Sprint issuing more debt, possibly to finance 4G buildout

Sprint (S +1.3%) plans to sell debt due in 2024 through a private offering. No offering size has yet been given. The #3 U.S. carrier says it will use the proceeds for "general corporate purposes, which may include, among other things, retirement or service requirements of outstanding debt and network expansion and modernization." (PR)

Sprint already had $33.6B in debt at the end of Q3, to go with $10.7B in cash/investments. In July, 78% owner SoftBank promised Sprint would spend $16B in capex over the next two years, as it races to neutralize Verizon/AT&T's 4G coverage edge.

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