Espoo, Finland – Nokia today announced the completion of the mandatory redemption of EUR 800 million senior notes issued in March 2013 by Nokia Solutions and Networks Finance B.V., the finance company of its Networks business formerly known as NSN. The planned redemption was originally announced on May 20, 2014.
The redemption is part of Nokia’s planned EUR 5 billion capital structure optimization program announced on April 29, 2014, which focuses on, among other things, reducing interest bearing debt. Nokia has announced that it plans to reduce interest bearing debt by approximately EUR 2 billion by the end of the second quarter 2016.
In line with the above, Nokia Solutions and Networks Finance B.V., which is the issuer of the notes, has redeemed all of its EUR 450 million senior notes due 2018 and EUR 350 million senior notes due 2020, each at their principle amount plus the applicable premium and accrued and unpaid interest.
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