Nokia To Offer ?750M ($979M) In Bonds To Service Debt And Prop Up Its Cash Position

nokia logoNokia's ongoing efforts to restructure and invest in a new direction for its mobile phone business is pushing the company into borrowing against its reserves: today the Finnish company said that it would make an offering in Europe of senior unsecured convertible bonds amounting to ?750 million ($979 million), which it said that it would use to service debt "while preserving existing pools of liquidity and for general corporate purposes."

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