Syndicated Bank Loan Market Summary – Week Ending 8/26/22
GET OUR BANK LOAN MARKET SUMMARIES STRAIGHT TO YOUR INBOX. LEARN MORE
Syndicated Bank Loan Market Summary: Week Ending 8/26/22
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 8/26/22
| ISSUER | AMOUNT (MM) | LOAN TYPE | MATURITY | RATE |
|---|---|---|---|---|
| Eyecare Partners, LLC | 250 | Term Loan | 11/1/2028 | S+460 |
Forward Calendar
List of upcoming syndicated loan being marketed in the United States as of 8/26/22
| ISSUER | DEAL INFORMATION | BANKS | EXPECTED ISSUE DATE |
|---|---|---|---|
| Avalara Inc. | $2.75B credit facilities: $250MM revolver; $2.5B TL | VEP | Q3 2022 |
| Avient Corp | $575MM TLB (Ba1/BB+) | MS, JPM | Q3 2022 |
| Bettcher Industries | $200MM TL (B-) | UBS, KKR, JEFF | Q3 2022 |
| Citrix Systems Inc. | $8.05B credit facilities: $1B revolver; $7.05B TL | CS, GS, BCLY, CITI, DB, KKR | Q3 2022 |
Largest Loans
Highlights the weekly price movements and quote depth for the 20 largest bank loans between 8/19/22 – 8/26/22
| RANK | SIZE (MM) | NAME | CHANGE | PX | PX-1W | DEALERS |
|---|---|---|---|---|---|---|
| 1 | 5,450 | ENVISION HEALTHCARE TL B | 6.22% | 26.64 | 25.08 | 12 |
| 2 | 5,000 | UNITED CONTINENTAL TL B | -0.55% | 97.57 | 98.10 | 10 |
| 3 | 4,750 | ZAYO TL | -1.07% | 91.90 | 92.89 | 12 |
| 4 | 4,700 | CAESARS RESORT COLLECTION TL B | 0.06% | 98.81 | 98.75 | 13 |
| 5 | 3,900 | DIRECTV TL | -0.82% | 96.07 | 96.86 | 14 |
| 6 | 3,600 | CDK GLOBAL TL | -0.61% | 97.30 | 97.89 | 13 |
| 7 | 3,582 | MISYS TL B | -0.58% | 93.59 | 94.14 | 11 |
| 8 | 3,524 | TRANSDIGM INC. TL F | -0.38% | 97.69 | 98.05 | 12 |
| 9 | 3,400 | REFRESCO HOLDING EUR TL B | 0.32% | 97.51 | 97.20 | 14 |
| 10 | 3,380 | SOLERA TL B | -0.52% | 96.17 | 96.67 | 15 |
| 11 | 3,325 | CINEWORLD TL B | -3.35% | 64.06 | 66.29 | 14 |
| 12 | 3,312 | HUB INTL LTD TL B | -0.38% | 97.96 | 98.33 | 13 |
| 13 | 3,300 | NTL CABLE PLC TL N | -0.14% | 97.81 | 97.95 | 11 |
| 14 | 3,222 | DIAMOND SPORTS 2ND LIEN TL | -1.55% | 18.18 | 18.47 | 10 |
| 15 | 3,000 | WESTINGHOUSE TL B | -0.01% | 97.86 | 97.87 | 12 |
| 16 | 2,985 | HARBOR FREIGHT TL B | -0.04% | 95.55 | 95.59 | 12 |
| 17 | 2,884 | BMC SOFTWARE TL B | -0.92% | 96.89 | 97.79 | 15 |
| 18 | 2,825 | BRAND ENERGY TL | -1.52% | 89.96 | 91.35 | 15 |
| 19 | 2,750 | REALPAGE TL B | -0.39% | 96.23 | 96.60 | 12 |
| 20 | 2,710 | DELL SOFTWARE GROUP TL B | -0.81% | 91.07 | 91.81 | 10 |
| AVERAGE | 3,580 | -0.35% | 86.94 | 87.38 | 12.5 |
Top 10 Winners
Showcases the top 10 loan “winners” based on the largest bid price increases between 8/19/22 – 8/26/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | AVAYA TL B2 | 26.75% | 56.47 | 44.55 |
| 2 | INNOVATIVE XCESSORIES TL | 2.09% | 71.99 | 70.52 |
| 3 | POULT EUR TL B | 1.90% | 74.96 | 73.56 |
| 4 | CINEWORLD PIK P TL B1 | 1.74% | 114.32 | 112.36 |
| 5 | DEXKO TL B | 1.45% | 95.65 | 94.28 |
| 6 | RENT-A-CENTER TL B | 1.03% | 96.71 | 95.72 |
| 7 | ANASTASIA BEVERLY HILLS TL B | 0.99% | 79.41 | 78.63 |
| 8 | FIRST STUDENT TL B | 0.87% | 95.95 | 95.13 |
| 9 | AVOLON TL B4 | 0.75% | 97.72 | 97.00 |
| 10 | ENERGYSOLUTIONS TL B | 0.74% | 92.90 | 92.22 |
Top 10 Losers
Showcases the top 10 loan “losers” based on the largest bid price decreases between 8/19/22 – 8/26/22
| RANK | NAME | CHANGE | PX | PX-1W |
|---|---|---|---|---|
| 1 | RACKSPACE HOSTING TL B | -9.69% | 80.98 | 89.67 |
| 2 | MITEL NETWORKS 2ND LIEN TL | -7.44% | 54.64 | 59.03 |
| 3 | AT&T COLOCATION TL | -2.27% | 76.66 | 78.44 |
| 4 | PLY GEM TL | -2.23% | 90.11 | 92.16 |
| 5 | SYNCSORT 2ND LIEN TL | -1.97% | 87.47 | 89.23 |
| 6 | WESTJET TL | -1.92% | 91.40 | 93.18 |
| 7 | MITEL NETWORKS TL | -1.88% | 61.16 | 62.33 |
| 8 | AT HOME STORES TL B | -1.83% | 80.15 | 81.64 |
| 9 | LANDESK TL B | -1.79% | 86.40 | 87.98 |
| 10 | ASURION TL B8 | -1.79% | 91.95 | 93.62 |
Avg Bid PX by Sector
Displays the average loan bid price by sector between 8/19/22 – 8/26/22 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 8/19/22 – 8/26/22
Top Quote Volume Movers: This Week vs Last Week
Exhibits the loans with the largest increase in quote volume for the week ending 8/19/22 vs. the week ending 8/26/22
| RANK | TRANCHE | PRIOR WEEK | THIS WEEK | INCREASE | % INCREASE |
|---|---|---|---|---|---|
| 1 | HERENS HOLDCO SARL EUR TL B | 32 | 56 | 24 | 75% |
| 2 | XELLA INTERNATIONAL GMBH EUR TL B | 14 | 33 | 19 | 136% |
| 3 | DIRECTV TL | 60 | 78 | 18 | 30% |
| 4 | AWAZE EUR TL B | 8 | 26 | 18 | 225% |
| 5 | US SILICA CO TL B | 28 | 44 | 16 | 57% |
| 6 | US FOODS TL B | 54 | 70 | 16 | 30% |
| 7 | AWAZE EUR TL B2 | 0 | 16 | 16 | NA |
| 8 | AWAZE EXT EUR TL B | 0 | 16 | 16 | NA |
| 9 | SAMSONITE TL B | 16 | 32 | 16 | 100% |
| 10 | PROOFPOINT TL B | 52 | 66 | 14 | 27% |
Most Quoted Loans
Ranks the loans that were quoted by the highest number of dealers between 8/19/22 – 8/26/22
| RANK | TRANCHE | DEALERS |
|---|---|---|
| 1 | ACTION NEDERLAND EUR TL B | 19 |
| 2 | ZIGGO EUR TL H | 18 |
| 3 | TELENET EUR TL | 18 |
| 4 | VERISURE EUR TL B | 18 |
| 5 | NUMERICABLE EUR TL B11 | 17 |
| 6 | CEVA SANTE ANIMALE EUR TL B | 17 |
| 7 | CINEWORLD TL B | 17 |
| 8 | IFCO EUR TL B | 17 |
| 9 | ACTION NEDERLAND EXT EUR TL B | 17 |
| 10 | FRONERI EUR TL B | 17 |
Bid and Offer Volume
Reveals the total number of quotes by bid and offer between 8/19/22 – 8/26/22
Sector Bid-Offer Spread
Displays the bid-offer spread by sector between 8/19/22 – 8/26/22 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.
