Sprint Secures Another $1 Billion in Financing
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.
Sprint Raising More Capital for Network Expansion
Sprint is looking to raise more cash for covering a variety of expenses. To that end, the company today kicked off a sale of $1 billion in senior notes.
Sprint Touts Network Progress
Sprint today offered a snapshot of the progress it has made deploying LTE around the country. According to its fourth quarter earnings, Sprint's LTE network now reaches 270 million POPs, up from 260 million in the previous quarter.
Sprint Says Network Vision Is Basically Done
Sprint recently indicated that its years-long Network Vision project is coming to a close. Sprint's 1900MHz LTE network covers 260 million POPs, according to Sprint CFO Joe Euteneuer, who made the comments at a Bank of America investor conference this week.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
SoftBank, Sprint Majority Owner, to Split In Two
SoftBank today revealed a plan to separate itself into two separate companies, one for its Japan-based carrier business and another for its international operations, including Sprint. SoftBank's domestic business unit, which includes investments in Yahoo Japan, will be run by Ken Miyauchi.
Eventually it catches up to you and bites you in the rear. I know from personal experience.
Sprint seems to have the money