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Nokia draws down on Microsoft financing

Monday 9 September 2013 | 08:58 CET | News
Nokia said it has decided to draw down on the EUR 1.5 billion financing option set forth in the recent deal inked with Microsoft. Microsoft agreed to acquire the mobile phone business of Nokia for EUR 3.79 billion, and pay an additional EUR 1.65 billion to license Nokia patents. The EUR 1.5 billion financing was also part of the acquisition, to take place as three EUR 500 million tranches of convertible notes. Nokia intends to use the proceeds to prepay financing raised for the acquisition of the shares in NSN, completed in August, and for general corporate purposes. The 2018 bond, or first

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: World
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