Sprint intends to price $1 billion 10-year bullet notes Thursday

By Paul A. Harris

Portland, Ore., Feb. 19 – Sprint Corp. set an investor conference call at noon ET on Thursday to roll out a $1 billion offering of non-callable 10-year senior notes (existing ratings B2/B+), according to a syndicate source.

The deal is set to price Thursday.

Citigroup Global Markets Inc., BofA Merrill Lynch, Goldman Sachs & Co., J.P. Morgan Securities LLC, Barclays, Credit Agricole CIB, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Mizuho Securities, MUFG, RBC Capital Markets, Scotia Capital and SMBC Nikko are the joint bookrunners for the public offering.

The notes feature a par call 90 days prior to maturity but are otherwise non-callable.

The Overland Park, Kan.-based telecom plans to use the proceeds for general corporate purposes, which may include, among other things, working capital, retirement or service of outstanding debt and network expansion and modernization.

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