Sprint to raise $2.2 billion by selling and leasing back network assetsSprint has announced a plan to shore up its financial house by striking a deal to sell portions of its network assets for $2.2 billion and then lease them back. As part of the deal, Sprint says the transaction will see network assets shifted to several remote entities (referred to collectively as Network LeaseCo) to be used as collateral for loans. From Sprint: Network LeaseCo will acquire certain existing network assets and then lease them back to Sprint. The assets acquired by Network LeaseCo will be used as collateral to raise approximately $2.2 billion in borrowings from external investors, including SoftBank. The $2.2 billion of cash proceeds Sprint expects to receive from the transaction is scheduled to be repaid in staggered, unequal payments through January 2018. Sprint says that the assets that are part of the transaction, which carry a net value of around $3 billion, are mostly made up of networking equipment at cell towers. While a bit complicated, this is a pretty...<br clear='all'/>
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Sprint to raise $2.2 billion by selling and leasing back network assets
