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Sprint has something up their sleeves. Today, they announced that they would be seeking somewhere around $2 billion from investors to help pay off their debts, fund general operations, and continue financing Clearwire while expanding their own network. While some would argue they could get the money the old fashioned way — you know, by actually making it themselves — it makes us wonder if Sprint doesn’t have something else up their sleeve. Remember last week when Sprint’s board abruptly cancelled their buyout of MetroPCS? Something is definitely a brewing up at Sprint HQ and maybe it will finally be revealed on March 1st, when Sprint CEO Dan Hesse gives his first ever Mobile World Congress keynote. I’m guessing some new devices from ZTE are in the cards, given their president will be joining Mr. Hesse live onstage. Tune it to find out!
Sprint Announces Private Placement of Notes
OVERLAND PARK, Kan. (BUSINESS WIRE), February 27, 2012 – Sprint Nextel Corp. (NYSE: S) announced today that it plans to offer approximately $2 billion in aggregate principal amount of notes due 2020 (the “2020 Notes”) and notes due 2017 (the “2017 Notes” and, together with the 2020 Notes, the “Notes”) in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the “Act”). The 2020 Notes will be guaranteed by the company’s wholly-owned subsidiaries that guarantee its existing credit agreements.
The company intends to use the net proceeds from the offering of the Notes for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire Corporation and its subsidiary Clearwire Communications LLC.
The Notes and the guarantees related to the 2020 Notes have not been registered under the Act or the securities laws of any other place and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. The Notes will be offered only to qualified institutional buyers under Rule 144A and to persons outside the United States under Regulation S.
Sprint CEO Dan Hesse to Speak March 1 at GSMA Mobile World Congress 2012 in Barcelona
OVERLAND PARK, Kan. (BUSINESS WIRE), February 27, 2012 – Sprint (NYSE:S) CEO Dan Hesse will deliver a keynote address at GSMA Mobile World Congress (MWC) 2012 in Barcelona, Spain, marking the first time a Sprint CEO will address the wireless conference. Hesse will deliver remarks on March 1 at 9:30 a.m. CET in a session titled “Driving the Mobile Technology Revolution.”
Recognized as the world’s premiere wireless conference, MWC 2012 will convene an international group of wireless industry leaders, along with leading media and analysts, to examine the opportunities and challenges that will redefine the wireless future. More than 60,000 people from 200 countries are expected to attend this year’s conference.
“We are very pleased to have Dan Hesse joining us for the first time at Mobile World Congress 2012 in Barcelona,” said Michael O’Hara, Chief Marketing Officer, GSMA. “As a new LTE carrier and one of the leading players in the U.S. wireless industry, Hesse has a unique perspective on mobile today and in the future. The unparalleled line up of keynote speakers at Mobile World Congress reflects more than ever the continued expansion of the mobile ecosystem.”
Joining Hesse during the keynote session on March 1 are Warren East, CEO, ARM; Kevin Johnson, CEO, Juniper Networks; and Shi Lirong, President, ZTE.
Need something. I feel like I am on a sinking ship.
Feel the same way. =(
fucking switch already chris. even u hate that joke network. i get that its unlimited but remember its at joke speeds. come on u live at home u gotta have money
Yeah.. You’re right. I’ve been dwelling on it for awhile now. Think I will just make the switch and pick up the money somewhere else (buy less v-necks or socks every month).
Unlimited data doesn’t do me much good when it’s at 600Kbps =/
lol less v necks and socks
omg the horror u deal with
Huh, don’t you make money off the site?
lol @ you for even asking
you get 600kbps? lucky. im lucky to get 100.
i hate sprint. tmo or verizon soon
He is going to give a speech about how they failed.
Hesse needs to get his ass in gear and release the G-Nex already. this is starting to get ridiculous.
Releasing the Galaxy Nexus without LTE in at least a couple markets would be more disastrous than delaying the release.
Won’t happen until LTE goes live in the 4 pilot cities. Otherwise, all you little internet bitchers will be bitching about that.
Sprint needing $$$ desperately is not news. I don’t think it necessarily implies some big plan at work.
Wow, I had no idea we had such experts on the matter! Somebody call Sprint! They need to hire this guy! He clearly has a better idea of what they should be doing.
Point-toby
Is sprint going to die off before tmobile does? How long before verizon tries to buy them?
LOL!!! This Clear wire debacle is going to be the end of Sprint if they don’t cut the cord now. Its amazing it hasn’t destroyed them already. I’m all for Sprint digging themselves in so deep that Verizon can come in and snatch them up.
Won’t happen. You think they would be allowed to buy Sprint when AT&T wasn’t allowed to buy T-Mobile?
sprint isnt going to dig themselves that deep. They are going to come back up and possibly even surpass verizon it is just going to take time to get the 4g network running and get the data speeds up.
At that point there wont be any reason to stay on another network
If WiMax hadn’t been such a flop it wouldn’t seem like Sprint is going down. VZ needs to takeover Sprint and AT&T can have T-Mo. I could care less about costs at this point. I’d rather have >500Kbps
having only two carriers to choose from though could be disastrous and could quickly become monopolistic
Obviously, but at this point I’d rather have an actual working connection over Sprint’s failure.
But you wouldn’t have any phone or service because it would be way over priced.
speak for your self moron.
You’re cool.
that’s dumb
You will, when network vision is completed. See above at my other posts.
those of you thinking sprint is going under way off the mark. go ahead, leave. C-YA!! but you will be crawling back all in due time…
I am still dragging along with my evo 3d in indianapolis indiana with 3g service
they have told me we would get 4g so I bought the evo 4g
they said okay it’s a year late but we are getting it I bought the evo 3d
they said okay it’s two years late and we are getting lte first then 4g
wait wut…
then they say just get the g-nexus so you can run 4glte
then it comes out why and how wimax failed
then they bail clear wire out
clearwire gets f*cked by the fcc (kinda, that whole thing was sketchy)
still no plans on lte
I have no plans on buying an lte phone because of another promise of
a new exciting network
(i’m not saying you are wrong but some of us sprint customers have had a hard go of things here on the not so now network)
I hope you are right tho I plan on sticking to unlimited non metered data
but I can only handle so much….
You are not alone in being duped by sprint. i bought the Evo 4g, however new york did roll out Wimax a few months later. Only problem is that i got good speeds for a few months. After about 6 months my 4g speeds were barely faster than my crap 3g speeds. Now i never even use 4g and im skeptical about my LTE being throttled.
Sprint does not throttle data, they have publicly said this multiple times. Come on’
i dunno.. maybe, what i do know is i’m getting pretty tired of the “tomorrow network.” Crap 3g speeds, 4g speeds as slow as my 3g speeds. I NEVER even use it its so slow. So excuse me if im skeptical that my 4g lte won’t be throttled as well.
Sprint is deploying 4G LTE Advanced Revision 10 – it will be the msot advanced network in the country. I’m pretty sure Sprint is tired of hearing Verizon has a better network too and to be quite frank, so am I… Network Vision, as Sprint has stated, is aimed to be the most advanced network in the country. Just give them a chance.
I ain’t leaving… Yet. Been with Sprint for 10 years. And the other guys are too expensive. But, if they keep during services and or raising prices to that equal of other providers, I will go get 4 dumb phones with no data, or no cell phones at all. I already pay $220 a month for 4 phones. That’s $2600 a year … Ridiculous.
You guys get 600 and 100Kbps?! I’m lucky to get 60Kbps (sometimes even just 20Kbps) and 3 bars in the middle of the city! One time I got 147Kbps, that was awesome.