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Sprint Turns to Investors for $500 Million

Article Comments  17  

Aug 10, 2009, 3:30 PM   by Eric M. Zeman   @phonescooper

Today Sprint filed documents with the Securities and Exchange Commission in hopes to raise some $500 million in cash from investors. Sprint wants to offer senior unsecured notes that will mature in August 2017. Any raised funds would be used for general business expenses, as well as network expansion, debt services and acquisitions. Sprint recently announced it would acquire Virgin Mobile USA for $483 million. The company has taken a number of other steps in recent months to improve its financial footing, including outsourcing maintenance of its wireless network to Ericsson.

more info at Sprint »
more info at InformationWeek »

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Comments

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This forum is closed.

movekwik2002

Aug 10, 2009, 4:18 PM

WHY?????

Shocked Shocked Shocked

Why would they ask for $500 million after spending $483 million?????

If you cant afford to run your company then you should not buy another one!

If i cant afford to pay for my car loan i would not go buy another car!!!!!!


WTF
cuz they are giving it away...!! Laughing I WOULD NEVER INVEST IN SPRINT ---- WOULD YOU?? Go buy some stock when the market open Very Happy
...
It is probably a simple cash flow issue. Its generally not a bad idea in business to finance debt so you can maintain some liquidity. What did you expect? For them to use all their on hand cash reserves to subsidize new business deals? Then what happe...
(continues)
...
Haha, I hadnt seen this article before posting on the latest Sprint news... this helps me to believe that someone else was going to buy them, and thus lower Sprints numbers by 5+ million, so they had to move on VM
Drunk

Aug 10, 2009, 5:23 PM

Yes Mr. CEO

I make hard to work phones for the hardly working American people, because that's who I care about, because that's who I am.
In recent news, Sprint will now offer the iPre
http://www.phonescoop.com/forums/forum.php?fm=m&ff=5 ... »

read the latest on the new iPre phone
 
 
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