Sprint Announces the Successful Completion of its Consent Solicitation with Respect to Certain Series of Notes

OVERLAND PARK, Kan.--(BUSINESS WIRE)--Sprint (NYSE: S) today announced that it has received the consents necessary to effect certain amendments (the “Amendments”) to the indenture, as supplemented (the “Indenture”), governing its 8.375% Notes due 2017 (CUSIP No. 852061AF7), 11.500% Notes due 2021 (CUSIP Nos. 852061AM2 and 852061AH3), 9.000% Guaranteed Notes due 2018 (CUSIP Nos. 852061AK6 and U84691AB7), 9.125% Notes due 2017 (CUSIP Nos. 852061AP5 and U84691AC5), 7.000% Guaranteed Notes due 2020 (CUSIP Nos. 852061AQ3 and U84691AD3), and 7.000% Notes due 2020 (CUSIP No. 852061AR1) (collectively, the “Notes,” and each series of the Notes, a “Series”). The Amendments amend the definition of “Change of Control” contained in the Indenture pertaining to each Series to provide an exception to the definition of “Change of Control” for transactions involving one or more “Permitted Holders,” which are defined in the Amendments to include SOFTBANK CORP. and its affiliates.

Sprint received the consents of holders of a majority of the aggregate principal amount of the Notes of all Series voting as a single class, prior to the expiration time of 5:00 p.m., New York City time, on November 19, 2012. As a result, Sprint, the subsidiary guarantors of the Notes, as applicable, and The Bank of New York Mellon Trust Company, N.A. have entered into the Seventh Supplemental Indenture, which effects the Amendments to the Indenture.

Sprint has made cash payments of $1.00 for each $1,000 in aggregate principal amount of Notes of all Series for which a consent was provided.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint Nextel served nearly 56 million customers at the end of the third quarter of 2012 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; offering industry-leading mobile data services, leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint No. 1 among all national carriers in customer satisfaction and most improved, across all 47 industries, during the last four years. Newsweek ranked Sprint No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the nation’s greenest companies, the highest of any telecommunications company. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.