The notes will price on April 26, Bloomberg News reported, quoting a person familiar with the transaction who declined to be identified. The offering will include notes maturing in eight years that pay interest at fixed and floating interest rates and 10-year fixed-rate securities, Hawaiian Telcom said in a press release distributed by Business Wire.

Carlyle agreed to buy the business from Verizon for $1.65 billion in May. It had $610 million of sales in 2003, New York-based Verizon said when the transaction was announced.The notes being sold this month haven't yet been rated by Moody's Investors Service or Standard & Poor's, though they will have high-yield, high-risk, credit ratings, the person said.

Goldman Sachs Group Inc., JPMorgan Chase & Co. and Lehman Brothers Holdings Inc. are managing the bond offering. The sale of Verizon Hawaii to The Carlyle Group is expected to close in late April or early May.

Hilton buys fee for Waikoloa Village

Hilton Hotels Corp. bought the fee interest in the land for the Hilton Waikoloa Village for $115 million, Hilton said today.

Hilton, which owns the 1,241-room resort on the Big Island, had previously leased the 62 acres of land from Lanpar/HTL Associates, with the lease expiring in 2061.

In addition to the hotel, Hilton is also developing and selling 120 two-bedroom timeshare units at Waikoloa and plans more development there.