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Exclusive: Sprint Closer To $40 Billion-Plus T-Mobile Deal Financing - Sources

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A T-Mobile store sign is seen in Broomfield, ColoradoBy Soyoung Kim, Sophie Sassard and Michelle Sierra NEW YORK/LONDON (Reuters) - Sprint Corp has lined up eight banks to finance its proposed acquisition of T-Mobile US Inc, edging closer to a deal that would merge the third- and fourth-biggest U.S. mobile operators, according to people familiar with the matter. The debt package exceeds $40 billion and includes a bridge loan of roughly $20 billion from Japan's Softbank Corp to Sprint, as well as some $20 billion refinancing of T-Mobile's existing debt, the people said this week. Five global banks - JPMorgan Chase & Co, Goldman Sachs Group, Deutsche Bank AG, Bank of America Merrill Lynch and Citigroup Inc - have agreed to finance Sprint's proposal to acquire the smaller rival, the people said.




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