Copying and distributing are prohibited without permission of the publisher.

Watermark

WorldCom Bank Debt Trades As Plan Approval Nears

02 Nov 2003

The bank debt under MCI, formerly known as WorldCom, was said to be trading actively in the 36-38 range last week as the company moves closer to getting a plan of reorganization approved.

The bank debt under MCI, formerly known as WorldCom, was said to be trading actively in the 36-38 range last week as the company moves closer to getting a plan of reorganization approved. Judge Arthur Gonzales was prepared to rule on the company's plan of reorganization as LMW went to press last week. The decision was scheduled for early last Friday. An MCI spokeswoman said the company was expecting to get the final plan of approval to its plan last week. She noted that the company's bankruptcy emergence date is targeted for the end of 2003 or the beginning of 2004.

02 Nov 2003