Sprint Nets $4 Billion from Notes Offering
Article Comments 4
Nov 9, 2011, 1:13 PM by Eric M. Zeman
updated Nov 9, 2011, 1:22 PM
Sprint today announced that it has closed its notes offering and brought in $1 billion from notes due in 2021 and $3 billion from notes due in 2018 for a total of $4 billion. Sprint plans to use the proceeds from the notes offering 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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Sprint seems pretty open about these kind of things
Sprint isn't being transparent by choice, they are being transparent because their investors are forcing the issue.