"This offering is 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," Nokia CFO Timo Ihamuotila explained.
This money will help solidify Nokia’s liquidity in the near future and help deal with debt that matures soon. The bond will be convertible into ordinary Nokia shares in 2017.
What does this say about Nokia? Well not much except for the fact that it needs cash and the thinning interest rates due to the economic situation make this a good time to issue a bond like that. What are your thoughts on that?
source: Nokia via Reuters