NEW YORK—Nortel Networks Corp. said it will earn $1.3 billion from two public offerings of 25,000 equity units and 550 million of its common shares.
The company, which is scheduling the offering for June 12, said the offerings represent about a $500 million increase in net proceeds.
“The proceeds to Nortel Networks of the offerings will be used for general corporate purposes, or advanced to or otherwise invested in its subsidiaries to be used for general corporate purposes,” said the company in a statement.
