Sprint on Wednesday announced that it has signed three vendor financing deals worth US$1.8 billion and increased an existing credit facility by $300 million.
The equipment makers involved in the deals are Nokia, Samsung and Alcatel-Lucent.
Nokia has extended credit worth up to $800 million to the U.S. telco, while Samsung has inked a $750 million agreement.
Alcatel-Lucent provided a facility of up to $250 million and, according to Sprint, was instrumental in arranging a $300 million extension to its credit line with Export Development Canada (EDC).
Sprint also announced that it has amend ed the terms of a credit facility used to finance $1 billion worth of equipment purchases from Ericsson.
"These deals provide Sprint with greater flexibility and liquidity options as we focus on growing the business and investing in our network," said Joe Euteneuer, chief financial officer at Sprint, in a statement.
Sprint is undertaking an overhaul of its network in a bid to re-establish itself as a real competitor in the U.S. mobile market. It faces stiff competition though, both from the market’s big guns Verizon and AT&T, and from challenger T-Mobile, which is on a mission to overtake Sprint in terms of customer numbers as soon as possible.
