Sprint Corp (S.N) said it had signed a deal for the sale and leaseback of certain assets, which will provide the No. 4 U.S. wireless carrier with $2.2 billion in funding.
The assets bought by bankruptcy remote companies, or special purpose entities within the company, will be used as collateral to raise the money in borrowings from investors, including Sprint’s majority owner, Japan’s SoftBank Group Corp (9984.T).
(Reporting by Anya George Tharakan in Bengaluru)
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