Sprint Corporation (NYSE:S) has signed its second deal with Mobile Leasing Solutions, LLC (MLS) for the sale and lease-back of certain leased devices, the company said.
Arranged by Mizuho Securities, Co., LTD, this transaction is expected to provide the company with approximately USD1.1 billion in cash proceeds.
In a separate transaction, the company signed an 18-month bridge financing facility arranged by Mizuho Bank, LTD, providing USD2 billion of additional liquidity.
These transactions, in addition to the USD2.2 billion of network-related financing that was announced earlier this month, have improved the company´s liquidity position by more than USD5 billion in April.
The 18-month bridge financing facility was arranged by Mizuho Bank, LTD and provides Sprint with USD2 billion of liquidity as the company continues to execute its turnaround initiatives, densify and optimize its network, and progress towards other financing transactions in the future. The bridge facility contains a feature that permits the company to add up to USD500 million in additional commitments.