Sprint Arranged $1 Billion Credit To Buy Equipment From Ericsson

Posted on May 29 2012 - 4:16pm by Editorial Staff

Reuters reports that Sprint has arranged a credit facility of $1 billion in order to buy network equipment from Ericsson for its high-speed wireless project. The credit agreement expires in March 2017, with Deutsche Bank and a syndicate of other banks.

With the vendor financing agreement, spokesman Scott Sloat said Sprint has “largely addressed” funding requirements it flagged last year. Furthermore, Sprint also said the company would pay back $1 billion of debt set to mature in the fourth quarter of 2013.

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