The Washington Group's bank debt plummeted from par range to the low 60s after the company announced liquidity problems last Friday. A $25 million piece traded of Finova Group's bank debt traded at 81 1/2 to 82 range this week, as the company just filed for Chapter 11 bankruptcy protection. The filing is part of a $6 billion bailout plan from Leucadia National Corp. and Berkshire Hathaway. A piece of United States Office Products' debt at traded 58. Owens Illinois is trading in the high 92, low 93 range.
In par news, a $5 million piece of Emmis Communications is trading at 100 1/2. Lyondell is trading at 103, down from 103 1/2.