Sprint on Wednesday announced that it has signed a series of financing agreements with three major vendors- Nokia Networks, Samsung and Alcatel-Lucent with total worth of $1.8 billion to purchase 2.5 GHz network equipment and related services. The vendor financing includes a secured facility of $800 million from Nokia Networks maturing in June 2021, $750 million from Samsung maturing in Dec 2022 and $250 million from ALU maturing in Dec 2021.
According to Sprint, each of these three new facilities is guaranteed by both Sprint Corporation and Sprint Communications. Sprint also announced that it has amended its financing terms with Ericsson, covering a deal worth $1 billion in purchases of network equipment and related services. In addition, Sprint noted that ALU was also instrumental in arranging a $300 million incremental facility from Export Line Canada (EDC).
Joe Euteneuer, Sprint’s Chief Financial Officer
These deals provide Sprint with greater flexibility and liquidity options as we focus on growing the business and investing in our network.
