Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum.
The move is meant to boost Sprint’s cash position and will eventually add $2.2 billion to the company’s coffers. Sprint will rely on the assets as collateral to generate loans from SoftBank and other external entities.
Sprint has about $6 billion in cash on hand and will use the $2.2 billion infusion to cover debts. In 2008, Sprint made a similar move by selling many of its cell towers to TowerCo. Sprint then leased back access to those towers
