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BRIEF-Nokia commences tender offers for outstanding notes
2017年5月30日 / 下午3点02分 / 6 个月前

BRIEF-Nokia commences tender offers for outstanding notes

May 30 (Reuters) - Nokia Oyj:

* Nokia commences tender offers for outstanding notes and consent solicitation from certain note holders

* Has commenced tender offers to buy for cash $300 million 6.50% debentures due January 15, 2028 and $1.36 billion 6.45% debentures due March 15, 2029​

* Purpose of tender offers is to streamline Nokia’s capital structure by reducing quantum of legacy debt at its subsidiary level

* Has commenced tender offers to also purchase for cash $1 billion 5.375% notes due March 15, 2019 issued by Nokia

* Nokia intends to use all or part of proceeds from new notes and cash on balance sheet to fund tender offers and consent solicitation​

* Purpose of tender offers is also to refinance short-dated 2019 notes, optimize debt structure in context of planned issue of new notes

* By tendering ALU notes, holders will be deemed to have validly delivered their consent to proposed amendments to ALU indenture​ Source text for Eikon: Further company coverage:

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