Boston, MA 05/19/2014 (wallstreetpr) – One of the emerging leaders in the wireless and communications sector, Sprint Corporation (NYSE:S) has revolutionized the experience of mobility among the consumers. Sprint in the recent quarters have contributed significantly towards innovating its product line and catering to the ever growing demands of the consumers. With an aim to boost its business growth and profits of the stakeholders, it has entered into multiple agreements and ventures. Additionally in order to provide an insight into its business strategies, it has also made announcement to participate in the recent conference that are line up to take place in coming weeks.
Nailed a new facility agreement
Sprint Corporation (NYSE:S) has recently disclosed that the company along with its subsidiaries has entered into a new facility agreement with the Bank of Tokyo-Mitsubishi UF J, Ltd. The worth of the agreement is approximately $1.3 billion, and it is based on the securitization of the company’s wireless service accounts receivable. Apart from the Bank of Tokyo, Sumitomo Mitsui and Mizuho Bank is involved.
The agreement fosters a facility that is aimed towards providing supplemental facilities for fulfilling the needs arising from general corporate operations. The receivables are scheduled to be sold off from May 16, 2014 on a revolving basis as per the term of the agreement. The period for selling the receivables is expected to end on May 16, 2016. Sprint is expecting a boost on its financial front from the present alliance.
Update on upcoming Conferences
Sprint Corporation (NYSE:S) is all geared up to participate in the 42nd Annual J.P. Morgan Global Technology Conference that is scheduled to take place today at 8:20 a.m. The company has selected Joe Euteneuer, Chief Financial Officer of Sprint as the representative, who will speak on behalf of the company. Sprint will forecast a live webcast of the presentation of its CFO that can be accessed through its official website. A replay of the same will be provided shortly after the conclusion of the presentation.
