Sprint Nextel Gains After Announcing Debt Retirement


Sprint Nextel Corporation (NYSE: S) gains 4% to $2.60 in the morning hours after the company announced today the early retirement of first quarter 2012 debt maturities with an aggregate principal balance of $2.25 billion.

The securities comprising the $2.25 billion of debt retirements are $250 million of Sprint’s $750 million Export Development Canada Facility and $2 billion of Sprint Capital Corporation 8.375% Notes due 2012.

The Export Development Canada Facility was prepaid at par on Nov. 23, 2011. The Sprint Capital Corporation 8.375% Notes due 2012 have been elected to be redeemed in full on Dec. 29, 2011, under optional redemption provision. These securities represent all of our scheduled note and loan maturities for 2012.

Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Sprint is a communications company offering a range of wireless and wireline communications products and services for individual consumers, businesses, government subscribers and resellers.

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