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Sprint agrees to $1 billion credit deal to buy Ericsson network equipment

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Sprint will be receiving $1 billion in credit to buy gear for its Network Vision project.

sprint iphone
sprint iphone

Sprint has announced a new $1 billion credit agreement that will be used to purchase equipment from Ericsson for the carrier's Network Vision project. Deutsche Bank leads the group of banks that will be providing the credit facility, and the purchased equipment will help Sprint build out its LTE network, for which the carrier was just recently granted permission to use its 800MHz spectrum. The network is expected to go live in six markets by the middle of this year, with the full rollout due in 2013. And this might not be the last financing news we hear from Sprint — the company revealed last year that it may also require $7 billion in financing to cover the $15.5 billion in subsidies it's paying off in order to carry the iPhone.