Sprint Nextel to raise USD 4 bln for Clearwire funding

News Wireless United States 7 NOV 2011
Sprint Nextel to raise USD 4 bln for Clearwire funding
US operator Sprint Nextel is planning to offer USD 1 billion worth of notes due 2021 and USD 3 billion worth of notes due 2018. The sale will take place on 9 November, subject to customary closing conditions. The company intends to use the net proceeds from the offering for general corporate purposes. These may include, among other things, redemptions or service requirements of outstanding debt and network expansion, as well as the modernisation and potential funding of Clearwire and unit Clearwire Communications.

Categories:

Mobile

Companies:

Clearwire,  Nextel

Countries:

United States

Tags:

Corporate strategy, Financial funding

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