Sprint (S) has decided to refinance $2.28B worth of debt. It's redeeming $1.17B worth of 5.95%...

|About: Sprint Corporation (S)|By:, SA News Editor

Sprint (S) has decided to refinance $2.28B worth of debt. It's redeeming $1.17B worth of 5.95% notes due 2014, and $1.11B worth of 7.375% notes due 2015, while issuing $2.28B worth of 6% notes due 2022. Many expect Sprint to use part of the $8B in proceeds it will get from the SoftBank (SFTBF.PK) deal to pare its $21B debt load. (PR)