HELSINKI – On February 24th, Nokia drew a loan of 500 million euros from the European Investment Bank (EIB), according to Nokia’s annual report to the U.S. Securities and Exchange Commission.
Nokia stated that its Research and Development loan facility agreement with the EIB had an average maturity of five years post disbursement.
The agreement was signed in August 2018 and was available until last month.
The company’s finances have been under scrutiny since the end of 2019 after Nokia halted dividend payouts saying that it needed more investment than expected in 5G equipment development.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.