Sprint’s Efforts to Improve Liquidity and Diversify Funding Methods
First written in FY2016. 13 of 16 entries say "Advanced", first in FY2017-Q1. Latest entry: FY2021-Q1.
No other company in this theme has enough history to compare yet.
- FY2021-Q1DroppedAnnual report
「As a result, from that date Sprint ceased to be a subsidiary of the Company, and T-Mobile became an equity-method affiliate of the Company.」
The theme of improving Sprint-specific liquidity and diversifying funding sources ended as a management focus when Sprint ceased to be a subsidiary of the company upon completion of the merger. - FY2020-Q3AdvancedAnnual report
「The company’s wholly owned subsidiary Skywalk Finance G.K. borrowed US$4.37 billion using Alibaba shares.」
Additional borrowings using Alibaba shares and advance financing in preparation for bond redemptions were executed, advancing the diversification of funding sources and increasing available cash. - FY2020-Q2AdvancedAnnual report
「SoftBank Group Corp. issued a total of ¥1 trillion in domestic straight bonds for refinancing purposes.」
SoftBank Group Corp. issued a total of ¥1 trillion in domestic straight bonds as advance financing in preparation for bond redemptions. - FY2020-Q1AdvancedAnnual report
「During the first quarter, Sprint entered into a sale-and-leaseback transaction for its headquarters, including the buildings and land it owned. The transaction was executed in July 2019.」
Sprint entered into a sale-and-leaseback agreement for its headquarters assets, putting its funding strategy into practice. The sale was completed on 9 July 2019. - FY2019-Q3AdvancedAnnual report
「As part of its financial improvement measures, in January 2019 the company repaid a portion of borrowings (US$4.37 billion) secured by Alibaba shares held by its wholly owned subsidiary Skywalk Finance G.K., and purchased a portion of its foreign-currency-denominated straight bonds (US$410 million and €520 million).」
Using the proceeds from the listing of SoftBank Corp., the company repaid a portion of borrowings secured by Alibaba shares and purchased foreign-currency-denominated bonds, marking concrete progress in funding and debt management. - FY2019-Q2AdvancedAnnual report
「Sprint ¥324,473 million Borrowings were obtained through the securitisation of receivables.」
Sprint executed borrowings through the securitisation of receivables, continuing to diversify its funding sources. - FY2019-Q1AdvancedAnnual report
「Proceeds from interest-bearing debt ¥1,436,683 million」
¥1,436,683 million was raised through borrowings, bond issuances and sale-and-leaseback transactions, among other means, as the use of funding sources continued. - FY2018AdvancedAnnual report
「Adjusted free cash flow increased by US$338 million (55.7%) from the previous period to US$945 million (Sprint's disclosed figure, based on US GAAP).」
Sprint’s adjusted free cash flow increased to US$945 million, indicating improved liquidity against a backdrop of diversified funding sources and debt management. - FY2018-Q3AdvancedAnnual report
「Proceeds from long-term borrowings ¥3,687,621 million SoftBank Group Corp. borrowed funds primarily to refinance the acquisition financing for Sprint and Arm, while SoftBank Corp. and Sprint also borrowed through receivables securitization.」
Refinancing of the acquisition financing for Sprint and Arm, as well as borrowing through receivables securitization, was executed, advancing the use of funding sources. - FY2018-Q1AdvancedAnnual report
「During the first quarter under review, Sprint prepaid approximately US$1.6 billion of certain high-interest bonds.」
Sprint prepaid approximately US$1.6 billion of certain high-interest bonds, implementing funding and debt management measures to reduce future interest payments. - FY2017AdvancedAnnual report
「During the period, Sprint continued to diversify its funding methods and began initiatives to reduce future interest payments. While redeeming high-interest bonds as they matured, Sprint raised funds at lower interest rates.」
Sprint raised US$3.5 billion using spectrum and borrowed US$4 billion at approximately half the previous effective interest rate, bringing period-end liquidity to US$10.9 billion. - FY2017-Q3Termination of part of the sale-and-leaseback transactionAnnual report
「Sprint had derecognized property, plant and equipment when selling the subject handsets to MLS under the tranche 1 transaction. Following the termination of the tranche 1 transaction in December 2016 and the repurchase from MLS of the handsets subject to the transaction and the related rights and obligations, Sprint again recognized US$477 million (¥55,548 million) in property, plant and equipment and US$16 million (¥1,826 million) in inventories and other assets.」
Sprint terminated the tranche 1 transaction involving leased handsets, which had been one of its funding sources, and repurchased the subject assets. - FY2017-Q3AdvancedAnnual report
「Against the backdrop of improvements in Sprint's performance and liquidity, Moody's Investors Service, a US credit rating agency, raised the company's issuer rating from "B3" to "B2" in January 2017.」
Against the backdrop of improved liquidity at Sprint, its issuer rating was raised from B3 to B2. - FY2017-Q2AdvancedAnnual report
「In October 2016, Sprint transferred approximately 14% of its spectrum licenses, measured in MHz-pops, whether owned or leased from third parties, to its bankruptcy-remote, wholly owned subsidiaries, Spectrum Financing SPEs. The SPEs raised US$3.5 billion at an interest rate of 3.36%, secured by the spectrum licenses.」
Sprint raised US$3.5 billion at 3.36% secured by spectrum licenses, demonstrating the execution of a specific funding measure. - FY2017-Q1AdvancedAnnual report
「As a result, at the end of the first quarter under review, Sprint's liquidity totaled approximately US$11 billion, comprising US$5.1 billion in cash, cash equivalents and short-term investments, together with undrawn amounts under its revolving credit facility and bridge financing facility, among other sources.」
Funding was carried out using handsets, network equipment and bridge financing, bringing liquidity to approximately US$11 billion. - FY2016First statedAnnual report
「With respect to improving liquidity, in addition to improving cash flow through cost reductions, Sprint was diversifying its funding sources, including sale-and-leaseback transactions involving leased handsets. As a result, it was expected to secure sufficient liquidity to redeem a total of US$3.3 billion in bonds maturing in the fiscal year ending March 2017 and to execute its business plans.」
Funding through sale-and-leaseback transactions and collateralization of network equipment was being pursued.