A total of $40 million of Williams Communications' bank debt traded last week following announcements of a possible Chapter 11 bankruptcy filing, traders said. ABN Amro auctioned off $35 million of the name in the 57 range on Monday as first reported on the LMW Web site. Credit Suisse First Boston was rumored to have traded a $5 million piece at 60 later in the week. Calls to officials at ABN Amro and Williams Communications were not returned. A CSFB spokesman declined to comment on the firm's reported participation. The name had fallen from the 63 range, where it had been trading two weeks ago. Williams is the latest company to be affected by the telecom sector shakeout, which includes names such as Global Crossing and McLeodUSA.
Williams Trades On Bankruptcy Talk