Sprint Announces Pricing of $1.5 Billion Senior Notes Offering
February 19 2015 - 7:01PM
Business Wire
Sprint Corporation (NYSE:S) announced today that it has priced
an underwritten public offering of $1,500,000,000 aggregate
principal amount of 7.625% notes due 2025. The sale of the notes is
expected to close on Feb. 24, 2015.
Sprint intends to use the net proceeds from the offering for
general corporate purposes, which may include, among other things,
working capital requirements, retirement or service requirements of
outstanding debt and network expansion and modernization.
The joint book-running managers for the offering are Citigroup
Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan
Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Barclays Capital Inc., Credit Agricole Securities
(USA) Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank
Securities Inc., Mitsubishi UFJ Securities (USA), Inc., Mizuho
Securities USA Inc., RBC Capital Markets, LLC, Scotia Capital (USA)
Inc. and SMBC Nikko Securities America, Inc.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state.
These securities are being offered pursuant to an effective
shelf registration statement that has been filed with the
Securities and Exchange Commission, and a preliminary prospectus
supplement and accompanying prospectus describing the terms of the
offering have been filed with the Securities and Exchange
Commission. You may obtain a preliminary prospectus supplement and
prospectus by visiting EDGAR on the SEC website at
http://www.sec.gov or by contacting Citigroup Global Markets Inc.
at c/o Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 111717, emailing prospectus@citi.com or calling toll
free 1-800-831-9146; Goldman, Sachs & Co. at Attn: Prospectus
Department, 200 West Street, New York, NY 10282, emailing
prospectus-ny@ny.email.gs.com, calling 1-212-902-1171 or faxing
1-212-902-9316; J.P. Morgan Securities LLC at Attn.: HY Syndicate,
383 Madison Avenue, 3rd floor, New York, NY 10179 or calling
collect 1-212-834-4533; or Merrill Lynch, Pierce, Fenner &
Smith Incorporated at Attn.: Prospectus Department, 222 Broadway,
11th Floor, New York, NY 10038, emailing
dg.prospectus_requests@baml.com or calling toll free
1-800-294-1322.
About Sprint
Sprint is a communications services company that creates more
and better ways to connect its customers to the things they care
about most. Sprint served nearly 56 million connections as of
December 31, 2014, and is widely recognized for developing,
engineering and deploying innovative technologies, including the
first wireless 4G service from a national carrier in the United
States; leading no-contract brands including Virgin Mobile USA,
Boost Mobile, and Assurance Wireless; instant national and
international push-to-talk capabilities; and a global Tier 1
Internet backbone. Sprint has been named to the Dow Jones
Sustainability Index (DJSI) North America for the past four
years.
Cautionary Note Regarding Forward-Looking Statements
This news release includes “forward-looking statements” within
the meaning of the securities laws. The statements in this news
release regarding Sprint Corporation’s current expectations and
beliefs as to the consummation of the offering of notes and uses of
proceeds thereof, as well as other statements that are not
historical facts, are forward-looking statements. Forward-looking
statements are estimates and projections reflecting management's
judgment based on currently available information and involve a
number of risks and uncertainties that could cause actual results
to differ materially from those suggested by the forward-looking
statements. All information set forth in this release is as of
February 19, 2015. Sprint Corporation does not intend, and
undertakes no duty, to update this information to reflect future
events or circumstances. Information about certain potential
factors that could affect our business and financial results and
cause actual results to differ materially from those expressed or
implied in any forward-looking statements are included from time to
time in our filings with the Securities and Exchange Commission,
including Part I, Item 1A “Risk Factors” of our Transition Report
on Form 10-K for the period ended March 31, 2014.
Sprint CorporationInvestor Contact:Jud Henry,
800-259-3755Investor.Relations@sprint.comorMedia
Contact:Scott Sloat, 240-855-0164Scott.Sloat@sprint.com
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