Syndicated Bank Loan Market Summary – Week Ending 6/21/24
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 6/21/24
Our newsletter presents key trends derived from observable Syndicated Bank Loan pricing data over a weekly period.
New Issues
Loans issued during the week ending 6/21/24
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| BCP V Modular Services Finance PLC | Term Loan | 1800 | 12/21/2028 | E+425 |
| Emerson Electric Co. | Term Loan | 1400 | 6/13/2031 | S+225 |
| Monotype Imaging Inc. | Term Loan | 1200 | 2/28/2031 | S+500 |
| MFG / MRH | Term Loan | 1170 | 6/1/2028 | SN+400 |
forward calendar
Forward calendar during the week ending 6/21/24
| Issuer | Deal Information | Banks | Expected Issue Date |
|---|---|---|---|
| B&G Foods Inc | $600MM (TLB) | Q2 2024 | |
| Carroll Country Energy | $425 (TLB) | BNP;BofA | Q2 2024 |
| Concentra Group Holdings | $750M (TLB) | JPM | Q2 2024 |
| Dealer Tire | $1.487B (TLB ) (-B) | RBC | Q2 2024 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 6/14/24 – 6/21/24
| RANK | SIZE (MM) | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 6,143 | MEDLINE TL B | -0.06% | 100.12 | 100.18 | 16 |
| 2 | 5,385 | ULTIMATE SOFTWARE TL B | -0.18% | 100.24 | 100.41 | 15 |
| 3 | 5,160 | MCAFEE CORP TL | -0.04% | 99.80 | 99.85 | 11 |
| 4 | 4,860 | HUB INTL LTD TL B | -0.17% | 100.07 | 100.24 | 17 |
| 5 | 4,750 | ZAYO TL | -0.21% | 86.55 | 86.73 | 15 |
| 6 | 4,741 | INTERNET BRANDS TL B | -0.24% | 99.80 | 100.03 | 13 |
| 7 | 4,525 | TRANSDIGM INC. TL I | -0.12% | 99.97 | 100.09 | 17 |
| 8 | 4,237 | INSPIRE BRANDS TL | -0.16% | 99.83 | 99.99 | 13 |
| 9 | 4,050 | CITRIX TL B | -0.04% | 100.17 | 100.21 | 10 |
| 10 | 3,935 | SS&C TECH TL B8 | -0.07% | 100.08 | 100.15 | 16 |
| 11 | 3,900 | DIRECTV TL | 0.13% | 99.98 | 99.84 | 17 |
| 12 | 3,640 | TRANSDIGM INC. TL J | -0.17% | 99.92 | 100.09 | 13 |
| 13 | 3,573 | CDK GLOBAL TL B | -1.79% | 98.65 | 100.45 | 13 |
| 14 | 3,564 | MKS INSTRUMENTS TL B | -0.33% | 99.95 | 100.28 | 10 |
| 15 | 3,500 | AMERICAN AIRLINES TL B | -0.09% | 103.29 | 103.39 | 13 |
| 16 | 3,500 | WESTINGHOUSE TL B | -0.16% | 99.96 | 100.12 | 15 |
| 17 | 3,500 | SEDGWICK TL B | -0.10% | 100.20 | 100.30 | 11 |
| 18 | 3,420 | RCN GRANDE TL | -0.45% | 80.21 | 80.57 | 12 |
| 19 | 3,380 | SOLERA TL B | -0.02% | 99.82 | 99.84 | 15 |
| 20 | 3,350 | THE NIELSEN COMPANY B.V. TL B | -0.84% | 95.11 | 95.92 | 10 |
| AVERAGE | 4,156 | -0.26% | 98.19 | 98.43 | 13.6 |
Top 10 Performers
Showcases the top 10 loan performers based on the largest bid price increases between 6/14/24-6/21/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | HEARTHSIDE FOODS TL B3 | 1.93% | 72.34 | 70.97 | 8 |
| 2 | ORBCOMM TL | 1.73% | 86.66 | 85.19 | 8 |
| 3 | AIR NEWCO LLC TL B | 1.70% | 91.75 | 90.22 | 6 |
| 4 | NTHRIVE 2ND LIEN TL | 1.56% | 68.05 | 67.01 | 5 |
| 5 | BAUSCH HEALTH COMPANIES INC. TL B | 1.05% | 90.45 | 89.52 | 8 |
| 6 | KLOECKNER EUR TL B | 1.01% | 89.57 | 88.67 | 16 |
| 7 | REVERE POWER TL B | 0.86% | 91.12 | 90.34 | 7 |
| 8 | LIBERTY TIRE TL B | 0.76% | 98.15 | 97.41 | 8 |
| 9 | TRITON WATER TL B | 0.33% | 99.87 | 99.54 | 8 |
| 10 | CABLEVISION TL B5 | 0.31% | 84.67 | 84.40 | 13 |
Bottom 10 Perfromers
Showcases the bottom 10 loan performers based on the largest bid price decreases between 6/14/24-6/21/24
| RANK | NAME | CHANGE | PRC | PRC-1W | DEALERS |
|---|---|---|---|---|---|
| 1 | CBS RADIO INC TL B | -5.57% | 47.11 | 49.89 | 8 |
| 2 | STAPLES TL B | -3.75% | 91.33 | 94.88 | 10 |
| 3 | SELECT STAFFING TL B | -3.55% | 68.96 | 71.49 | 12 |
| 4 | MAGENTA BUYER LLC 2ND LIEN TL | -3.28% | 30.51 | 31.54 | 10 |
| 5 | LANDESK TL B | -3.02% | 80.27 | 82.76 | 8 |
| 6 | IHEART TL B | -2.53% | 78.63 | 80.67 | 11 |
| 7 | MICHAELS STORES TL | -2.05% | 89.80 | 91.68 | 14 |
| 8 | THOUGHTWORKS TL | -2.03% | 97.90 | 99.93 | 9 |
| 9 | PARTS AUTHORITY TL | -1.79% | 91.00 | 92.66 | 7 |
| 10 | CDK GLOBAL TL B | -1.79% | 98.65 | 100.45 | 13 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 6/14/24-6/21/24 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 6/14/24-6/21/24
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 6/14/24 vs. the week ending 6/21/24
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | GRANT THORNTON ADVISORS LLC TL B | 8 | 33 | 25 | 313% |
| 2 | SCIENTIFIC GAMES TL B | 4 | 29 | 25 | 625% |
| 3 | CULLIGAN TL B | 36 | 60 | 24 | 67% |
| 4 | TRANSUNION TL B | 24 | 46 | 22 | 92% |
| 5 | PLAYA RESORTS TL B | 20 | 39 | 19 | 95% |
| 6 | EDELMAN FINANCIAL TL B | 36 | 54 | 18 | 50% |
| 7 | PIPELINE CYNERGY TL B | 6 | 20 | 14 | 233% |
| 8 | COMPREHENSIVE EYECARE PARTNERS TL | 2 | 16 | 14 | 700% |
| 9 | SABERT TL B | 6 | 20 | 14 | 233% |
| 10 | SOLENIS TL B | 24 | 36 | 12 | 50% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 6/14/24-6/21/24
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | TRANSDIGM INC. TL I | 18 |
| 2 | TRANSDIGM INC. TL K | 18 |
| 3 | VERIFONE TL B | 18 |
| 4 | TENNECO TL B | 18 |
| 5 | HUB INTL LTD TL B | 17 |
| 6 | HILEX POLY TL B | 17 |
| 7 | BERRY PLASTICS TL | 17 |
| 8 | BMC SOFTWARE TL B | 17 |
| 9 | FRONERI TL B | 17 |
| 10 | BERRY PLASTICS TL Z | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 6/14/24-6/21/24
Sector Bid-Offer Spread
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.
