Alltel funding outlined

6 Nov 2007

The leveraged buyout of US cellular operator Alltel is being part-funded with around USD8 billion of loans and bonds. Underwriters Citigroup, Goldman Sachs, Barclays and RBS have revealed that there will be USD6 billion of bank loans, with another USD2 million worth of bonds on offer, according to a report from Associated Press. Alltel had earlier revealed that it intended to offer up to USD5.2 billion in traditional notes plus up to USD2.5 billion in pay-in-kind toggle notes. Alltel is being acquired by equity groups TPG Capital and GS Capital Partners in a deal worth around USD27 billion, which includes almost USD3 billion of debt.

United States, Alltel Corporation