Appetite for an energy credit has helped push up Dresser Equipment's terms "A" and "B" at over 100 this week. The "A" tranche hit 101 3/4 and the "B" hit 101 1/2. Dealers report that over $100 million has traded. Tapco Carpentry's debt, offered two weeks ago in the 96 1/2 range, has now moved up a full point. A $5 million piece of Charter Communications traded at 99 5/8.
In distressed news, about $30 million of Loew Cinemas' bank debt traded in the high 80s late last week. Dealers say the fact that Pacific Capital Group is backing out on buying the company as part of its reorganization plan is "old news" in the industry and shouldn't shake up levels dramatically. A $10 million chunk of ComDisco traded in the low 60s this week.