Search
 

Dish Bid Divides Sprint Lenders, Owners

Investors praise takeover offer, while bondholders worry about hike in leverage.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Sprint Nextel Corp. bondholders are at odds with shareholders from Leon Cooperman to John Paulson who’ve praised a takeover bid from Dish Network Corp. that may amplify the largest junk issuer’s debt load by 31 percent.

Average yields for Sprint’s $20 billion of bonds, which had plunged 1.33 percentage points to 4.64 percent since the third-largest U.S. mobile-phone company said in October it may receive a “substantial” investment from Softbank Corp., have jumped 0.31 percentage point this week following Dish’s unsolicited offer. That contrasts with a 15 percent stock surge for Sprint.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Recommended Stories

Russia Sanctions Will Hit Pensions

Laura Benitez & Loukia Gyftopoulou |

Pimco execs told the U.S. Treasury that a Russian default would actually give President Vladimir Putin more money for his war efforts.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.