May 6, 2020 / 8:34 AM / 22 days ago

Finland's Nokia to buy back its 2021 bond worth 500 million euros and issue a new one

FILE PHOTO: Visitors gather outside the Nokia booth at the Mobile World Congress in Barcelona, Spain, February 26, 2019. REUTERS/Sergio Perez/File Photo

HELSINKI (Reuters) - Finnish telecom equipment maker Nokia (NOKIA.HE) said on Wednesday it had issued an offer to buy back for cash its 1% notes due March 15, 2021 for up to 500 million euros.

The purpose of the tender offer is to manage Nokia’s overall indebtedness, it said a statement. Nokia also announced it planned to issue new euro-denominated fixed-rate notes.

Reporting by Anne Kauranen; Editing by Alex Richardson

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