Valor Telecommunications upsizes to $400 million, 10-year notes talked 7 5/8% area

By Paul A. Harris

St. Louis, Feb. 7 - Valor Telecommunications Enterprises LLC/Finance Corp. has upsized its offering of 10-year senior notes (B1/B) to $400 million from $280 million, according to a syndicate source.

Price talk is in the 7 5/8% area, with the notes expected to price on Tuesday.

Banc of America Securities LLC, JP Morgan and Merrill Lynch & Co. are joint bookrunners for the Rule 144A offering. CIBC World Markets and Wachovia Securities are co-managers.

The company's term loan B was concurrently decreased by $120 million.

Proceeds will be used to repay bank debt.

Valor is an Irving, Texas-based provider of telecom services in rural communities in the southwestern United States.

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