February 27, 2012 / 3:00 PM / 6 years ago

Sprint offers $2 billion in notes

(Reuters) - Sprint Nextel Corp (S.N) plans to raise $2 billion in debt in a private transaction, the company said on Monday.

    Sprint, which is spending $7 billion on a network upgrade, said it would use the funds for general purposes, including its network upgrade or potential funding of Clearwire Corp CLWR.O, in which it already has a majority stake.

    The No. 3 U.S. mobile provider said the notes would be due in 2017 and 2020. Sprint already sold $4 billion in bonds in November to help it fill a funding gap for its network upgrade and its commitment to pay more than $15 billion to Apple Inc (AAPL.O) for their iPhone agreement.

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below