 | – |
| American Bath | 140 | Term Loan | 11/23/2027 | – |
| Covis Pharma BV | 595 | Term Loan | 2/18/2027 | – |
| Gulf Energy Maritime PJSC | 275 | Term Loan | 6/15/2024 | – |
| CPC Acquisition Corp. | 225 | Term Loan | 12/30/2028 | S+775 |
| Eroski Sociedad Cooperativa | 337 | Term Loan | 2/1/2028 | – |
| Highpeak Energy Inc. | – | Term Loan | 9/29/2028 | – |
| ITG Communications | – | Term Loan | 7/1/2031 | S+475 |
| Turkiye Garanti Bankasi AS | 143 | Term Loan | 12/6/2024 | E+325 |
| ISBANK | 331 | Term Loan | 11/19/2023 | E+400 |
| Arab Rep Egypt | 976 | Term Loan | 12/25/2027 | – |
| Denizbank AS | 134 | Term Loan | 11/30/2026 | E+125 |
| Al Rajhi Banking and Investment Corp. | 1430 | Term Loan | 8/25/2026 | – |
| Phenna Group | 890 | Term Loan | 6/19/2031 | E+325 |
Largest Loans
Highlights the monthly price movements and quote depth for the 20 largest bank loans between 1/1/26 – 1/31/26
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,272 | UKG INC (USD) TL S+250 2/9/2031 | 0.16% | 100.06 | 99.90 | 19 |
| 2 | 6,145 | MAGNOLIA (USD) TL L+375 2/1/2028 | 5.39% | 92.51 | 87.78 | 13 |
| 3 | 5,621 | SOLAREDGE TECHS INC (USD) TL B S+250 7/31/2031 | 0.17% | 100.30 | 100.14 | 12 |
| 4 | 5,500 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | -0.75% | 99.62 | 100.38 | 19 |
| 5 | 5,080 | ALLIED UNIVERSAL HOLDCO LLC (USD) TL B S+325 8/5/2032 | 11.26% | 100.44 | 90.28 | 18 |
| 6 | 4,741 | INTERNET BRANDS (USD) TL B3 S+425 4/20/2028 | -7.61% | 92.74 | 100.38 | 13 |
| 7 | 4,664 | PROOFPOINT (USD) TL B S+300 8/31/2028 | 0.32% | 100.38 | 100.05 | 15 |
| 8 | 4,230 | TK ELEVATOR (US) NEWCO INC TL B | 0.07% | 100.63 | 100.56 | 16 |
| 9 | 4,204 | JANE STREET (USD) TL B S+200 12/10/2031 | 0.47% | 99.47 | 99.00 | 16 |
| 10 | 4,074 | MEDLINE BORROWER LP (USD) TL B S+200 10/23/2028 | 0.26% | 100.25 | 99.99 | 10 |
| 11 | 4,001 | CITADEL (USD) TL B S+200 10/28/2031 | 0.36% | 100.48 | 100.13 | 15 |
| 12 | 3,935 | SS&C TECHS INC (USD) TL B8 S+200 5/2/2031 | 0.18% | 100.53 | 100.35 | 12 |
| 13 | 3,914 | BROADSTREET PARTNERS INC (USD) TL B S+275 6/16/2031 | -0.15% | 100.27 | 100.41 | 17 |
| 14 | 3,830 | ALLIANT HLDGS INTERMEDIATE LLC (USD) TL B S+250 9/19/2031 | -0.01% | 100.24 | 100.25 | 18 |
| 15 | 3,736 | UFC (USD) TL B5 S+200 11/21/2031 | 0.41% | 100.41 | 100.00 | 15 |
| 16 | 3,640 | TRANSDIGM INC (USD) TL J S+250 2/12/2031 | 0.05% | 100.31 | 100.26 | 15 |
| 17 | 3,600 | GLOBAL MEDICAL RESPONSE INC (USD) TL S+350 9/10/2032 | 0.23% | 100.36 | 100.13 | 14 |
| 18 | 3,573 | CDK GLOBAL (USD) TL B S+325 7/6/2029 | -15.88% | 84.54 | 100.50 | 13 |
| 19 | 3,500 | MEDLINE BORROWER LP (USD) TL B S+200 10/21/2030 | 21.19% | 100.29 | 82.75 | 12 |
| 20 | 3,488 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | -0.10% | 99.96 | 100.06 | 18 |
| AVERAGE | 4,387 | 0.80% | 98.69 | 98.16 | 15.0 |
Top 10 Outperformers
Showcases the top 10 loan “outperformers” based on the largest bid price increases between 1/1/26 – 1/31/26
| RANK | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|
| 1 | MAGENTA BUYER LLC (USD) 3RD OUT TL S+625 7/27/2028 | 19.46% | 25.30 | 21.18 | 9 |
| 2 | ATOS SE (EUR) 2L TL E+500 12/18/2032 | 17.23% | 70.47 | 60.12 | 6 |
| 3 | STEINHOFF EUROPE (AT) AG (EUR) PIK 2L TL B2 E+1075 12/31/2021 | 14.60% | 34.88 | 30.44 | 8 |
| 4 | HERTZ CORP (USD) TL B S+375 6/30/2028 | 13.68% | 94.60 | 83.21 | 12 |
| 5 | GEON PERFORMANCE (USD) TL B S+425 8/18/2028 | 10.29% | 86.58 | 78.50 | 6 |
| 6 | GENUINE FINANCIAL (USD) TL B S+325 9/21/2030 | 8.33% | 89.88 | 82.97 | 9 |
| 7 | CSC SERVICEWORKS INC (USD) TL L+400 3/4/2028 | 7.20% | 81.63 | 76.15 | 13 |
| 8 | VET INTERMEDIATE (USD) TL B S+500 9/19/2029 | 7.09% | 95.73 | 89.39 | 11 |
| 9 | OSCAR ACQUISITIONCO LLC (USD) TL B S+425 4/29/2029 | 6.72% | 75.87 | 71.10 | 14 |
| 10 | CERBA HEALTHCARE (EUR) TL B E+375 5/24/2028 | 5.37% | 77.06 | 73.13 | 13 |
Top 10 Underperformers
Showcases the top 10 loan “underperformers” based on the largest bid price decreases between 1/1/26 – 1/31/26
| RANK | NAME | CHANGE | PRC | PRC-1M | DEALERS |
|---|---|---|---|---|---|
| 1 | MULTI-COLOR (EUR) TL B E+500 10/29/2028 | -35.48% | 43.72 | 67.76 | 10 |
| 2 | VERACODE (USD) TL B S+475 5/2/2029 | -35.35% | 41.68 | 64.47 | 11 |
| 3 | TROPICANA (USD) 3RD OUT TL S+1100 1/24/2030 | -27.35% | 20.84 | 28.68 | 8 |
| 4 | RACKSPACE TECH GLOBAL INC (USD) 2ND OUT TL B S+275 5/15/2028 | -26.48% | 26.47 | 36.01 | 13 |
| 5 | VIBRANTZ TECHS INC (USD) TL S+425 4/21/2029 | -25.62% | 39.90 | 53.64 | 14 |
| 6 | SONICWALL (USD) TL B S+500 5/15/2028 | -22.56% | 49.79 | 64.30 | 13 |
| 7 | ENTERTAINMENT PARTNERS (USD) TL B S+450 11/6/2028 | -14.92% | 60.89 | 71.57 | 9 |
| 8 | INEOS FIN PLC (USD) TL B S+300 2/7/2031 | -12.40% | 70.22 | 80.15 | 11 |
| 9 | NAPA MANAGEMENT SERVICES (USD) TL B L+525 2/23/2029 | -12.26% | 60.44 | 68.89 | 10 |
| 10 | SKILLSOFT (USD) TL B S+525 7/16/2028 | -11.98% | 62.40 | 70.89 | 9 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 1/1/26 – 1/31/26 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 1/1/26 – 1/31/26
Top Quote Volume Movers: This Month vs Last Month
Exhibits the loans with the largest increase in quote volume for the month ending 12/31/25 vs. the month ending 1/31/26
| RANK | TRANCHE | PRIOR MONTH | THIS MONTH | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | TECTA AMERICA (USD) TL B S+275 2/17/2032 | 20 | 180 | 160 | 800% |
| 2 | KISSNER MILLING CO LTD (USD) TL B S+275 1/31/2029 | 62 | 202 | 140 | 226% |
| 3 | WESTINGHOUSE (USD) TL B S+200 1/24/2031 | 155 | 292 | 137 | 88% |
| 4 | NGL ENERGY FIN CORP (USD) TL B S+350 2/2/2031 | 124 | 257 | 133 | 107% |
| 5 | FOCUS FNCL PARTNERS LLC (USD) TL C S+250 9/15/2031 | 178 | 300 | 122 | 69% |
| 6 | MAGENTA BUYER LLC (USD) 3RD OUT TL S+625 7/27/2028 | 46 | 156 | 110 | 239% |
| 7 | INEOS FIN PLC (EUR) TL B E+275 11/8/2028 | 57 | 165 | 108 | 189% |
| 8 | ROCKPOINT GAS STORAGE PARTNERS LP (USD) TL B S+250 9/18/2031 | 146 | 242 | 96 | 66% |
| 9 | MOTEL ONE (EUR) TL B E+362 6/4/2032 | 70 | 155 | 85 | 121% |
| 10 | PROMONTORY (USD) TL B S+375 7/31/2031 | 188 | 271 | 83 | 44% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 1/1/26 – 1/31/26
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | DAYFORCE INC (USD) TL B S+300 10/7/2032 | 21 |
| 2 | HUB INTL LTD (USD) TL B S+250 6/20/2030 | 19 |
| 3 | UKG INC (USD) TL S+250 2/9/2031 | 18 |
| 4 | EMRLD BORROWER LP (USD) TL B S+225 5/31/2030 | 18 |
| 5 | FERTITTA ENTERTAINMENT LLC (USD) TL B S+325 1/27/2029 | 18 |
| 6 | BELLIS ACQUISITION CO PLC (EUR) TL B E+425 5/2/2031 | 18 |
| 7 | WHITE CAP BUYER LLC (USD) TL B S+325 10/19/2029 | 17 |
| 8 | WHATABURGER (USD) TL B S+250 8/3/2028 | 17 |
| 9 | AMWINS GROUP INC (USD) TL B S+225 1/23/2032 | 17 |
| 10 | BMC SOFTWARE (USD) TL B S+325 7/30/2031 | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 1/1/26 – 1/31/26
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 1/1/26 – 1/31/26 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.
