Shearman & Sterling has advised Nokia on its $1.5 billion debut US investment grade, SEC-registered debt offering. The deal closed today. The public offering consists of $1 billion 5.375% notes due in 2019 and $500 million 6.625% notes due in 2039.

Lead partner Jacques McChesney commented: "Although this is a fairly standard notes offering, it is the first time that Nokia has issued debt, other than commercial paper, in the US market. And we were very pleased that they asked us to assist them with this. Previously, we have advised Nokia on their $8.1 billion acquisition of NAVTEQ."

The Shearman & Sterling team representing Nokia included: partner Jacques McChesney (London-Capital Markets), of counsel Pamela Gibson (London-Capital Markets), and associates Trevor Ingram (London-Capital Markets), Cedric Van den Borren (London-Capital Markets) and Tasha Matharu (London-Capital Markets). Associate Thomas Day (New York-Tax) gave US tax advice.

For more information, please contact Caroline Paul | London | T +44 20 7655 5068 | .