Fleming Companies' term loan "B" slumped back down with pieces trading in the low-to-mid-80s from the low 90s. The company was said to have hosted a bank meeting a week last Friday that was not as optimistic as a bank call the week before. Toward the end of last week, Fleming's "B" piece was quoted in the 82 5/8 85 1/2 level and the market for the revolver was 81 1/3 85, according to LoanX. Fleming's 101/8% notes also fell from the high 40s context, trading as low as 28 15/16. The company has a $17.7 million interest payment for its 101/8% notes due on April 1, but market players are mixed on whether or not the company will make the coupon. Calls to Mark Shapiro, senior v.p. of finance and operations control, were not returned by press time.
Fleming Slumps As Mood Changes