Sprint (NYSE:S) announced today it intends to redeem a portion of 2014 debt maturities with an aggregate principal amount of $1,169,886,500 on Nov. 19, 2012. The securities comprising this debt retirement are the Nextel Communications, Inc. 5.95 percent Notes due 2014.
The Company also intends to redeem the remaining portion of 2015 debt maturities with an aggregate principal amount of approximately $1,109,960,000 on Nov. 19, 2012. The securities comprising this debt retirement are the Nextel Communications, Inc. 7.375 percent Notes due 2015.
The 2014 and 2015 Nextel Notes will be redeemed at par, plus accrued and unpaid interest until the redemption date. After this retirement, no 2014 or 2015 Nextel Notes will remain outstanding.
The remaining outstanding principal balance of the Company’s 2013 and 2014 Note maturities is $300 million and $181 million, respectively.
About Sprint Nextel
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served nearly 56 million customers at the end of the third quarter of 2012 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; offering industry-leading mobile data services, leading prepaid 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. The American Customer Satisfaction Index rated Sprint No. 1 among all national carriers in customer satisfaction and most improved, across all 47 industries, during the last four years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company.