Sprint Nextel Corp. (S) said it plans to offer approximately $2 billion in aggregate principal amount of notes due 2020 and notes due 2017 in a private transaction. The 2020 Notes will be guaranteed by the company's wholly-owned subsidiaries that guarantee its existing credit agreements.
The company would 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 Corp. (CLWR) and its subsidiary Clearwire Communications LLC.
by RTT Staff Writer
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