Valor Telecommunications to start roadshow Thursday for $280 million 10-year notes

By Paul A. Harris

St. Louis, Jan. 26 - Valor Telecommunications Enterprises LLC, in conjunction with Valor Telecommunications Enterprises Finance Corp., will begin a roadshow Thursday for a $280 million offering of 10-year senior notes (B1/B), according to a syndicate source.

Pricing is expected early in the week of Feb. 7.

The notes are non-callable for five years.

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

The company is also in the market with an approximately $500 million concurrent offering of common shares, according to the source, who added that the stock will pay a large dividend.

Proceeds will be used to repay $306 million of the company's newly issued $1.3 billion senior secured term loan, its $265 million second-lien loan and its $135 million senior subordinated loan.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.