Sprint Capital Corp.

, a unit of long-distance provider

Sprint

(FON)

, is planning a $2 billion global senior unsecured debt offering that will be unconditionally guaranteed by the parent company.

Salomon Smith Barney

and

UBS Warburg

will jointly lead manage the offering, which the telecom company will use to refinance short-term debt.

The securities will be issued from an existing debt shelf registration statement already filed with the

Securities and Exchange Commission

.