Sprint Corp. is doubling a payout to bondholders to entice them to loosen covenants and clear the overhang of potential default litigation as the company moves toward a takeover by T-Mobile USA Inc.
The wireless carrier is now offering 4 cents for every dollar in principal outstanding to agree to the amendment, according to a statement May 16. It also moved up the expiration date of the offer by one day to May 17 at 5 p.m. in New York.
Sprint is soliciting consents to amend a covenant in its Sprint Capital Corp. bonds due 2028 and 2032 that was ...
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