Nokia to raise Euro 750 million through bonds to address upcoming debt maturities

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Nokia to raise Euro 750 million through bonds to address upcoming debt maturities

October 25, 2012

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Nokia is planning to raise Euro 750 million through bonds to manage its capital structure and address upcoming debt maturities, say news reports.

The company has released a statement in this context, which stated, "Nokia announces today that it intends to make an offering of senior unsecured convertible bonds due 2017 convertible into ordinary shares of Nokia Corporation. The bonds are proposed to be issued in an aggregate principal amount of Euro 750 million."

The bond issue is expected to close on or about October 26, the statement added.

Nokia said the bonds are expected to carry a coupon of between 4.25 per cent and 5 per cent per annum payable semi-annually. The company's net loss for the quarter ended September 30 reached Euro 969 million, compared with a Euro 68 million loss in the same quarter a year ago.