Harnischfeger Industries' attempt to exit Chapter 11 bankruptcy is said to be prompting trades at around 50. Loews Cineplex's bank debt is now offered at 88, and bids are in the 85 range, according to dealers. An auction earlier in the week resulted in a trade of Bridge Information System's bank debt at 35.5, up from 30 last week.
In par news, a total of $15-20 million VoiceStream Communications' bank debt has traded at 99 5/8 to 99 7/8 as the company gets closer to merging with Deutsche Telekom within the next month. Nextel Communications' paper is also said to be in heavy demand, with trades topping off at 96.58.