News & Events

The Firm recently represented JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent, in a new $2.1 billion revolving credit facility for Sprint Nextel Corporation. The new three-and-a-half-year credit facility replaces an existing facility that was to expire in December 2010. The bulk of the new facility will initially be used to support a $1.6 billion letter of credit required by the Federal Communications Commission's Report and Order to reconfigure the 800 MHz band.

The Firm also represented Export Development Canada in amending and restating its $750 million credit agreement with Sprint Nextel.

Sprint Nextel provides wireless and wireline communications services to consumers, businesses and government users. The company served more than 48 million customers at the end of the first quarter of 2010 and is widely recognized for developing, engineering and deploying innovative technologies, including the first and only wireless 4G service from a national carrier in the United States.

The Simpson Thacher team included Patrick Ryan, Philip Russ and Vanessa Clark (Banking and Credit), Kurt Dudas and Chang Won Choi (Tax) and Jennifer Pepin (Executive Compensation and Employee Benefits). Paralegal Jacqueline Altieri provided invaluable assistance.