It took a little house work, but Tapco Carpentry's bank debt is slowly but surely moving up and is now bid at 97 1/2. The paper was offered at 96 1/2 a few weeks ago and has slowly inched up in a series of trades. Tapco, based in Plymouth, Mich., constructs shutters for houses. A company spokesman could not be reached by press time. Tapco has a $217 million credit facility that expires in 2008. Well Fargo Bank and Morgan Stanley lead the deal, according to Capital DATA Loanware.
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