31
Jan

Sprint Announces Pricing of $1.0 Billion Guaranteed Notes Offering

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Sprint Corporation (NYSE:S) announced today that it has priced its previously announced offering of $1.0 billion aggregate principal amount of 7.250% guaranteed notes due 2028. The notes will be guaranteed on a senior basis by Sprint Communications Inc., which guarantee will in turn be guaranteed on a senior subordinated basis by each of the company’s wholly-owned subsidiaries that guarantees its existing credit agreement. The sale of the notes is expected to close on February 3, 2020, subject to customary closing conditions.

Sprint intends to use the net proceeds from the offering to refinance debt.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The notes and the related guarantees will be offered only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act of 1933, as amended (the “Act”) and outside the United States, to non-U.S. persons in reliance on the exemption from registration set forth in Regulation S under the Act. The notes and the related guarantees have not been and will not be registered under the Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

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