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.
