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Nokia Raising EUR750 Million in Debt Offering
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Nokia has announced that it is seeking to raise EUR750 million in debt in the form of unsecured convertible bonds due 2017, which are convertible into Nokia's ordinary shares.
Nokia intends to use the net proceeds of the offering to manage its capital structure, address upcoming debt maturities while preserving existing pools of liquidity and for general corporate purposes.
"This offering is designed to further strengthen our financial position and liquidity profile while allowing us to benefit from the current attractive long-term financing opportunities in the convertible bond market," said Timo Ihamuotila, Nokia's Executive Vice President and CFO.
BofA Merrill Lynch, Barclays, Citi and Deutsche Bank are acting as joint bookrunners and BofA Merrill Lynch is acting as settlement agent in the offering.
Tags: [nokia]
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