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Sprint Secures Another $1 Billion in Financing

May 29, 2012, 9:21 AM by Eric M. Zeman

Sprint today announced measures it has taken in order to acquire more capital for on-going business operations. The company secured a $1 billion credit agreement from Deutsche Bank and other banks to finance equipment purchases from Ericsson for its Network Vision project. Sprint today also announced that it is retiring $1 billion in fourth quarter 2013 debt maturities. Sprint raised several billion in capital in late 2011 and early 2012 through the sale of notes. Sprint is using the funds for general operations, the build out its LTE network, and to help fund Clearwire. Sprint expects to launch its LTE network in several markets in the coming months, with 120 million POPs covered by the end of 2012.

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Comments

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ddsindpls

May 29, 2012, 7:43 PM

More debt.

I'm not a wireless company, but more debt is never a good thing. Especially when you already have plenty of it.

Eventually it catches up to you and bites you in the rear. I know from personal experience.

Andras888

May 29, 2012, 9:48 AM

Sprint seems to have the money

I'm beginning to think they can actually catch up with LTE. Great news.

JBlaze74

Oh,yes, they have the money and will catch up eventually. My only concern is are they robbing Peter to pay Paul. You have to spend money to make money, but spending other peoples' money can be dangerous. Hopefully the reward is worth it.

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ajac09

they dont have the money... they are using credit.. which means we may see a lte fee or something coming soon

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