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Sprint Raises Additional $3 Billion Through Asset Sale & Leaseback Deal

Sprint Raises Additional $3 Billion Through Asset Sale & Leaseback Deal Image Credit: Sprint

Sprint has raised more than $3 billion through equipment sales and loans, bringing the operator's new funding to $5 billion this month. The operator has already secured $2.2 billion from SoftBank network funding deal that was announced earlier this month.

The fourth largest mobile operator in the US signed its second deal with Mobile Leasing Solutions for the sale and lease-back of certain leased devices that will give the operator approximately $1.1 billion in cash proceeds. In a separate transaction, the company signed an 18-month bridge financing facility arranged by Mizuho Bank providing $2 billion of additional liquidity. 

The financing deals are expected to provide the company sufficient funding to execute its turnaround initiatives, densify and optimize its network, and progress towards other financing transactions in the future.

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Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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