Here are few more details about the financing arrangements related to the Verizon-Alltel $28.1 billion buyout.  In this SEC filing, it appears that Verizon reduced the commitment from its announced lenders from $17 billion to $14.5 billion, but there is no detail on where the additional funds to secure the estimated $22 billion in debt may come from.

Also, circle January 6, 2009, as a possible closing date for the transaction.  The filing states that Verizon’s new credit agreement will be available beginning January 6, and ending on the earliest of August 31, 2009 or the consummation or termination of the merger.

Expect it to happen before January 26.  There is an incentive to facilitate the financing before that date.  Beyond that late January day, Verizon has to pay a “commitment fee” on the daily average unused commitment of each lender.

The credit agreement disclosed in the filing also contains certain negative covenant agreements and it requires Verizon Wireless to maintain a leverage ratio of 3.25 to 1.  Typically, a company’s leverage ratio is the ratio of total debt to total assets.