Clearwire Plans to Sell at Least $1.1 Billion of Debt
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Clearwire Corp., the high-speed wireless network carrier 54-percent owned by Sprint Nextel Corp., said it plans to sell at least $1.1 billion of debt after saying last month it may not have enough funding to keep operating.
“In terms of Sprint, we believe this is the best resolution one could hope for,” Jennifer Fritzsche, a Wells Fargo & Co. analyst in Chicago, wrote in a note to clients. “It does not have to put up capital at this time - which had been a huge concern for investors -- but has the right to keep its ownership stake down the road.”