May 6, 2020 / 8:32 AM / a month ago

Finland's Nokia to buy back its 2021 bond worth 500 million euros and issue a new one

FILE PHOTO: The logo of Nokia is seen before the company's news conference in Espoo, Finland March 2, 2020. Lehtikuva/Markku Ulander via REUTERS

HELSINKI (Reuters) - Finnish telecom equipment maker Nokia said on Wednesday it had 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. Nokia also announced it planned to issue new euro-denominated fixed-rate notes.

Reporting by Anne Kauranen; Editing by Alex Richardson

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