Sprint taps bond market for debt refinancing, Clearwire funds

08/9/2012 | Bloomberg Businessweek

Sprint Nextel has issued a series of eight-year bonds worth $1.5 billion that the carrier may earmark for refinancing debt, building its Long-Term Evolution network and putting more cash into wireless partner Clearwire, according to a government regulatory filing. The bonds were rated B3 -- six ranks under investment grade -- by Moody's Investors Service.

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