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FCC approves Alltel’s CenturyTel buy

LITTLE ROCK, Ark.—Following approval from the Federal Communications Commission for its purchase of CentruyTel Inc.’s wireless assets, Alltel said it plans to offer $1.5 billion in senior notes within the next week to help finance the acquisition and its pending acquisition of Verizon Communications’ local telephone business in Kentucky.

Alltel appointed Banc of America Securities L.L.C. and Merrill Lynch & Co. as joint-bookrunning managers and Stephens Inc. as a co-lead manager for the offering.


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