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Sprint Nextel Reduces Debt
Press Release posted by Michelle Ruhfass on Monday November 16, 2009.
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Nov. 16, 2009-- Sprint Nextel Corp. (NYSE: S) today announced that it paid down $1.0 billion of the outstanding loan amount under its $4.5 billion revolving credit facility. With this action Sprint Nextel no longer has an outstanding balance.
At the end of the third quarter 2009, Sprint had $5.9 billion in cash, cash equivalents and short-term investments and $1.6 billion in borrowing capacity available under its revolving bank credit facility, for total liquidity of $7.5 billion.
ABOUT SPRINT NEXTEL
Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel is widely recognized for developing, engineering and deploying innovative technologies, including two wireless networks serving more than 48 million customers at the end of the third quarter of 2009 and the first and only 4G service from a national carrier in the United States; industry-leading mobile data services; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The company's customer-focused strategy has led to improved first call resolution and customer care satisfaction scores. For more information, visit www.sprint.com.About the author
Michelle Ruhfass
Michelle is MobileBurn.com's Managing Editor, and is responsible for sourcing devices for reviews.
