Asks bank to loan it a tenner until payday
Mobile phone network outfit Nokia Siemens Networks (NSN) is trying to raise more than 700 million euros from public markets in the spring to pay its debt and fund investment.
While it does not appear that the company plans to hit the markets with a three stringed guitar and a dog on a string yet, the company needs cash to push itself forward.
The high-yield bond will be the first time the Nokia and Siemens joint venture has tapped public markets. It will see if investors like the company ahead of a possible listing.
NSN has been given a good kicking from Huawei and ZTE but has been turned around thanks to cost cuts and improved sales of higher margin 4G network equipment gear.
Analysts think the company looks pretty good for public investors and private equity firms, with estimates earlier this month that it could be worth well above 5 billion euros.
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Nick Farrell
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