TORONTO—Nortel Networks Corp. said it will offer $2 billion in senior unsecured notes. The company said it plans to use $1.3 billion of the net proceeds of the offering to repay the company’s one-year credit facility. The rest, Nortel said, would go toward “general corporate purposes, including to replenish recent cash outflows of $150 million for the repayment at maturity of the outstanding aggregate principal amount of the 7.4 percent notes due June 15, 2006.”
Separately, Nortel said it filed new audited consolidated financial statements for the past several years to reflect the change in the company’s reporting structure. The company said the changes won’t affect its financial situation.
