Wyndham International's term loan "B" traded up to 99 1/8, while the increasing rate loan (IRL) traded at 991/ 4 last week. The "B" was at 97 a day before the trade, while the IRL was at 98. Some dealers are confused over an uptick in levels that's based on market speculation. For a while the market chattered about a possible takeover by Bass Hotels, but no confirmation has been released. "I think it may just seem more concrete to people," said a trader. The hotel operator is based in Dallas.
Calls to Richard Smith, cfo, were referred to spokeswoman Darcie Brossart, who declined to comment. "We don't comment on market rumors and speculation," she said. Wyndham has a $1.3 billion deal that breaks down into three tranches. Pricing is LIBOR plus 3 3/4%. J.P. Morgan Chase leads the deal, according to Capital DATA Loanware.