A rumored buyout by the British company Bass Hotels & Resorts was said to push trades of Wyndham International's term loan "B" up around 98 7/8 to 99 1/2, while the revolver traded at 99 1/4 -7/8. One dealer reported about $20 million had changed hands. Early this week they reported a $10 million trade of VoiceStream's paper at 99 3/4, which is down slightly for the name. In distressed news, an auction last week resulted in the sale of a $17 million chunk of Owens Corning's bank debt around 60 and a $13.5 million piece of Harnischfeger Industries' bank debt at just under 54, up three points for the credit. Owens is also said to be inching up, having traded in the 58 context the week prior. Mariner Post Acute Health Network traded at 56 today, which is said to be level to recent trades.
Wyndham Trades Up on Buyout Rumor; Owens Corning Moves at Auction