Thursday, November 3, 2011

Sprint Moves Ahead with $4 Billion in Financing

Sprint moved ahead with the pricing of its previously announced offering of $1 billion of 1.5% notes due 2021 and $3 billion aggregate principal amount of 9% guaranteed notes due 2018.

Sprint said it will use the funds for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire.