Sprint raising more money to repay current debts

11/08/2012 9:49 AM

05/16/2014 8:15 PM

Sprint Nextel Corp. said it is raising money by selling bonds to help repay some of its existing debts.

The Overland Park-based wireless phone company’s statement said the investment notes would be offered publicly and become due for repayment in 2022.

A filing with the Securities and Exchange Commission excluded details such as the amount of the notes to be sold, the interest rate they would pay or which of Sprint’s existing debts they would pay off.

The effort to raise money comes a day after Sprint said it agreed to buy part of the operations of U.S. Cellular Corp. for $480 million.

Sprint also recently raised $3.1 billion by selling notes that can be converted to shares of Sprint stock. The buyer was Tokyo-based SoftBank Corp., which has agreed to pay $20.1 billion for a 70 percent stake in Sprint.

Sprint shares were up 1 cent at $5.63 in morning trading.

| Mark Davis, mdavis@kcstar.com

Videos

Join the discussion

is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service