OVERLAND PARK, Kan., March 14, 2018 /PRNewswire/ -- Sprint Corporation (NYSE:S) announced today that three wholly owned special purpose subsidiaries (the "Issuers") have priced an offering (the "Offering") of $3,937,500,000 wireless spectrum-backed notes consisting of approximately $2.1 billion of Series 2018-1 4.738% Senior Secured Notes, Class A-1 (the "Class A-1 Notes"), and $1.8 billion of Series 2018-1 5.152% Senior Secured Notes, Class A-2 (the "Class A-2 Notes," and, together with the Class A-1 Notes, the "Notes"), in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). The Class A-1 Notes and Class A-2 Notes are being issued at par, and provide for interest-only periods followed by quarterly amortization payments beginning on June 20, 2021 and June 20, 2023, weighted average lives of approximately 5.1 and 7.6 years and "anticipated repayment dates" of March 20, 2025 and March 20, 2028, respectively. The Offering is expected to close on March 21, 2018.
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