The
company, majority owned by Japan's SoftBank Group <9984.T>,
estimates the airwaves are worth about $16.4 billion.
The spectrum portfolio, which includes FCC licenses and a small
number of third-party leased license agreements, would be leased
back, the company said.
The offering is expected to be rated investment grade by Moody's
Investors Service and Fitch, Sprint said.
The carrier has been burning through cash as it faces intense
competition for subscribers. The company had negative cash flow
of $3.17 billion in the financial year ended March 31.
Sprint raised $1.2 billion in November and $2.2 billion in April
through similar sale and lease-back deals.
Wall Street Journal first reported Sprint's plan on Tuesday.
(http://on.wsj.com/2dbjNXQ)
(Reporting by Abinaya Vijayaraghavan and Nayyar Rasheed in
Bengaluru and Sriraj Kalluvila; Editing by Amrutha Gayathri)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
![](column_spacer.png) |
|