OVERLAND PARK, Kan. (BUSINESS WIRE), October 24, 2013 – Sprint Corporation (NYSE: S) announced today that its wholly-owned subsidiaries, Clearwire Communications LLC and Clearwire Finance, Inc., have delivered notices of redemption to redeem in full both series of their 12% Senior Secured Notes due 2015 and their 12% Second-Priority Secured Notes due 2017, in each case on Dec. 1, 2013.
Each series of 12% Senior Secured Notes due 2015 will be redeemed at a redemption price equal to 103.0% of the aggregate principal amount thereof.
The 12% Second-Priority Secured Notes due 2017 will be redeemed at a redemption price equal to 100.0% of the aggregate principal amount thereof, plus the Applicable Premium (as defined below) as of the redemption date. The “Applicable Premium” means the greater of: (1) 1.0% of the principal amount of such notes; or (2) the excess of (i) the present value at the redemption date of (a) 106.0% of the principal amount of such notes, plus (b) all required interest payments due on such notes through Dec. 1, 2014 (excluding accrued but unpaid interest to the redemption date), computed using a discount rate equal to the Treasury Rate (as defined in the indenture pursuant to which such notes were issued) as of the redemption date plus 50 basis points; over (ii) the principal amount such notes.
Sprint offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 53 million customers at the end of the second quarter of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.