Wireless Service - Account Receivables
2014: Sprint and certain of its subsidiaries have entered into a bank revolving credit facility agreement of up to $1.3 billion with The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent, based on the securitization of its wireless service accounts receivable.
Other banks involved in the facility are The Bank of Nova Scotia, Mizuho Bank, LTD., and Sumitomo Mitsui Banking Corporation.
The new facility is expected to provide supplemental liquidity for general corporate purposes.
The receivables are expected to be sold on a revolving basis throughout the term of the agreement beginning on May 16, 2014. The revolving period of the agreement is scheduled to end on May 16, 2016.