Edison Mission Midwest Holdings' loan has been the talk of the secondary market this week after pieces of the company's credit traded out of the 90s into the 87 - 87 1/2 context following a bank meeting last week. A slightly less than $10 million piece was said to have traded in that range on Tuesday. The details of the bank meeting could not be determined, but there are rumors that a number of banks are looking to sell, which eerily reminds investors of the Mirant Corp. situation, market players noted. Whether or not commercial banks are ready to bail out of the name is in question, one trader said.
July 30, 2003
