The Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent, in a new $2.8 billion revolving credit facility for Sprint Nextel Corporation. The new five year credit facility replaces the company’s existing $2.2 billion facility that was to expire in October 2013. The new facility provides supplemental liquidity for general corporate purposes and will be used to support the letter of credit required by the Federal Communications Commission’s Report and Order to reconfigure the 800 MHz band.
Sprint Nextel provides wireless and wireline communications services to consumers, businesses and government users. The company served more than 55 million customers at the end of 2012 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States.
The Simpson Thacher team included Patrick Ryan, Christopher Bell and Austen Heim (Banking and Credit) and Rob Holo and Vanessa Cohen (Tax).
