Tuesday, May 29, 2012

Reuters: Technology News: Sprint arranges $1 billion credit to buy Ericsson gear

Reuters: Technology News
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Sprint arranges $1 billion credit to buy Ericsson gear
May 29th 2012, 14:29

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Analysis & Opinion

A woman talks on her phone as she walks past T-mobile and Sprint wireless stores in New York July 30, 2009. REUTERS/Brendan McDermid

A woman talks on her phone as she walks past T-mobile and Sprint wireless stores in New York July 30, 2009.

Credit: Reuters/Brendan McDermid

NEW YORK | Tue May 29, 2012 10:29am EDT

NEW YORK (Reuters) - Sprint Nextel said on Tuesday that it had arranged a credit facility of $1 billion to buy network equipment from Ericsson for its high-speed wireless project.

The No. 3 U.S. mobile provider said it entered the credit agreement, which expires in March 2017, with Deutsche Bank and a syndicate of other banks.

(Reporting By Sinead Carew; editing by John Wallace)

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