Syndicated Bank Loans

GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX.  LEARN MORE

Syndicated Bank Loan Market Summary:
July 2023

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 7/31/23

ISSUER AMOUNT (MM) LOAN TYPE MATURITY RATE
Fortress Investment Group 850 Term Loan 6/1/2029 S+300
Arqiva 450 Term Loan 3/30/2028 SN+500
AQ Carver Buyer Inc. 575 Term Loan 7/18/2029 S+550
Arconic Rolled Products Corp. 1425 Term Loan 7/27/2030 S+450
Select Medical Hldgs Corp. 2103 Term Loan 3/1/2027 S+300
Citadel Securities LP 3550 Term Loan 7/18/2030 S+250
Refficiency Hldg LLC 155 Term Loan 12/16/2027 S+375
AnQore BV 300 Term Loan 12/1/2027 L+550
Calpine Corp. 1250 Term Loan 7/17/2030 S+225
Software AG 600 Term Loan 7/18/2030 E+500
Software AG 400 Term Loan 7/18/2030 S+500
Monitronics Intl. Inc. 600 Term Loan 6/30/2028 S+750
Janus International Group LLC 625 Term Loan 7/17/2030 N/A
Dun & Bradstreet Corp. 2666 Term Loan 2/8/2026 L+275
Dexko Global 300 Term Loan 10/4/2028 N/A
Brand Energy & Infra Services 1335 Term Loan 7/17/2030 S+550
Arconic Inc. 1000 Term Loan 7/17/2030 S+475
Go Daddy Operating Co. LLC 1761 Term Loan 11/10/2029 S+250
ION Corporates 500 Term Loan 7/1/2030 S+425
AlixPartners LLP 400 Term Loan 2/4/2028 S+275
Phoenix Services LLC N/A Term Loan 6/13/2028 N/A
CentroMotion 450 Term Loan 7/11/2030 S+600
Saphilux Sarl 520 Term Loan 7/1/2028 S+475
Ontic 837 Term Loan 10/23/2028 S+400
Great Canadian Gaming Corp. 800 Term Loan 7/10/2030 N/A
SiteOne Landscape Supply LLC 120 Term Loan N/A S+200
Lackawanna Energy Center LLC 350 Term Loan 6/30/2029 S+950
Flora Food Group 2375 Term Loan 1/2/2028 E+500
Assystem 50 Term Loan 9/27/2027 SN+650
Sierra Nevada Corp. 226 Term Loan 6/29/2028 N/A
OMNIA Partners Inc. 1650 Term Loan 7/6/2030 S+425
Lackawanna Energy Center LLC 380 Term Loan 7/19/2029 S+500
Lackawanna Energy Center LLC 90 Term Loan 7/19/2029 S+500
Odyssey Logistics & Technology Corp. 501 Term Loan 10/1/2027 S+450
GVC Holdings PLC 236 Term Loan 6/28/2028 E+375
Flora Food Group 833 Term Loan 1/2/2028 S+475
Curium 1066 Term Loan 7/2/2029 S+450

Largest Loans

Highlights the monthly price movements and quote depth for the 20 largest bank loans between 7/1/23 – 7/31/23

RANK SIZE (MM) NAME CHANGE PX PX-1M DEALERS
1 8,572 GEO GROUP TL1 0.04% 101.52 101.48 14
2 7,270 MEDLINE TL B 0.11% 98.90 98.79 10
3 5,900 ATHENAHEALTH TL 1.26% 96.92 95.71 10
4 5,000 UNITED CONTINENTAL TL B 0.15% 100.03 99.87 13
5 4,750 ZAYO TL -3.10% 76.05 78.49 15
6 4,750 HUB INTL LTD TL B5 0.24% 100.39 100.15 14
7 4,741 INTERNET BRANDS TL B 0.51% 96.25 95.76 11
8 4,559 TRANSDIGM INC. TL I 0.15% 100.03 99.89 18
9 4,475 UNIVISION TL C5 -0.27% 99.89 100.16 10
10 4,260 NUMERICABLE TL B -7.58% 82.13 88.86 10
11 4,050 CITRIX TL B 2.51% 95.72 93.38 11
12 3,900 DIRECTV TL 1.73% 99.31 97.62 16
13 3,600 CDK GLOBAL TL 0.29% 100.00 99.71 13
14 3,582 MISYS TL B 0.90% 96.81 95.95 12
15 3,515 LIFEPOINT HOSPITALS TL B 6.01% 98.16 92.59 10
16 3,500 AMERICAN AIRLINES TL B 1.28% 103.44 102.14 13
17 3,500 PILOT TRAVEL TL B 0.03% 99.82 99.80 11
18 3,450 GOLDEN NUGGET INC TL B 0.04% 98.83 98.79 15
19 3,420 RCN GRANDE TL 0.64% 84.01 83.47 10
20 3,380 SOLERA TL B 2.87% 94.31 91.67 11
AVERAGE 4,509 0.39% 96.13 95.72 12.4

Top 10 Outperformers

Showcases the top 10 loan “outperformers” based on the largest bid price increases between 7/1/23 – 7/31/23

RANK NAME CHANGE PX PX-1M DEALERS
1 AT&T COLOCATION TL 25.54% 74.98 59.73 8
2 WEIGHT WATCHERS TL B 14.52% 74.59 65.13 9
3 IMPERVA TL 10.72% 99.95 90.28 10
4 COMPREHENSIVE EYECARE PARTNERS TL 9.64% 80.30 73.25 10
5 REVERE POWER TL B 7.30% 79.64 74.22 7
6 EQUINOX HLDGS INC 2ND LIEN TL 6.95% 79.88 74.68 8
7 THE NIELSEN COMPANY B.V. EUR TL B3 6.41% 93.20 87.59 9
8 HUBBARD RADIO TL B 6.29% 94.19 88.62 5
9 LASERSHIP TL 6.12% 85.35 80.42 7
10 LIFEPOINT HOSPITALS TL B 6.01% 98.16 92.59 10

Top 10 Underperformers

Showcases the top 10 loan “underperformers” based on the largest bid price decreases between 7/1/23 – 7/31/23

RANK NAME CHANGE PX PX-1M DEALERS
1 FLINT GROUP PIK 2ND LIEN TL -39.75% 25.00 41.49 4
2 MITEL NETWORKS SO P TL -38.74% 33.34 54.43 3
3 ACCOLADE WINES GBP TL B -26.48% 37.19 50.59 14
4 CONVERGEONE 2ND LIEN TL -25.86% 26.10 35.21 5
5 EXACTECH TL B -21.20% 40.00 50.76 4
6 ZAYO EUR TL -9.77% 70.73 78.39 14
7 QWEST CORPORATION TL B -9.15% 69.60 76.61 9
8 RSA SECURITY LLC TL B -8.42% 76.17 83.17 12
9 NUMERICABLE TL B -7.58% 82.13 88.86 10
10 SANDVINE TL -7.53% 86.45 93.49 5

Avg Bid PX by Sector

Displays the average loan bid price by sector between 7/1/23 – 7/31/23

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 7/1/23 – 7/31/23

Top Quote Volume Movers: This Month vs Last Month

Exhibits the loans with the largest increase in quote volume for the month ending 6/30/23 vs. the month ending 7/31/23

RANK TRANCHE PRIOR MONTH THIS MONTH INCREASE % INCREASE
1 CYANCO TL B 2 128 126 6300%
2 UNIVERSAL SERVICES TL B 216 338 122 56%
3 INEOS FIN TL B 8 126 118 1475%
4 POWER SOLUTIONS TL 42 152 110 262%
5 MERION ROSE MERGER TL B 54 151 97 180%
6 KOUTI BV EUR TL B 40 135 95 238%
7 WYNDHAM HOTELS TL B 67 162 95 142%
8 STARS GROUP TL B 261 355 94 36%
9 XPO LOGISTICS TL B 114 205 91 80%
10 GRAY TELEVISION TL E 211 300 89 42%

Most Quoted Loans

Ranks the loans that were quoted by the highest number of dealers between 7/1/23 – 7/31/23

RANK TRANCHE DEALERS
1 TRANSDIGM INC. TL I 18
2 HILEX POLY TL B 17
3 ZIGGO EUR TL H 17
4 BELLIS ACQUISITION CO PLC EUR TL B 17
5 CHEPLAPHARM ARZNEIMITTEL EUR TL B 16
6 TRANSDIGM INC. TL H 16
7 NORD ANGLIA EDUCATION FINANC EUR TL B 16
8 CEVA SANTE ANIMALE EUR TL B 16
9 TELENET EUR TL 16
10 NTL CABLE PLC EUR TL R 16

Bid and Offer Volume

Reveals the total number of quotes by bid and offer between 7/1/23 – 7/31/23

Sector Bid-Offer Spread

Displays the bid-offer spread by sector between 7/1/23 – 7/31/23

Results are based on 5 select industry sectors, however, we offer data across 36 sectors

Stay up-to-date with weekly summaries.

SUBSCRIBE

Stay up-to-date with weekly summaries and blogs.

SOLVE Media & Insights Examples

MARKET SUMMARIES

INSIGHTS

NEWS & ANNOUNCEMENTS