Nokia - Company Announcement

USD 1.85 billion senior notes issued by Alcatel-Lucent USA Inc. have been redeemed as part of Nokia's capital structure optimization program

Nokia Corporation
Stock Exchange Release
February 10, 2016 at 19:15 (CET +1)

USD 1.85 billion senior notes issued by Alcatel-Lucent USA Inc. have been
redeemed as part of Nokia's capital structure optimization program

Espoo, Finland - Nokia announced today that the USD 1.85 billion aggregate
principal amount of senior notes issued by Alcatel-Lucent USA Inc., comprising
the USD 650 million 4.625% notes due July 2017, USD 500 million 8.875% notes due
January 2020 and USD 700 million 6.750% notes due November 2020, have been
redeemed in accordance with terms and conditions of the notes. Alcatel-Lucent
USA Inc. is a subsidiary of Alcatel-Lucent S.A., the French company controlled
by Nokia.

The redemption is part of Nokia's EUR 7 billion capital structure optimization
program announced on October 29, 2015, which focuses on, among other things,
reducing interest-bearing liabilities of the combined Nokia and Alcatel-Lucent
by approximately EUR 2 billion.

Alcatel-Lucent S.A. has also on February 9, 2016 terminated its EUR 504 million
revolving credit facility. Following these transactions all debt items in the
combined company capital structure are based on investment grade documentation
and have no financial covenants.


About Nokia
Nokia is a global leader in the technologies that connect people and things.
Powered by the innovation of Bell Labs and Nokia Technologies, the company is at
the forefront of creating and licensing the technologies that are increasingly
at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network,
Nokia is uniquely positioned to help communication service providers,
governments, and large enterprises deliver on the promise of 5G, the Cloud and
the Internet of Things. www.nokia.com

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Email: press.services@nokia.com


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