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Sprint to raise USD 1.2 bln by selling, leasing back devices

2015-11-20 17:53:00| Telecompaper Headlines

(Telecompaper) Sprint has signed an agreement with newly formed Mobile Leasing Solutions for the sale and lease-back of certain leased devices. The operator expects the deal to deliver approximately USD 1.1 billion in cash as part of a total consideration of USD 1.2 billion. The transaction is expected to close in the first week of December. It is designed to immediately improve the company's liquidity position. Mobile Leasing Solutions was formed by equity investors including SoftBank. Brightstar is providing its lease management and tracking system and providing remarketing services. A forward purchase agreement is being finalised with Foxconn. Sprint said that it now expects USD 6.8 billion to USD 7.1 billion of Adjusted EBITDA in 2015, compared to its earlier target of USD 7.2 billion to USD 7.6 billion.

Tags: back selling usd devices

Summit Capital Leasing Co, a provider of instalment loans for...

2015-11-15 18:41:39| Grocery - Topix.net

SUMMIT CAPITAL LEASING CO, a provider of instalment loans for motorcycle purchases that is a subsidiary of Tokyo-based Sumitomo Corporation, one of the world's largest trading companies, reported strong performance in the third quarter, with revenue growth of 30 per cent, exceeding its expectations. Lending increased by 53 per cent from the same period of the previous year, attributed to aggressive business expansion nationwide.

Tags: for capital provider loans

Six months after disappearance, former China Aircraft Leasing chief seen in Hong Kong ago

2015-11-09 06:03:50| Airlines - Topix.net

Mike Poon was seen last week by several people and is said to have visited the company's Admiralty office. Photo: SCMP Pictures Former China Aircraft Leasing Group chief executive Mike Poon Ho-man has mysteriously resurfaced in Hong Kong after being missing for six months, adding a new twist to a deepening graft probe that has just netted the top boss of China Southern Airlines.

Tags: months ago china hong