OVERLAND PARK, Kan.--(BUSINESS WIRE)--Nov. 16, 2009--
Sprint Nextel Corp. (NYSE: S) today announced that it paid down
$1.0 billion of the outstanding loan amount under its $4.5 billion
revolving credit facility. With this action Sprint Nextel no longer has
an outstanding balance.
At the end of the third quarter 2009, Sprint had $5.9 billion in cash,
cash equivalents and short-term investments and $1.6 billion in
borrowing capacity available under its revolving bank credit facility,
for total liquidity of $7.5 billion.
ABOUT SPRINT NEXTEL
Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel is widely recognized for
developing, engineering and deploying innovative technologies, including
two wireless networks serving more than 48 million customers at the end
of the third quarter of 2009 and the first and only 4G service from a
national carrier in the United States; industry-leading mobile data
services; instant national and international push-to-talk capabilities;
and a global Tier 1 Internet backbone. The company’s customer-focused
strategy has led to improved first call resolution and customer care
satisfaction scores. For more information, visit www.sprint.com.
Leigh Horner, 703-433-3044
Yijing Brentano, 800-259-3755