RLPC-Alltel may sell $2 bln high-yield bonds

NEW YORK, April 3 (Reuters) - Rural mobile service provider Alltel Corp will attempt to sell $2 billion in high-yield bonds next week, two traders told Reuters Loan Pricing Corp on Thursday.

The bonds are part of a $5.2 billion cash-pay bond offering that backs the company's buyout. They are expected to have a 13 percent coupon.

Last November, Alltel managed to sell $1 billion in high-yield bonds that were part of a $2.2 billion senior pay-in-kind note offering. Pay-in-kind notes give the issuer the option of paying interest in additional notes instead of cash. (Reporting by Thomas Ryan; editing by Dena Aubin)