NOKIA : Nokia Siemens Networks Finance B.V. issues EUR 800 million Senior Notes and announces pricing

  NOKIA : Nokia Siemens Networks Finance B.V. issues EUR 800 million Senior
                         Notes and announces pricing

Nokia Corporation
Stock exchange release
March 22, 2013 at 18.00 (CET+1)

Espoo, Finland - Nokia announced today that Nokia Siemens Networks Finance
B.V. (the "Issuer"), a wholly owned subsidiary of Nokia Siemens Networks B.V.,
is issuing EUR 450 million Senior Notes due 2018 at a coupon of 6.75% per
annum (the "2018 Notes") and EUR 350 million Senior Notes due 2020 at a coupon
of 7.125% per annum (the "2020 Notes" and, together with the 2018 Notes, the
"Notes"), each at an offering price of 100%. The offering was announced on
March 18, 2013. The Notes amount to an aggregate total of EUR 800 million,
which is an increase from the originally planned amount of EUR 600 million.
The Notes will be guaranteed on a senior unsecured basis by Nokia Siemens
Networks B.V. and Nokia Siemens Networks Oy. The net proceeds from the
offering of the Notes will be used to prepay certain existing debt of Nokia
Siemens Networks and for general corporate purposes.

Nokia Siemens Networks is jointly owned by Nokia Corporation and Siemens AG
and its financial results are consolidated by Nokia Corporation. Nokia has not
guaranteed any of the Nokia Siemens Networks borrowings and thus they are
non-recourse to Nokia.

The Notes have not been registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), and may not be offered or sold in the
United States absent registration under the U.S. Securities Act or an
applicable exemption from the registration requirements of the U.S. Securities
Act. The Notes are being offered only to qualified institutional buyers in
accordance with Rule 144A under the U.S. Securities Act and outside the United
States in accordance with Regulation S under the U.S. Securities Act.

Important Regulatory Notice

The offer and sale of the Notes will be made pursuant to an exemption under
the Prospectus Directive, as implemented in Member States of the European
Economic Area, from the requirement to produce a prospectus for offers of
securities. This announcement does not constitute an advertisement for the
purposes of the Prospectus Directive.

This announcement does not constitute an offer to sell or the solicitation of
an offer to buy any Notes, nor will there be any sale of Notes referred to in
this announcement, in any jurisdiction, including the United States, in which
such offer, solicitation or sale is not permitted. The Notes may not be
offered or sold in the United States absent registration under the U.S.
Securities Act or an applicable exemption from the registration requirements
of the U.S. Securities Act.

About Nokia
Nokia is a global leader in mobile communications whose products have become
an integral part of the lives of people around the world. Every day, more than
1.3 billion people use their Nokia to capture and share experiences, access
information, find their way or simply to speak to one another. Nokia's
technological and design innovations have made its brand one of the most
recognized in the world. For more information, visit
http://www.nokia.com/about-nokia.

Media Enquiries:

Nokia
Communications
Tel. +358 7180 34900
Email: press.services@nokia.com

www.nokia.com

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Source: NOKIA via Thomson Reuters ONE
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