Sprint (S) Closes Public Offering of $1 Billion in Notes Due 2017 and $1 Billion in Guaranteed Notes Due 2020
Tweet
Share
E-mailGet Alerts S Hot Sheet
Join SI Premium – FREE
Sprint Nextel Corp. (NYSE: S) announced today the closing of its previously announced offering of $1 billion aggregate principal amount of 9.125% Notes due 2017 and $1 billion aggregate principal amount of 7% Guaranteed Notes due 2020. The 2020 Notes are guaranteed by the company’s subsidiaries that guarantee its existing credit agreements.
The company intends to use the net proceeds from the offering of the Notes 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 Corporation (Nasdaq: CLWR) and its subsidiary Clearwire Communications LLC.
The company intends to use the net proceeds from the offering of the Notes 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 Corporation (Nasdaq: CLWR) and its subsidiary Clearwire Communications LLC.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boeing names Ryan Shedd as new SVP and controller
- SentinelOne Inc (S) PT Raised to $28 at Guggenheim
- Cytek faces $56M damages award in Beckman Coulter patent case
Create E-mail Alert Related Categories
Corporate NewsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
