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Sprint to Offer Notes In Order to Fund Clearwire

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Nov 4, 2011, 9:39 AM by Eric M. Zeman

Sprint today indicated that it is prepared to offer two series of notes, due in 2021 and 2018, in order to raise funds. In a press release, Sprint said that the transaction will be private and backed up by its wholly owned subsidiaries. Sprint said that any funds raised through the notes offering will be used for general corporate purposes, which includes network expansion and modernization, and potential funding of Clearwire Corporation, of which Sprint owns 54%. Sprint and Clearwire have been in negotiations about the future of their network arrangement, but have yet to announce solid plans for the future. Both companies have separately announced plans to transition from WiMax to Long Term Evolution, but both have also indicated that they need additional sources of funding to make the network transitions a reality.

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