11.09.2013 18:20:48

Sprint Closes $2.25 Bln Senior Notes Offering - Quick Facts

(RTTNews) - Sprint Corp. (S) Wednesday said it has closed its previously announced offering of $2.25 billion aggregate principal amount of senior unsecured notes, consisting of 7.250 percent notes due 2021 and $4.25 billion aggregate principal amount of 7.875 percent notes due 2023.

Net proceeds from the offering will be available for general corporate purposes including redemptions or service requirements of outstanding debt and network expansion and modernization.

The company has also entered into a waiver pursuant to which the lenders waived until December 31, 2013 any default of the quarterly leverage compliance test under Sprint Communications' revolving credit facility that may otherwise result from the issuance of the notes.

On September 10, Sprint Communications entered into a another waiver under its Export Development Canada loan agreement. Corp. (S) Wednesday said it has closed its previously announced offering of $2.25 billion aggregate principal amount of senior unsecured notes, consisting of 7.250 percent notes due 2021 and $4.25 billion aggregate principal amount of 7.875 percent notes due 2023.

Net proceeds from the offering will be available for general corporate purposes including redemptions or service requirements of outstanding debt and network expansion and modernization.

The company has also entered into a waiver pursuant to which the lenders waived until December 31, 2013 any default of the quarterly leverage compliance test under Sprint Communications' revolving credit facility that may otherwise result from the issuance of the notes.

On September 10, Sprint Communications entered into a another waiver under its Export Development Canada loan agreement.

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