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Sprint reports expiration of unit's consent solicitation

Sprint Corp. on May 18 reported the expiration of the consent solicitation of Sprint Capital Corp., which is a wholly owned finance subsidiary of Sprint Communications Inc.

The company also received the consents necessary to effect certain amendments to the indenture, dated as of Oct. 1, 1998, governing Sprint Capital's 6.875% notes due 2028 and 8.750% notes due 2032.

The consent solicitation was conducted in connection with Sprint's previously announced agreement to merge with a wholly owned subsidiary of T-Mobile US Inc., with Sprint surviving, after which Sprint is expected to become a direct or indirect wholly owned subsidiary of T-Mobile USA Inc.

In addition, at and subject to the consummation of the T-Mobile transaction, T-Mobile and T-Mobile USA will enter into a supplemental indenture to the indenture to provide unconditional and irrevocable guarantees in respect of each series of the notes.