Subsequent Events

12 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Cash Tender Offers for Certain Outstanding Debt

On May 9, 2017, the Company’s wholly-owned subsidiary, Sprint Communications, Inc. commenced tender offers to purchase for cash up to an aggregate principal amount of $1.0 billion of its 9.000% Guaranteed Notes due 2018 and its 8.375% Notes due 2017. The tender offer with respect to the Guaranteed Notes due 2018 is also subject to a maximum principal amount sublimit of $500 million. On May 23, 2017, the Company subsequently amended the terms of the tender offers to increase the aggregate principal amount of notes subject to the tender offers to $1.7 billion and increase the maximum principal amount sublimit applicable to the Guaranteed Notes due 2018 to $1.2 billion. The tender offers are intended to lower the Company’s current overall interest expense and decrease current debt levels and will be funded by available cash on hand. The tender offers will each expire on June 6, 2017, unless extended or earlier terminated by the Company in accordance with the terms of the offers.

As of May 23, 2017, the Company had accepted early tenders for approximately $1.2 billion principal amount of 9.000% Guaranteed Notes due 2018 and approximately $388 million principal amount of 8.375% Notes due 2017. As a result of the early tenders, approximately $1.6 billion aggregate principal amount of debt was retired, and the tender offer for 9.000% Guaranteed Notes due 2018 was concluded. The tender offer for 8.375% Notes due 2017 is still in effect until June 6, 2017, although it is now limited to approximately $112 million principal amount of such notes.