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Nokia set to raise $1 billion through the use of bonds

Nokia to raise around $1 billion through bonds

Anthony Garreffa | Oct 24, 2012 at 4:35 am CDT (0 mins, 37 secs time to read)

Struggling phone maker, Nokia, have announced that they will be issuing a new slew of convertible bonds that the company hopes will generate around $980 million. Nokia have posted losses for six consecutive quarters and is still going through their cash reserves.

Nokia set to raise $1 billion through the use of bonds | TweakTown.com

Timo Ihamuotila, Nokia's Executive Vice President and CFO, has said that Nokia's actions have been:

Designed to further strengthen our financial position and liquidity profile while allowing us to benefit from the current attractive long-term financing opportunities in the convertible bond market.

The net proceeds generated from the $980 million of bonds is set to become the phone maker's shares in 2017, which will help the company manage their capital structure, as well as addressing their upcoming debt, all while maintaining existing assets.

Last updated: Apr 7, 2020 at 11:29 am CDT

NEWS SOURCE:bgr.com
Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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