Orlando, FL -- (SBWIRE) -- 09/12/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Sprint Corporation(NYSE:S), QUALCOMM, Inc.(NASDAQ:QCOM).
Sprint Corporation(NYSE:S) has announced the closing of its previously announced offering of $2.25 billion aggregate principal amount of 7.250% Notes due 2021 and $4.25 billion aggregate principal amount of 7.875% Notes due 2023. Each offering is guaranteed on a senior unsecured basis by Sprint Communications.
The company plans to use the proceeds for general corporate purposes, including redemptions or service requirements of outstanding debt and network expansion and modernization.
Also, on September 9, 2013, Sprint Communications has entered into a waiver under which the lenders waived any default of the quarterly leverage compliance test under Sprint Communications’ revolving credit facility that may otherwise result from the issuance of the Notes, until December 31, 2013. On September 10, it entered into a similar waiver under its Export Development Canada loan agreement. Sprint is discussing with the lenders under the secured equipment facility to get a similar waiver and hopes to reach an agreement.
The Notes and the related guarantees have not been registered under the amended Securities Act of 1933, or the securities laws of any other place, and may not be offered or sold in the United States without registration or an applicable exemption. The Notes will be offered only to qualified institutional buyers in the US under Rule 144A and to persons outside the country under Regulation S.
Are investors worried about the recent updates with S? Find out with a free trend analysis HERE
QUALCOMM, Inc.(NASDAQ:QCOM) ‘s board has approved a $5 billion stock repurchase program. The wireless chipmaker has said that it's replacing the program announced in March. The company has repurchased about 40.1 million shares of common stock for $2.7 billion, since July 24.
Chief Executive Paul Jacobs has said that the company will discuss its capital plans at its analyst day in November.
The stock rose 60 cents to $68.69 after the bell, after having closed at $68.09.
Is QCOM going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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