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Sprint To Retire $2.28B Of Debt Maturities

By TechTaffy Desk

[Techtaffy Newsdesk]

Sprint intends to redeem a portion of 2014 debt maturities with an aggregate principal amount of $1,169,886,500 on Nov. 19, 2012. The securities comprising this debt retirement are the Nextel Communications, 5.95 percent Notes due 2014.

The Company also intends to redeem the remaining portion of 2015 debt maturities with an aggregate principal amount of approximately $1,109,960,000 on Nov. 19, 2012. The securities comprising this debt retirement are the Nextel Communications, Inc. 7.375 percent Notes due 2015.

The 2014 and 2015 Nextel Notes will be redeemed at par, plus accrued and unpaid interest until the redemption date. After this retirement, no 2014 or 2015 Nextel Notes will remain outstanding.

The remaining outstanding principal balance of the Company’s 2013 and 2014 Note maturities is $300 million and $181 million, respectively.

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