(Telecompaper) Sprint has signed an agreement with newly formed Mobile Leasing Solutions for the sale and lease-back of certain leased devices. The operator expects the deal to deliver approximately USD 1.1 billion in cash as part of a total consideration of USD 1.2 billion. The transaction is expected to close in the first week of December. It is designed to immediately improve the company's liquidity position. Mobile Leasing Solutions was formed by equity investors including SoftBank. Brightstar is providing its lease management and tracking system and providing remarketing services. A forward purchase agreement is being finalised with Foxconn. Sprint said that it now expects USD 6.8 billion to USD 7.1 billion of Adjusted EBITDA in 2015, compared to its earlier target of USD 7.2 billion to USD 7.6 billion.