Sprint Corp. on Thursday said it had commenced an offering of $1 billion in senior notes.

The company said it plans to use the proceeds from the offering for expanding its network and modernization, among other general corporate purposes.

The move comes almost three weeks after network monitor RootMetrics said that Sprint's network has improved a great deal in the past six months but that its performance and data speed still lag significantly behind rivals AT&T Inc., Verizon Communications Inc. and T-Mobile US Inc.

The offering also follows Sprint's recent $1.9 billion write-down of the value of its brand name earlier this month.

New Chief Executive Marcelo Claure is leading Sprint through a turnaround period after posting a several losses in recent years as customers have left its network.

In the most recent quarter, Sprint slowed down its losses of retail postpaid subscribers, which are considered the most lucrative customers in the industry.

The company is also looking to partner with Standard General LP to take over as many as 2,400 stores from failing electronics retailer RadioShack Corp.

Write to Michael Calia at michael.calia@wsj.com

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