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To: slacker711 who wrote (114472)	2/26/2002 9:28:03 AM
From: Wyätt Gwyön	Respond to of 152472

Would this just be a trial balloon for a larger offering? ask their CFO -g-. does PCS has a previously established shelf offering? if so, that could let them do spots like this i believe. and if that theory is correct, one thing you might want to know is, what was the size of the shelf offering, and how much of it is left.

To: slacker711 who wrote (114472)	2/26/2002 10:08:14 AM
From: Jon Koplik	Respond to of 152472

Re : "Sprint PCS spot secondary of 13 mln shares prices at $9" -- my guess : It may not be Sprint PCS issuing stock; just an existing shareholder cashing out (slightly). Someone like Comcast, or Cox Communications (or whatever) "lightening up." Jon.

To: slacker711 who wrote (114472)	2/26/2002 11:12:52 AM
From: Keith Feral	Read Replies (2) \| Respond to of 152472

$100 million gives them the cash to pay the higher rates on their commercial paper. Sprint's current bond yield are over 9%. They need $2 billion in cash to fund operations this year which will generate a $2.8 billion EBITDA profit. For every 1% point in premium that Sprint has to pay for the new rates on commercial paper, it cost them $20 million on the $2 billion loan. $100 million pays for an additional 5% points in yield.