Sprint Nextel closes $1 billion facility due 2017 with Deutsche Bank

By Ashley Montgomery

Kansas City, Kan., May 29 - Sprint Nextel has launched a new $1 billion credit facility maturing March 2017, according to a news release.

Deutsche Bank led a syndicate of other banks on the deal.

The facility will be used to purchase equipment purchases from Ericsson for Network Vision.

All of Sprint's subsidiaries are borrowers under the facility, which is secured by a lien on the Ericsson equipment, the release said.

Sprint Nextel is an Overland Park, Kan.-based telecommunications company.

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