logo
Share SHARE
FONT-SIZE Plus   Neg

Sprint Closes $1 Bln Of Notes Due 2017 And $1 Bln Of Guaranteed Notes Due 2020

Sprint Nextel Corp. (S: Quote) announced that it has closed its 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 said that it plans 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 and its subsidiary Clearwire Communications LLC.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This footwear company outperformed in the latest first quarter, despite significant headwinds from a strong U.S. dollar, slowdown at the west coast ports and seasonably cold weather in certain key markets and less efficient operations than originally anticipated at the company's European distribution center. UK-based oil giant BP Plc. and French peer Total SA Tuesday reported lower profit for the first quarter, as oil prices declined sharply from the previous year. However, results reflected stronger overall refining environment. Hartford Financial reported a decline in first-quarter profit, despite growth in premiums, due mainly to the absence of gains recorded last year.
comments powered by Disqus
RELATED NEWS
Trade S now with 
Follow RTT