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Nokia Siemens Networks Confirms Signing EUR1.3 Billion Financing Facility
By: Ian Mansfield |
Nokia Siemens Networks has confirmed previous reports that it has signed a new financing facility worth EUR1.305 billion with 15 international banks, to replace its existing revolving credit facility when it matures in June 2012.
The committed facilities are comprised in equal parts of a revolving credit facility maturing in June 2015 and a term loan facility that matures in June 2013. They will be used for general corporate purposes.
"Nokia Siemens Networks is very pleased to have secured the strong support of an excellent group of global banks," said Marco Schroeter, chief financial officer of Nokia Siemens Networks. "Given current conditions in the credit markets, securing this facility is a strong endorsement of the company's bold new strategy and restructuring plan."
The facilities were signed on December 21, 2011.
Tags: [nokia siemens networks]
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