Nokia Gains US$584M Loan for 5G Research
Monday, August 27, 2018 | Comments

Nokia signed a EUR 500 million (US$584 million) loan transaction with the European Investment Bank (EIB), supported by the European Fund for Strategic Investments (EFSI), a key element of the Investment Plan for Europe, also known as the Juncker Plan. Nokia will use the loan to further accelerate its research and development of 5G technology.

The EFSI-supported loan from the EIB supports Nokia, which invests heavily in research, development and innovation (RDI) in an area that can produce enabling technologies for innovation and growth in Europe.

5G technology is expected to enable faster speeds, massive connectivity, decade-long battery life for sensors and super-responsive and reliable networks for customers. This could power on-demand virtual reality (VR) and augmented reality (AR) experiences, driverless vehicles, medical monitoring, advanced industrial automation services, and other applications, all requiring ubiquitous, low-latency connectivity.

"We are pleased to land this financing commitment from the EIB, who shares our view of the revolutionary nature of 5G and the realization that this revolution is already underway,” said Nokia Chief Financial Officer (CFO) Kristian Pullola. “This financing bolsters our 5G research efforts and continues the broader momentum we have already seen this year in terms of customer wins and development firsts, supporting our relentless drive to be a true leader in 5G, end to end."

The loan, which extends Nokia's debt maturity profile, has an average maturity of about five years after disbursement, which can take place at any time during the next 18 months.

Would you like to comment on this story? Find our comments system below.




 
 
Post a comment
Name: *
Email: *
Title: *
Comment: *
 

Comments

No Comments Submitted Yet

Be the first by using the form above to submit a comment!

Site Navigation

Close