Sprint Subsidiaries Clearwire Communications LLC and Clearwire Finance, Inc. to Retire $175 million of 12% Second-Priority Secured Notes Due 2017
OVERLAND PARK, Kan.--(BUSINESS WIRE)-- Sprint Corporation (NYS: S) announced today that its subsidiaries have delivered a notice of partial redemption to redeem $175,000,000 aggregate principal amount of the 12% Second-Priority Secured Notes due 2017 issued by Clearwire Communications LLC and Clearwire Finance, Inc. (the "2017 Clearwire Notes") on Oct. 30, 2013.
The 2017 Clearwire Notes will be redeemed at a redemption price equal to 112.000 percent of the aggregate principal amount thereof, plus accrued and unpaid interest to, but excluding, the redemption date. This retirement equals 35 percent of the aggregate principal amount of the outstanding 2017 Clearwire Notes, and as a result, $325,000,000 or 65 percent of the aggregate principal amount of the Notes originally issued, will remain outstanding.
Sprint offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 53 million customers at the end of the second quarter of 2013 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 as the most improved company in customer satisfaction, across all 47 industries, during the last five 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. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
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