Sprint Nextel (S) Pays Down $1B of Outstanding Loans
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Sprint Nextel Corp. (NYSE: S - News) today announced that it paid down $1.0 billion of the outstanding loan amount under its $4.5 billion revolving credit facility. With this action Sprint Nextel no longer has an outstanding balance.
At the end of the third quarter 2009, Sprint had $5.9 billion in cash, cash equivalents and short-term investments and $1.6 billion in borrowing capacity available under its revolving bank credit facility, for total liquidity of $7.5 billion.
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