Sprint Asks For $2 Billion From Investors – CEO Dan Hesse To Give MWC Keynote March 1st
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.