Telecomunicazioni
Redemption of USD 1.85 billion senior notes issued by Alcatel-Lucent USA Inc. as part of Nokia's planned capital structure optimization program
Nokia Corporation
Stock Exchange Release
January 11, 2016 at 17:15 (CET +1)
Espoo, Finland - Nokia announced today that the USD 1.85 billion aggregate principal amount of senior notes issued by Alcatel-Lucent USA Inc., comprising the USD 650 million 4.625% notes due July 2017, USD 500 million 8.875% notes due January 2020 and USD 700 million 6.750% notes due November 2020, will be redeemed in accordance with terms and conditions of the notes. Alcatel-Lucent USA Inc. is a subsidiary of Alcatel-Lucent S.A., the French company controlled by Nokia. The redemption is part of Nokia's planned EUR 7 billion capital structure optimization program announced on October 29, 2015, which focuses on, among other things, reducing interest-bearing liabilities of the combined Nokia and Alcatel-Lucent by approximately EUR 2 billion.
The notice of redemption has been sent today by Alcatel-Lucent USA Inc. to the noteholders, and the redemption will take place on February 10, 2016.
"We are pleased to move forward quickly with the implementation of our capital structure optimization program," said Timo Ihamuotila, Chief Financial Officer. "Lowering the Group's gross debt level is in line with Nokia's long-term target of re-establishing its investment grade credit rating".
Concurrent with the redemption of the Notes, Nokia will provide Alcatel-Lucent USA Inc. with a temporary revolving liquidity support facility until Nokia gains 100% ownership of Alcatel-Lucent.
About Nokia
Nokia is a global leader in the technologies that connect people and things. Powered by the innovation of Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives.
With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. www.nokia.com
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