A $10 million piece of Exodus Communications' bank debt traded in the 95 range, dropping from over 100. Dealers attribute the slide to the departure of the company's cfo late Tuesday. There were reported trades in the 95-96 range that totaled $10 million. VoiceStream Wireless' bank debt traded at 99 1/2. Nextel Communications' bank debt is said to be inching back up on positive numbers, with dealers citing multiple small trades of the bank debt in the 95 1/2 range.
In distressed news, Regal Cinemas' bank debt is working its way towards par, with a chunk of the revolver trading at 90. Dealers cite anxiety over whether the pending Hollywood writers' strike will impact theater chains.