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Sprint Nextel Enters $1 Billion Credit Facility For Equipment Financing

DOW JONES NEWSWIRES Sprint Nextel (S) said it entered a new $1 billion credit facility with Deutsche Bank AG (DB) and other lenders to fund equipment purchases from Ericsson (ERIC) as the telecommunications company continues efforts to build out its 4G LTE services. The Overland Park, Kan.-based carrier has been racing to catch up to larger rivals Verizon Wireless and AT&T Inc. (T) in building out the faster network known as 4G LTE. Sprint Nextel also said it plans to redeem part of its $1 billion in Nextel Communications notes that come due in the fourth quarter of next year. The company anticipates the remaining balance of the notes will be $473 million. Sprint Nextel in April reported a wider first-quarter loss, due in part to a charge from the planned shutdown of the Nextel platform, as subscriber additions helped increase the wireless carrier's revenue more than expected. Sprint shares were up 1.2% at $2.65 in recent trading. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com

Stock News for Sprint Nextel (S)
DateTimeHeadline
09/01/201513:30:00Mayor Emanuel and Sprint Announce More Than 1,000 New Jobs and...
08/31/201515:04:04Statement of Changes in Beneficial Ownership (4)
08/31/201515:03:10Statement of Changes in Beneficial Ownership (4)
08/31/201506:05:02Amended Statement of Beneficial Ownership (sc 13d/a)
08/27/201519:01:00Sprint, Taking Aim at AT&T, Offers DirecTV Subscribers Free Year...
08/27/201518:01:00Sprint, Taking Aim at AT&T, Offers DirecTV Subscribers Free Year...
08/27/201517:20:00Sprint Takes Aim at AT&T
08/27/201517:13:00Sprint, Taking Aim at AT&T, Offers DirecTV Subscribers Free Year...
08/27/201513:58:00Sprint is Celebrating the Merger of DIRECTV and AT&T: DIRECTV...
08/27/201513:31:26Statement of Changes in Beneficial Ownership (4)
08/26/201515:04:58Amended Statement of Changes in Beneficial Ownership (4/a)
08/25/201517:44:22Statement of Changes in Beneficial Ownership (4)
08/24/201510:25:00Sprint Direct 2 You Launches in Minneapolis/St. Paul, Orlando...
08/20/201519:26:30Statement of Changes in Beneficial Ownership (4)
08/19/201508:05:23Amended Statement of Beneficial Ownership (sc 13d/a)
08/18/201513:41:37Statement of Changes in Beneficial Ownership (4)
08/18/201510:00:00Available from Boost Mobile, ZTE Warp Elite Packs Big Features...
08/17/201519:15:27Statement of Changes in Beneficial Ownership (4)
08/17/201508:20:00Sprint Customers Can Upgrade Their iPhone Anytime, Included in...
08/12/201521:40:03SoftBank Increases Sprint Stake

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