Sprint closer to obtaining financing for T-Mobile acquisition

A new report on Thursday says that Sprint has eight banks ready to provide it with financing, in order to make a purchase of rival carrier T-Mobile. The amount of the financing comes out to $40 billion, which includes a $20 billion bridge loan that would be made by SoftBank to Sprint. Another $20 billion would involve the refinancing of existing debt owed by T-Mobile.



Five major lenders, JPMorgan Chase & Co, Goldman Sachs Group, Deutsche Bank AG, Bank of America Merrill Lynch and Citigroup Inc, have agreed to finance the transaction. A trio of Japanese banks, Mizuho Financial Group Inc, ...