Speaking at the Barclays Capital High Yield Bond And Syndicated Loan Conference on Tuesday, Euteneuer said that the carrier is "on track" to close as much as $3 billion in funding from three separate infrastructure vendors.
"We just went out and got $2 billion ... the goal would be to complete the vendor financing, we're still in the range of $1 billion to $3 billion," Euteneuer confirmed. "We said it was a second-quarter exercise and we're still on track for that."
Why this matters Analysts at Mizuho Securities USA Inc. estimated in January that Sprint needs $3 billion to complete its ambitious "Network Vision" upgrade and move to LTE. More recently, analyst Craig Moffett at Sanford C. Bernstein & Co. Inc. has said that the operator may even be a bankruptcy risk.
- Sprint: A Bankruptcy Risk?
- Sprint Needs $3B to Fufill Its 'Network Vision'
- Sprint to Raise $2B
- Sprint Keeps Clearwire (& Unlimited) Alive
— Dan Jones, Site Editor, Light Reading Mobile