America’s number three wireless operator Sprint Corporation is plotting a two-tranche bond offering. The senior unsecured notes will be sold in a private placement and are set to mature in 2021 and 2023.
Sprint said it may use the funds raised to…
America’s number three wireless operator Sprint Corporation is plotting a two-tranche bond offering. The senior unsecured notes will be sold in a private placement and are set to mature in 2021 and 2023.
Sprint said it may use the funds raised to redeem or service outstanding debt, and for network expansion and upgrades. A spokesman would not disclose any further details.
The company had net debt of US$17.7bn as of 30 June.
The offering would be the Kansas-based operator’s first bond issue since its takeover by Japan’s Softbank, and its takeover of Clearwire Corporation. Both transactions closed in July.
The newly-capitalised Sprint has market leaders AT&T and Verizon Wireless in its sights as it sets about growing its subscriber base.
