Nokia Announces New Notes and the Maximum Acceptance Amount and Final Results for its Offer to Purchase
Nokia Corporation
Stock Exchange Release
May 14, 2020 at 10:00 (CET 1)
Nokia Announces New Notes and the Maximum Acceptance Amount and Final Results for its Offer to Purchase
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN OR AT ANY ADDRESS IN, THE UNITED STATES OR ANY JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
This notice must be read in conjunction with the tender offer memorandum dated 6 May 2020 (the Tender Offer Memorandum). Capitalised terms used in this notice and not otherwise defined herein shall have the meanings ascribed to them in the Tender Offer Memorandum.
Espoo, Finland - Nokia announced on 6 May 2020 the launch of the Tender Offer described in the Tender Offer Memorandum. The Tender Offer expired at 4:00 p.m. (London time) on 13 May 2020.
On 6 May 2020, Nokia priced a new issue of 500,000,000 2.375 per cent. Notes due 15 May 2025 and 500,000,000 3.125 per cent. Notes due 15 May 2028 (the New Notes). Application will be made for the New Notes to be admitted to listing and trading on Euronext Dublin.
The New Financing Condition has been satisfied, subject to the issuance of the New Notes. The New Notes have been priced and a subscription agreement between Nokia and the joint bookrunners named therein for the purchase of, and subscription for, the New Notes has been signed and remains in full force and effect as of the date hereof.
Nokia is, therefore, pleased to announce that it will accept Notes validly tendered pursuant to the Tender Offer on the following basis:
Final aggregate principal amount of Notes tendered pursuant to the Tender Offer: 227,064,000
The Maximum Acceptance Amount in respect of the Tender Offer has been set at 150,000,000. As a result, a pro-ration factor of 65.953% will be applied to the tendered notes.
Final aggregate principal amount of Notes that Nokia accepted for purchase: 150,000,000
Final aggregate principal amount of Notes that remain outstanding after settlement of the Tender Offer: 350,000,000
The Settlement Date for the Tender Offer and the New Notes is expected to be 15 May 2020.
Kristian Pullola, Chief Financial Officer at Nokia, said: The successful completion of these transactions is a sign of trust in Nokia and our ability to serve our resilient customer base, which continues to offer essential services during these unprecedented times. We are pleased to have pre-financed our 2021 and 2022 maturities in-line with our prudent capital structure management, which has positioned us well to run our business and continue to fund the R&D investments needed for industry leadership.
Joint Dealer Managers
Barclays Bank PLC, Citigroup Global Markets Limited, Goldman Sachs International and Nordea Bank Abp (the Joint Dealer Managers ) are acting as Joint Dealer Managers for the Tender Offer. Investors with questions may contact the Joint Dealer Managers at the addresses and numbers shown below.
Barclays Bank PLC Citigroup Global Markets Limited Goldman Sachs International Nordea Bank Abp
5 The North Colonnade
Canary Wharf
London E14 4BB
United Kingdom Citigroup Centre
Canada Square
Canary Wharf
London E14 5LB
United Kingdom Plumtree Court
25 Shoe Lane
London EC4A 4AU
United Kingdom c/o Nordea Danmark, filial af Nordea Bank Abp, Finland
Gr njordsvej 10
PO Box 850
DK-0900 Copenhagen C
Denmark
Tel.: 44 (0) 20 3134 8515
Attn.: Liability Management Group
Tel: 44 20 7986 8969
Attn.: Liability Management Group
Tel: 44 20 7552 6157
Attn.: Liability Management Group
Tel: 45 5547 4253
Attn.: Liability Management
Email:
eu.lm
@barclays.com Email: liabilitymanagement.europe
@citi.com Email: liabilitymanagement.eu@
gs.com Email: nordealiabilitymanagement
@nordea.com
Copies of the Tender Offer Memorandum can be requested from, and questions regarding the procedures for tendering Notes may be directed to, the Tender Agent, Lucid Issuer Services Limited, at: 44 20 7704 0880 or at nokia@lucid-is.com.
This stock exchange release must be read in conjunction with the Tender Offer Memorandum. The Tender Offer Memorandum contains important information which should be read carefully before any decision is made with respect to the Tender Offer. This stock exchange release is neither an offer to sell nor a solicitation of offers to buy any securities. The Tender Offer is being made only pursuant to the Tender Offer Memorandum. None of Nokia, the Joint Dealer Managers or the Tender Agent, makes any recommendation in connection with the Tender Offer. Please refer to the Tender Offer Memorandum for a description of the offer terms, conditions, disclaimers and other information applicable to the Tender Offer.
Holders should seek their own financial advice, including in respect of any tax consequences, from their broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Notes pursuant to the Tender Offer. The Joint Dealer Managers will not be responsible to any holders of Notes for providing the protections afforded to customers of the Joint Dealer Managers or for advising any other person in connection with the Tender Offer.
About Nokia
We create the technology to connect the world. Only Nokia offers a comprehensive portfolio of network equipment, software, services and licensing opportunities across the globe. With our commitment to innovation, driven by the award-winning Nokia Bell Labs, we are a leader in the development and deployment of 5G networks.
Our communications service provider customers su
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
06/05/2026
Polands Miecznik-class frigates are part of the largest contract in Polish shipbuilding history. (Image Credit: PGZ Stocznia Wojenna)...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Riedel Communications today announced the expansion of its leadership structure as part of a strategic initiative to strengthen both its operational management ...
06/05/2026
For nearly three decades, Veteran Production Sound Mixer and Five-time Emmy Award Winner Dirk Sciarrotta has helped define the sonic identity of the long-runnin...
06/05/2026
ZEISS CinCraft LensCore: Cinema Lens Looks for Compositing
Brie Clayton May 6, 2026
0 Comments
ZEISS announces the launch of CinCraft LensCore, a nove...
06/05/2026
Wisycom Solves Extreme RF Challenges Across Miles of Live Action for Gravity Med...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Narrative Entertainment has partnered with Encompass to deliver high-quality subtitling of its Great! network content using the Altitude Intelligence AI assiste...
06/05/2026
SipRadius, widely recognized for making content processing and connectivity secure and seamless, is proud to launch a dramatic new approach to AI content creati...
06/05/2026
When the broadband and media industry gathers at ANGA COM in Cologne from May 19 to 21, Big Blue Marble will be at the forefront. The international broadcast an...
06/05/2026
Cinegy GmbH, a leading developer of software-defined television technology, is proud to exhibit at MPTS for the first time. Visitors to the stand will discover ...
06/05/2026
Val Jeanty Receives 2026 Doris Duke Artist Award Jeanty, a composer, percussionist, and turntablist, is the fourth Berklee recipient of the prestigious award ...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
When live cycling races and international marathons stretch for miles across cities and countryside, there is no margin for RF failure in live broadcast. As Chi...
06/05/2026
Oberkochen/Germany, May 5, 2026
ZEISS announces the launch of CinCraft LensCore, a novel solution for creating physically based cinematic lens looks for visual...
06/05/2026
SAN JOSE, Calif. - May 6, 2026 - Harmonic (NASDAQ: HLIT) today announced its latest broadband innovations for ANGA COM 2026, highlighting its vision for a new e...
06/05/2026
Statement from Rupert Murdoch, Chairman Emeritus, Fox Corporation on Ted Turner&...
06/05/2026
Friday 8 May on RT One and RT Player
Meet the NSPCA team caring for and protecting animals in need in this six-part series
Fly on the wall, six-part series...
06/05/2026
The race to build the world's most powerful AI factories demands networking ...
06/05/2026
How changes to proteins can alter drug interactions for new precision therapies Scripps Research team maps how chemical modifications to proteins affect drug bi...
05/05/2026
Experts from the world of academia, tech, business, politics and media convened for a Thomson Talks at the Cambridge Disinformation Summit in April. It's th...
05/05/2026
Three phones were hardwired for power and transmission to the truck; camera feat...
05/05/2026
The creative studio behind campaigns for the NBA, Fanatics Sportsbook & Casino, ...
05/05/2026
Nielsen has announced results from a co-viewing pilot program covering February&...
05/05/2026
viztrick AiDi, an on-device AI solution developed by Nippon TV, delivered global...
05/05/2026
ARRI has announced Omnibar, a battery-powered, IP65-rated multi-color LED linear...
05/05/2026
Imagine Communications has announced that France T l visions is the first broadc...
05/05/2026
The Women's National Basketball Association (WNBA) and Bell Media today announced a multiyear agreement to broadcast and stream WNBA games in Canada beginni...
05/05/2026
SVG is proud to announce Warner Bros. Discovery's Techwood Studios in Atlant...
05/05/2026
With no operator required, AutoMic workflow automates talent identification on U...
05/05/2026
A crash in 2015 set the industry back, but this winter proved that drones are he...
05/05/2026
Another year, and more proof that Asia continues to shape some of the world's most exciting new sounds. This year's RADAR artists draw from deep local r...
05/05/2026
The Austin City Limits Music Fest 2026 lineup just dropped, and this year, Spoti...
05/05/2026
New drum machine book campaign incoming
Bjooks have announced that during Superbooth 2026, they will be launching a Kickstarter campaign to fund the product...
05/05/2026
Flagship all-in-one production bundle updated
The latest version of Native Instruments' flagship virtual instrument and plug-in bundle has just been ann...
05/05/2026
Rohde & Schwarz to host RF Testing Innovations Forum 2026, helping design engine...
05/05/2026
L3Harris provides communications, electronic warfare, sensors and mission systems that enable Virginia-class submarine crews to operate with confidence in conte...
05/05/2026
The company grew by 7.6% in net revenue and 16.3% in EBITDA, achieving a 33% inc...
05/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
05/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
05/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
Nokia Announces New Notes and the Maximum Acceptance Amount and Final Results for its Offer to Purchase 
