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Nokia launches offer to repurchase up to $1B in debt

Feb. 22, 2017 2:48 PM ETNokia Oyj (NOK) StockNOKBy: Jason Aycock, SA News Editor6 Comments
  • 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.

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