- Nokia (NOK +0.3%) has launched a tender to buy up to $1B in notes.
- The company's offering to buy from its €500M in 6.75% notes due 2019, $300M in 6.5% debentures due 2028 and $1.36B in 6.45% debentures due 2029. The dollar notes were issued by Lucent Technologies, which eventually became part of Nokia through the Alcatel-Lucent deal.
- The euro notes have acceptance priority.
- Nokia's aiming to manage overall indebtedness; it plans to cancel the euro notes it purchases, and hold the dollar notes.