Sprint Is Planning To Raise $500 Through Public Offering Of Senior Unsecured Notes

Sprint is planning to raise $500 million through a public offering which would go towards general business expenses.  This past Monday, Sprint filed the possibility of the fund raising with the SEC.  General business expenses also includes the acquisition of Virgin Mobile for $483 million.

Sprint would raise the funds by offering senior unsecured notes that would mature in August 2017.  The 8-year notes was given a BB rating by Fitch Ratings.  Sprint lost many subscribers last year, but all of their competitors gained subscribers.

However Sprint has the exclusive rights for selling the Palm Pre device and this helped the telecommunications company beat sales records.

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2. Sprint CEO Denies WSJ Claim That Palm Pre Will Be On Verizon By January
3. Sprint To Carry The BlackBerry Tour 9630 For $199 After 2 Year Contract Plus Rebate
4. Sprint Treo Pro Now Available For $199
5. Palm Treo Pro To Arrive In Sprint Stores March 15, $199 With 2-Year Contract