OVERLAND PARK, Kan.,
Jan. 29, 2020 /PRNewswire/ -- Sprint
Corporation (NYSE: S) today announced that it has commenced an
offering of $1.0 billion aggregate principal amount of
guaranteed notes in a private transaction that is exempt from the
registration requirements of the Securities Act of 1933, as amended
(the "Act"), subject to market and other conditions. The
notes will be guaranteed on a senior basis by Sprint Communications
Inc., which guarantee will in turn be guaranteed on a senior
subordinated basis by each of the company's wholly-owned
subsidiaries that guarantees its existing credit agreement.
Sprint intends to use the net proceeds from the offering to
refinance debt.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
The notes and the related guarantees will be offered only to
persons reasonably believed to be qualified institutional buyers in
reliance on the exemption from registration set forth in Rule 144A
under the Act and outside the United
States, to non-U.S. persons in reliance on the exemption
from registration set forth in Regulation S under the Act.
The notes and the related guarantees have not been and will not be
registered under the Act or the securities laws of any other
jurisdiction and may not be offered or sold in the United States without registration or an
applicable exemption from registration requirements.
About Sprint
Sprint (NYSE: S) is a communications services company
that creates more and better ways to connect its customers to
the things they care about most. Sprint served 54.2 million
connections as of December 31, 2019
and is widely recognized for developing, engineering and deploying
innovative technologies, including the first wireless 4G service
from a national carrier in the United
States; leading no-contract brands including Virgin Mobile
USA, Boost Mobile, and Assurance
Wireless; instant national and international push-to-talk
capabilities; and a global Tier 1 Internet backbone. Today,
Sprint's legacy of innovation and service continues with an
increased investment to dramatically improve coverage, reliability,
and speed across its nationwide network and commitment to launching
a 5G mobile network in the U.S.
Cautionary Note Regarding Forward-Looking Statements
This news release includes "forward-looking statements" within
the meaning of the securities laws. The statements in this
news release regarding Sprint Corporation's current
expectations and beliefs as to the consummation of the offering of
notes and uses of proceeds thereof, as well as other statements
that are not historical facts, are forward-looking
statements. Forward-looking statements are estimates and
projections reflecting management's judgment based on currently
available information and involve a number of risks and
uncertainties that could cause actual results to differ materially
from those suggested by the forward-looking statements. All
information set forth in this release is as of January 29,
2020. Sprint Corporation undertakes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, except
as required by law. In addition, forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from our company's historical experience
and our present expectations or projections. Factors that might
cause such differences to include, but are not limited to, those
discussed in Sprint Corporation's Annual Report on Form 10-K
for the fiscal year ended March 31, 2019 and our Quarterly
Report on Form 10-Q for the period ended December 31, 2019.
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SOURCE Sprint