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Sprint Gets $1.2 Billion Lifeline From SoftBank Leasing Unit

  • Lowers Ebitda outlook as a result of the financing deal
  • Cash from lease-back sales can help with looming debt payments
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Sprint Corp. is taking $1.2 billion in financing from a phone leasing company created by majority owner SoftBank Group Corp. to help lower equipment costs and relieve pressure on the unprofitable carrier’s dwindling cash supply.

As a result of the deal, Sprint lowered its fiscal 2015 adjusted earnings before interest, taxes, depreciation and amortization to $6.8 billion to $7.1 billion, down from a previous range of $7.2 billion to $7.6 billion, according to a statement Friday.