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Sprint uses leased equipment, bridge to raise USD 3 bln

2016-04-29 16:59:00| Telecompaper Headlines

(Telecompaper) Sprint has upped its liquidity by over USD 3 billion after signing a new deal with Mobile Leasing Solutions (MLS) for the sale and lease-back of certain leased devices. Arranged by Mizuho Securities, the transaction is expected to provide the company with about USD 1.1 billion in cash proceeds. Sprint has also signed an 18-month bridge financing facility arranged by Mizuho Bank, providing USD 2 billion of additional liquidity. These transactions, in addition to the USD 2.2 billion of network-related financing that was announced earlier this month, improved the company's liquidity position by more than USD 5 billion in April.

Tags: equipment usd bridge raise

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