By Andrea Heisinger
New York, April 30 - Nokia Corp. sold $1.5 billion of notes (A1/A/) in two tranches Thursday, according to a market source and an FWP filing with the Securities and Exchange Commission.
The $1 billion of 5.375% 10-year notes priced at 99.075 to yield 5.496%, or Treasuries plus 237.5 basis points.
The $500 million 6.625% 30-year notes priced at 99.494 to yield 6.664%, or Treasuries plus 262.5 bps.
Both tranches have a make-whole call of Treasuries plus 40 bps.
The deal was announced late Wednesday after the conclusion of a Federal Reserve meeting and was too late to price that day, a source said.
Bookrunners were Banc of America Securities LLC, Barclays Capital Inc., Credit Suisse Securities and J.P. Morgan Securities Inc.
Co-managers were Calyon Securities, Nordea Bank, RBS Securities Inc., SG Americas Securities, Standard Chartered Bank and UBS Securities.
Proceeds will be used for general corporate purposes, including working capital, repayment of borrowings, capital expenditures, acquisitions and stock repurchases.
The mobile device maker is based in Espoo, Finland.
| Issuer: | Nokia Corp.
|
| Issue: | Notes
|
| Total amount: | $1.5 billion
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital Inc., Credit Suisse Securities, J.P. Morgan Securities Inc.
|
| Co-managers: | Calyon Securities, Nordea Bank, RBS Securities Inc., SG Americas Securities, Standard Chartered Bank, UBS Securities
|
| Trade date: | April 30
|
| Settlement date: | May 7
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
|
|
| 10-year notes
|
| Amount: | $1 billion
|
| Maturity: | May 15, 2019
|
| Coupon: | 5.375%
|
| Price: | 99.075
|
| Yield: | 5.496%
|
| Spread: | Treasuries plus 237.5 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | May 15, 2039
|
| Coupon: | 6.625%
|
| Price: | 99.494
|
| Yield: | 6.664%
|
| Spread: | Treasuries plus 262.5 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
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