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Nokia Signed a USD 500 Million Revolving Credit Facility
June 03, 1996
Nokia Corporation signed a USD 500 million Revolving Credit Facility with an international bank syndicate on May 31, 1996 in Helsinki. The term of the facility is seven years, and the margin through the 7-year-period is 0.175 per cent. Commitment fee for the unutilized portion is 0.0875 per cent.
The credit facility has been arranged by Merita Bank Ltd, NatWest Capital Markets Limited, Societe Generale and Union Bank of Switzerland, and a total of 25 international banks participated in it.
"The facility will be used for future funding needs and as a back up for Nokia´s short term working capital borrowings", says Mr Timo Korvenpaa, Group Treasurer, Nokia.
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