/// Nokia Taps Option for Nearly $2 Billion in Bond Financing From Microsoft

September 6, 2013  |  All Things Digital


One of the many terms of the Microsoft-Nokia megadeal is an option for Nokia to get 1.5 billion euros ($1.975 billion) from Microsoft ahead of the transaction’s closing. Nokia said on Friday that it indeed wants the full amount, which it will pay for by issuing a series of bonds to Microsoft. If Microsoft’s deal to acquire Nokia’s device unit is completed, the bonds will be redeemed from the purchase price. Otherwise, they have different maturity dates, and are also convertible into Nokia shares. In a statement , Nokia said it will use the money to pay down debt from its buyout of Siemens in their network equipment joint venture, as well as for the catch-all “general corporate purposes.” RELATED POSTS: Microsoft CEO Promises to Limit Nokia Phone Names to 10 Syllables or Less Samsung, HTC Mum on Any Interest in Windows Phone Post-Nokia Elop in July: It’s “Hard to Understand the Rationale” for Selling Nokia’s Devices Business Microsoft Is Getting Nokia’s Phone Business for a Song Nokia Shares Rise, Microsoft Falls in Reaction to Deal So Much for BlackBerry’s “Clear Shot” at Being No. 3 in the Smartphone Market Selling Nokia Was Hard Emotionally, But Right Thing to Do, Says Interim CEO Marko Ahtisaari, Nokia’s Top Designer, To Leave Company in November Steve Ballmer on Why Buying Microsoft’s Biggest Phone Partner Makes Sense Nokia Interim CEO: We Have Three Strong Businesses Remaining Barcelona Rendezvous, 50 Nokia Board Meetings Led to Microsoft Deal Microsoft’s Nokia Deal By The Numbers Microsoft Confirms It Gets Less Than $10 Per Nokia Windows Phone Sold Stephen Elop Is Now Microsoft CEO Candidate to Beat Microsoft Wants to Keep Licensing Windows Phone to Others, Post-Nokia Deal Microsoft Explains the Rationale Behind the Nokia Deal Microsoft to Buy Nokia’s Device Business in Deal Worth $7.17 Billion

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Nokia Taps Option for Nearly $2 Billion in Bond Financing From Microsoft


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