MyTravel Journeys Upward

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MyTravel Journeys Upward

MyTravel Group's bank debt has climbed up through the 30 level over the last couple of weeks as the company moves further away from its cash crunch of last year.

MyTravel Group's bank debt has climbed up through the 30 level over the last couple of weeks as the company moves further away from its cash crunch of last year. Toward the end of last year, the bank debt was languishing in the mid-to-high 20s. The bank debt was said to be bid as high as the 35 level last week. The loan, termed the "Orlando" facility, traded in the 32 context two weeks ago. Despite its climb, some European distressed loan players question whether the paper will be able to maintain those levels. Officials at the company could not be reached by press time.

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