T-Mobile US: financing in place to close Sprint merger

24 Mar 2020

T-Mobile US has announced that it is financially prepared to close its planned merger with Sprint, based on its previously secured commitments for bridge financing and senior credit facility financing. The company has been in communication with all sixteen banks and has not received any notification that any of the banks are unprepared to fund their commitments to support the closing of the merger transaction. The cellcos continue to drive forward toward closing the merger as soon as possible.

John Legere, CEO of T-Mobile, commented: ‘I’m pleased that right now we have broad support from the banks to finance the closing of this merger. We are very close to unleashing the capabilities of the New T-Mobile, and that is even more important for consumers during the current COVID-19 pandemic.’

According to TeleGeography’s GlobalComms Database, the long-running merger is expected to conclude on 1 April 2020. Deutsche Telekom (DT) and SoftBank are expected to hold approximately 43% and 24%, respectively, of the fully diluted New T-Mobile shares, with the remaining 33% set to be held by public shareholders.

United States, Deutsche Telekom (DT), SoftBank Group Corp, Sprint Corporation, T-Mobile US