Sprint Requests $2 Billion For Build Out

Coming off a sub-par Q4, Sprint announced yesterday that it is issuing 2 sets of notes payable in 2017 and 2020. The notes, which may be used to fund Clear for an additional period, or aid with the conversion of the current CDMA/WiMAX network to a CDMA/LTE network, will raise a $2 billion total for Sprint’s cash fund. This comes on the heels of Sprint’s $4 billion debt offering from November of last year.

The note’s terms have not been set yet, but Sprint should have to offer a very modest rate to continue to have investors risk funding the struggling company. Despite putting a positive spin on their financials from Q4, Sprint has a $15.5 billion commitment to Apple for the iPhone and an additional $29.5 billion in other payouts due before 2017.


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