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Nokia re-enters Euro-Commercial Paper market
April 18, 1996
Nokia has today signed a USD 500 million Euro-Commercial Paper Programme. The arranger of the programme and one of the dealers is Citibank International plc. The other dealers are Enskilda, NatWest Markets and UBS Ltd. The issuers in the programme are Nokia Corporation, Nokia Finance International B.V. and Nokia Treasury Asia Pte. Ltd.
"Nokia has a preliminary A1 rating to this program from Standard & Poor´s, and we expect to receive a P-1 rating from Moody´s Investors Service, both subject to acceptable documentation," says Mr. Timo Korvenpää, Group Treasurer, Nokia.
According to Mr. Korvenpää, Nokia is re-entering the ECP-market to diversify its funding sources. The proceeds will mainly be used to fund short-term working capital.
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