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Nokia Oyj and Siemens AG's Joint Venture's Subsidiary Issues Senior Notes


Friday, 22 Mar 2013 12:00pm EDT 

Nokia Oyj and Siemens AG announced that Nokia Siemens Networks Finance B.V., a wholly owned subsidiary of Nokia Oyj and Siemens AG's joint venture Nokia Siemens Networks B.V., issues EUR 450 million Senior Notes due 2018 at a coupon of 6.75% per annum (the 2018 Notes) and EUR 350 million Senior Notes due 2020 at a coupon of 7.125% per annum (the 2020 Notes and, together with the 2018 Notes, the Notes), each at an offering price of 100%. The offering was announced on March 18, 2013. The Notes amount to an aggregate total of EUR 800 million, which is an increase from the originally planned amount of EUR 600 million. The Notes will be guaranteed on a senior unsecured basis by Nokia Siemens Networks B.V. and Nokia Siemens Networks Oy. The net proceeds from the offering of the Notes will be used to prepay certain existing debt of Nokia Siemens Networks and for general corporate purposes. 

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