Once the dog of the market, health care names, are now among the most in demand. A total of $20 million of Mariner Post Acute Network's bank debt traded in the 60 range from 56 as dealers reported continuing improvements in the health care sector. Dade Behring's debt shot up from the low 60s to 70 late last week. Lucent Technology's paper dropped from the 96 to 91.5 range this week on the failed merger with Alcatel.
In par news, Dresser Inc.'s term loan "B" is trading at 101. Allied Waste's "B/C" paper hit 100, while VoiceStream Communication's "B" tranche is trading at 100 1/4.