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Report: Sprint to mortgage airwaves to raise funds

Sprint Corp. is planning to initially raise around $3.5 billion via the sale and leaseback of more than 10% of its wireless airwaves, The Wall Street Journal reported Oct. 11, citing several people familiar with the matter.

The company reportedly values the asset package at more than $14 billion.

The chunk of airwaves to be offered will mostly be in the 2.5 GHz frequency bands, as well as some in the 1.9 GHz frequency bands, according to the report.

Sprint previously made similar fundraising efforts in November 2015 and April 2016, raising $1.1 billion and $2 billion, respectively. Parent company SoftBank Group Corp. partly financed both transactions.