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A group of sixteen banks will have to provide $23 billion of loans to T-Mobile US Inc. in order to allow the mobile carrier to close its planned acquisition of Sprint Corp., after the Covid-19 outbreak disrupted plans to sell the debt to third-party investors.
The banks were formally notified Monday that they will need to make the funds available on April 1, so that the two companies can finalize their long-awaited merger, according to people familiar with the matter, who asked not to be identified because the conversations are private.
20,921 in U.S.Most new cases today
-22% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.055 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23