Sprint to Double Spectrum Leaseback Transaction Amount

Last October, Sprint announced its plan to sell $3.5 billion worth of spectrum and then lease that same spectrum to pay off “higher interest bearing loans.” This week, the company announced it will increase that transaction from $3.5 billion to $7.0 billion, reports Yahoo Finance.  

The initial spectrum leaseback deal was made to free up cash for the company and “ease some of the liquidity pressure on its balance sheet.” With this recent increase, the carrier is now planning to sell some 14 percent of its spectrum assets. Continue Reading