0
Wireless

Sprint uses leased equipment to raise USD 2.2 bln

Thursday 7 April 2016 | 09:36 CET | News
Sprint has signed an agreement with Network LeaseCo for the sale and leaseback of some of its network assets. The deal involves Sprint using the leased-back assets as collateral to raise USD 2.2 billion in borrowing from parent company SoftBank and other external investors. The assets, which consist mainly of mobile tower equipment, have a book value of approximately USD 3 billion. The operation will bring down the company's cost of capital to the mid-single digits. The carrier will pay back the proceeds in staggered payments through January 2018. 

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: Softbank / Sprint
Countries: United States
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Sprint raises USD 1.5 billion in debt offering

Published 21 Feb 2018 16:57 CET | United States
Sprint has raised USD 1.5 billion in a new debt offering. The offering was increased from an initial USD 1 billion after strong ...

Sprint improves postpaid customer growth, Q2 revenues stable

Published 25 Jul 2016 14:07 CET | United States
Sprint reported a further improvement in underlying results in its fiscal first quarter to June, adding 173,000 new postpaid ...

Sprint returns to FY operating profit

Published 03 May 2016 14:58 CET | United States
US mobile operator Sprint reported a strong finish to its fiscal year to March, exceeding its annual guidance and reporting its ...

Sprint uses leased equipment, bridge to raise USD 3 bln

Published 29 Apr 2016 16:59 CET | United States
Sprint has upped its liquidity by over USD 3 billion after signing a new deal with Mobile Leasing Solutions (MLS) for the sale ...

Sprint forecasts strong EBITDA improvement in coming year

Published 26 Jan 2016 14:52 CET | United States
Sprint reported a USD 8.11 billion operating revenue in its fiscal third quarter to 31 December 2015, compared with USD 8.97 ...

Sprint finalises network overhaul, cost-saving plan - report

Published 18 Jan 2016 18:22 CET | United States
Sprint has finalised plans for a major overhaul of its mobile network that is expected to save the operator up to USD 1 billion, ...

Sprint to raise USD 1.2 bln by selling, leasing back devices

Published 20 Nov 2015 17:53 CET | United States
Sprint has signed an agreement with newly formed Mobile Leasing Solutions for the sale and lease-back of certain leased devices. ...

Softbank reduces bridge loan for Sprint takeover

Published 12 Mar 2013 23:49 CET | Japan
Japanese communications provider Softbank will reduce the maximum amount of borrowing under the bridge loan agreement for the ...