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Sprint taps US$1.2b in financing from SoftBank leasing unit

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SoftBank set up the new financing source as Sprint has US$8b in loans due in three years, said Mr Claure, seen being introduced by chairman Masayoshi Son.

New York 

SPRINT Corp is taking US$1.2 billion in financing from a newly created phone leasing company set up by majority owner SoftBank Group Corp to help lower equipment costs and relieve pressure on the unprofitable carrier's dwindling cash supply.

As a result of the deal,

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