Wyndham International's bank debt was softer last week with the "B" loan quoted in the 79-80 context. A few sellers were said to have come to the market early in the week to test the bids, but paper did not trade, noted one market player. Dealers said the name is retreating from its recent run up into the low 80s. It is unlikely that the company will be rescued by the bond market like a lot of other stressed credits, traders said. In addition, negotiations for an amendment whereby the company would be able to push out the maturity on its increasing-rate loan until June 2006 continue. Calls to Rick Smith, Wyndham's cfo, were not returned by press time.
Wyndham Bank Debt Retreats