Sprint closes $2.1 billion vendor financing with Nokia Networks, Samsung and Alcatel-Lucent
Sprint has signed a series of financing agreements worth a total of $1.8 billion to purchase 2.5GHz network equipment.
The vendor financing includes a secured facility of $800 million from Nokia Networks, $750 million from Samsung and $250 million from Alcatel-Lucent. In addition, Alcatel-Lucent was instrumental in arranging a $300 million incremental facility from Export Development Canada (EDC).
Sprint has also amended the terms of a credit facility used to finance $1 billion worth of equipment purchases from Ericsson.
“These deals provide Sprint with greater flexibility and liquidity options as we focus on growing the business and investing in our network,” said Joe Euteneuer, Sprint’s CEO.
According to Sprint, each of these three new facilities is guaranteed by both Sprint Corporation and Sprint Communications.