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