Finnvera guarantees Nokia's deliveries to Verizon in the United States
Finnvera has granted a buyer credit guarantee to Nokia's telecommunications equipment and services supplies to Verizon in the United States. This is Finnvera's third guarantee arrangement to Verizon which is one of the largest telecommunications operator in the United States.
The amount of the guaranteed loan is USD 500 million. The credit period is 8.5 years.
- Name of the Guarantee Holder: BNP Paribas Fortis SA/NV
- Names of the Arrangers and Lenders: BNP Paribas Fortis SA/NV, Deutsche Bank AG and Banco Santander, S.A.
- Names of the Exporters: Nokia Corporation, Nokia of America Corporation and/or their subsidiaries
- Name of the Buyer and Borrower: Verizon Communications Inc. and/or its subsidiaries in the United States of America
- Goods: Telecommunication equipment and related services
- Country of Export transaction: United States of America
- Credit amount: USD 500 million
- Credit period: 8.5 years
- Credit amount covered by Finnvera: USD 500 million
- Percentage of cover: 95% of political and commercial risks
- Environmental and social classification: C
- Signing date of the Finnvera Guarantee Agreement: 21 March 2022