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Speculation that Xerox Corp. is staking out some type of debt refinancing has pushed the bank debt about two points higher over the last couple of weeks. "The company has stated that it will be opportunistic about accessing the capital markets," said one analyst. The current buzz anticipates that a new debt package will likely consist of new bonds and a bank debt refinancing. As LMW went to press last Thursday, the market for Xerox's revolver was quoted in the 94 1/2 context, its "A" piece was in the 97 97 1/2 range, and the "B" loan was quoted as high as the 99 level. J.P. Morgan and Bank One lead the bank deal that was revamped last June.

Owens-Illinois is working up a $2.1 billion refinancing credit that is set to emerge in the near future as the company seeks to tackle a maturing $2.45 billion debt load. The exact date of the deal's launch could not be confirmed, but bankers said it is anticipated very soon. Deutsche Bank, Bank of America, Scotia Capital, Citigroup and Bank One are the expected leads on the deal. The expected structure should shape up as a $600 million "B" loan with price talk in the LIBOR plus 31/2-4% range, a $750 million "A" piece in the LIBOR plus 3-31/2% range, and a $750 million revolver ranging from LIBOR plus 21/2-3%. A banker familiar with the deal said the structure and terms are not yet final.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

HSBC, which has the largest dealing room in Hong Kong, moved around 50 of its 300-plus treasury and capital markets staff to a makeshift parallel trading desk Monday to ensure the firm can keep an operation running if the SARS virus infects the main trading floor. "We've put them on a separate floor," said Pierre Goad, spokesman. "We're also looking at further contingency plans, such as using locations in other countries," he added.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.