WSJ: Dish Inches Closer To Sprint Deal Financing

by Staff Report 0

WSJ reports that Dish Network Corp. has moved one step closer to organizing $9 billion in committed funding for its $25.5 billion bid for Sprint Nextel Corp., according to people familiar with the matter. Dish obtained signed commitment letters from five banks, including Barclays Bank and Jefferies & Co., the people said, plus around $2.6 billion it raised in bonds last week.

dishsprintThe Wall Street Journal reports that Dish Network Corp. has moved one step closer to organizing $9 billion in committed funding for its $25.5 billion bid for Sprint Nextel Corp., according to people familiar with the matter. Dish obtained signed commitment letters from five banks, including Barclays Bank and Jefferies & Co., in addition to the $2.6 billion it raised in bonds last week. In total, Dish has now raised nearly $12 billion for the deal. The financing move has come just days after Sprint said it had agreed to enter talks with Dish regarding the bid, which is competing with a $20.1 billion deal struck last October by SoftBank to buy 70% of Sprint. Sprint and Dish plan to conclude these negotiations by the first week of June, people involved in the talks said.  Read more

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