Charter Communications' operating company "B" loan gained almost two points last week with the name changing hands in the 961/2973/4 range. Traders said a rumor that Charter is looking to put together a second-lien financing package returned to the market. One trader said he did not lend much credence to the buzz and no concrete details on any possible financing plans could be determined. Other market players cited the general run-up in the secondary market, particularly in cable names, as the source of the increase in the price for Charter paper. Charter's 85/8% bonds also moved up to the 80-81 level last week, which contributed to the rise in the loan, a dealer explained. A Charter spokesman did not respond to attempts to contact him regarding the rumor.
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Promoted By Commerzbank
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