Nokia provides telecommunications equipment and services to Verizon in the United States
Finnvera guarantees the supply of Nokia's telecommunications equipment and services to Verizon in the United States. Verizon is one of the largest telecommunications operator in the United States. The operator, which provides services in more than 150 countries, was among the first in the world to launch a commercial 5G mobile network.
This is Finnvera's second guarantee for Nokia's deliveries to Verizon. This time, the amount of the guaranteed loan is USD 500 million, of which Finnvera's buyer credit guarantee accounts for 95 percent. The financing is provided by Deutsche Bank and BNP Paribas.
Finnvera facilitated Nokia’s telecommunications equipment deliveries to Verizon in 2017. In this major transaction, the share of Finnvera’s guarantee and financing was USD 1.5 billion, or roughly EUR 1.3 billion.
Name of the Guarantee Holder: Deutsche Bank AG, a company incorporated in Frankfurt am Main, Germany acting through
its London Branch
Names of the Arrangers and Lenders: Deutsche Bank AG and BNP Paribas Fortis SA/NA
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
Date of publish: 12 August 2020