Sprint Seeking More Cash
Sprint today announced that it plans to sell notes in a bid to raise more cash. According to Sprint, any proceeds derived from the sale of notes will be put toward network expansion and modernization efforts, its pension program, and other general corporate purposes. Sprint didn't say when it will sell the notes, nor how much it is looking to raise. SoftBank recently paid Sprint more than $20 billion for a large equity stake in the company. Sprint recently launched Sprint Spark, an effort to speed up its LTE network, and continues to deploy LTE around the country.
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 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 Sinks More Money Into Sprint
SoftBank has been snapping up shares of Sprint, increasing its stake recently by as much as $87 million. Despite SoftBank CEO Masayoshi Son's misgivings about the overall acquisition of Sprint, SoftBank said it "is enthusiastic about Sprint's prospects.
Sprint CEO Predicts It'll Have Top Network In Two Years
Sprint CEO Marcelo Claure believes the company will have the number 1 or number 2 network in the country within 18 to 24 months. Claure made the comments while speaking at the Recode Conference.
20 billion from Softbank. . .not enough?
Hey, I'm seeking more cash too!
"its pension program, and other general corporate purposes"