Following yesterday’s announcement that US mobile operator Spring Nextel would offer US$2bn of notes, the company has now released details on the pricing.
The company said the US$1bn notes due 2017 priced at 9.125% and the US$1bn notes due 2020 priced…
Following yesterday’s announcement that US mobile operator Spring Nextel would offer US$2bn of notes, the company has now released details on the pricing.
The company said the US$1bn notes due 2017 priced at 9.125% and the US$1bn notes due 2020 priced at 7.0%. The 2020 notes will be guaranteed by the company’s subsidiaries that guarantee its existing credit agreements. The sale of the notes is expected to be completed on March 1, 2012, Sprint said.
Bank of America Merrill Lynch, Barclays, Citigroup, Deutsche Bank, Goldman Sachs and JP Morgan are bookrunners, according to reports.
Fitch rated the 2020 notes ‘BB/RR2’ and the 2017 notes ‘B+/RR4’.
