Strong investor demand for a junk-bond offering by the textile concern WestPoint Stevens Inc. will result in a sharp cutback in the size of a recently underwritten bank deal for the company.

The $750 million package of bank loans, led by the banking units of Bankers Trust New York Corp. and NationsBank Corp., will be reduced by $400 million, said a spokesman for the Georgia-based company, which is to succeed West Point-Pepperell.

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