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Sprint Nextel to Raise $750M in Notes Offering; Buy Wireless Assets
Reston, Va. -- Sprint Nextel, the Reston-based wireless giant, said on Thursday that it will raise $750 million through a public debt offering. The floating rate notes are due in 2010. Sprint Nextel said that it plans to use the proceeds of the offering, which is scheduled to close on June 28, for general corporate purposes. Sprint Nextel also said that it has agreed to acquire certain assets from Indianapolis-based Bell Industries for $13.5 million. The assets include equity interests in companies that hold FCC licenses to operate wireless services in certain bandwidths, and were originally acquired by Bell as part of its purchase of SkyTel. The deal is expected to close in 45-90 days.
- Saved By: Beamer
- Tags: buy , nextel , sprint , wireless , notes offering , wireless assets , public debt offering , sprint nextel , and raise
- Groups: US Business, Telecom, and Wireless.
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