[Techtaffy Newsdesk]

Sprint Nextel says it intends to redeem a portion of fourth quarter 2013 debt maturities with an aggregate principal amount of $1 billion on June 8, 2012. The securities comprising the partial debt retirement are the Nextel Communications, Inc. 6.875% Notes due 2013.

The Notes will be redeemed at par, plus accrued and unpaid interest until the redemption date. After this partial retirement, the remaining outstanding principal balance of such Notes will be approximately $473 million.