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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
05/22/201517:13:21Statement of Changes in Beneficial Ownership (4)
05/22/201517:12:29Statement of Changes in Beneficial Ownership (4)
05/22/201517:11:39Statement of Changes in Beneficial Ownership (4)
05/22/201517:11:11Statement of Changes in Beneficial Ownership (4)
05/22/201517:10:19Statement of Changes in Beneficial Ownership (4)
05/22/201517:08:58Statement of Changes in Beneficial Ownership (4)
05/22/201517:08:32Statement of Changes in Beneficial Ownership (4)
05/22/201517:07:09Statement of Changes in Beneficial Ownership (4)
05/22/201517:04:55Statement of Changes in Beneficial Ownership (4)
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05/20/201518:50:00Sprint Names Kevin Crull Chief Marketing Officer
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05/19/201513:09:00Sprint Network Receives Shared #1 Ranking for Reliability, Call...
05/18/201512:14:00Sprint CFO Joe Euteneuer to Speak May 19 at 43rd Annual J.P...
05/18/201509:06:00Sprint Expands Direct 2 You Availability to Include New Customers...
05/17/201517:35:02Sprint, Verizon, Join AT&T and T-Mobile in Paying Fines Over...
05/15/201514:28:00Sprint Expands Free Data Roaming to Colombia, Denmark, Honduras...
05/15/201514:00:00Enhanced Virgin Mobile Data Done Right Multi-line Plans Now Offer...
05/15/201510:45:00No One Beats Sprint for Call and Text Performance in Sarasota...

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