Nokia Offering Convertible Bonds To Raise €750 Million, Boost Capital Structure, Address Debt, Improve Liquidity

Posted on Oct 23 2012 - 7:59am by Editorial Staff

The struggled Finnish mobile company Nokia today announced that it will offer senior convertible bonds due in 2017 to a number of international investors in order to make a raise of €750 million ($979 million) in order to better manage its capital structure, address debt and improve liquidity. The company in a filing with the Frankfurt Stock Exchange said that it will issue bonds in an aggregate principal amount of EUR 750 million.”

The company recently announced its results with reported net sales of € 7.2 billion, down from € 7.5 billion in second quarter 2012 with an operating loss of € 576 million. Nokia Siemens Networks net sales increased quarter-on-quarter and year-on-year to € 3.5 billion. The Lumia third quarter volumes decreased quarter-on-quarter to 2.9 million units. Mobile Phones Q3 volumes increased quarter-on-quarter to 77 million units; strong sales start for new Asha full touch smartphones, with volumes of 6.5 million units.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.