Syndicated Bank Loans
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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
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