Banking, finance, and taxes
Sprint's Note Offering Rescues Clearwire (S, CLWR)
Published:
Last Updated:
Sprint Nextel Corporation (NYSE: S) is coming to the aid of Clearwire Corporation (NASDAQ: CLWR). Sprint has been known (or thought of) to be a capital raising entity and this morning we are getting word that it is raising an unspecified amount of capital. The wireless operator is planning to offer notes due 2021 and notes due 2018 in a private transaction.
Net proceeds from the offering will be used for general corporate purposes, which may include, among other things, redemptions or service requirements of outstanding debt, network expansion and modernization and potential funding of Clearwire Corporation, and its subsidiary, Clearwire Communications LLC.
The notes are to be exempt from the SEC registration requirements as these will be under rule 144A and Reg.S.
Sprint shares are up 1.25% but the real winner is Clearwire Corporation (NASDAQ: CLWR) with a gain north of 20% to $1.12 and it has traded more than a full day’s volume after less than an hour of trading.
JON C. OGG
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
