Nokia Siemens Networks Secures EUR 2bn Syndicated Loan

Nokia Siemens Networks has signed a EUR 2 billion (US$2.8 billion) multi-currency revolving credit facility with a syndicate of 21 international banks, following a process that was over-subscribed.

The 3-year Facility will be used for general corporate purposes including the refinancing of other bilateral facilities. The syndicated loan will provide a more efficient capital structure for Nokia Siemens Networks. The facility was oversubscribed from its initial launch amount of EUR 1.5 billion and subsequently increased to EUR 2 billion.

"Given the current environment in the credit markets, Nokia Siemens Networks is delighted to have secured the strong support of an excellent group of banks from across the world. The fact that the offer was over-subscribed emphasizes the level of confidence the financial community has in our position as a long-term winner and industry leader," said Luca Maestri, Chief Financial Officer.

Posted to the site on 24th June 2009