Cox announced plans to finance stock purchases.

The firm said Texas Commerce Bank National Assn. and 15 other banks will provide loans of up to $1.5 billion to finance the company’s acquisition of shares of Cox Communications to take the latter private. Cox Enterprises, the Atlanta-based publisher of the Atlanta Journal, the Atlanta Constitution and other newspapers, is offering $75 per share for the 59.3% of Cox Communications stock not already owned by Cox Enterprises or members of the Cox family. The tender offer expires May 9. Cox Communications, also based in Atlanta, owns radio and television stations in nine states.