May 6, 2020 / 12:22 PM / a month ago

UPDATE 1-Finland's Nokia set to raise one billion euros with new bond

(Adds details on the new bond)

HELSINKI, May 6 (Reuters) - Nokia plans to issue new euro-denominated fixed-rate notes, the Finnish telecom equipment maker said on Wednesday, and a lead manager told Reuters it was set to raise 1 billion euros from demand of 5.7 billion euros.

Nokia also issued an offer to buy back for cash its 1% notes due March 15, 2021 for up to 500 million euros.

The purpose of the tender offer is to manage Nokia’s overall indebtedness, it said a statement.

Last week, Nokia reported its first-quarter earnings and negative free cash flow of 6 million euros for the quarter. (Reporting by Anne Kauranen in Helsinki and Abhinav Ramnarayan and Yoruk Bahceli in London; Editing by Alex Richardson and Jason Neely)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below