On Monday, Shares of Nokia Corporation (NYSE:NOK), lost -1.68% to $7.01.
LG Electronics has agreed to take a royalty-bearing smartphone patent license from Nokia Technologies. The Korean company is the latest of more than 60 licensees for Nokia’s 2G, 3G and 4G mobile communication technologies and the first major smartphone manufacturer to join the licensing program since Nokia divested its Devices & Services business to Microsoft in 2014.
- The detailed royalty payment obligations will be subject to commercial arbitration, predictable to conclude within a 1-2 year timeframe.
- Other terms of the agreement remain confidential between the two companies.
Nokia Corporation, together with its auxiliaries, provides network infrastructure and related services in Finland, the United States, Japan, China, India, the Russian Federation, Germany, Taiwan, Indonesia, Italy, and internationally.
Shares of Citizens Financial Group, Inc. (NYSE:CFG), inclined 1.34% to $27.91, during its last trading session.
Citizens Financial Group, declared its plans to release second quarter 2015 results on Tuesday, July 21 at 7:00 am ET.
Citizens Financial Group, Inc. operates as the bank holding company for Citizens Bank, N.A. and Citizens Bank of Pennsylvania that provide retail and commercial banking products and services in the United States. It operates through two segments, Consumer Banking and Commercial Banking.
Finally, WP GLIMCHER Inc. (NYSE:WPG), ended its last trade with -0.52% loss, and closed at $13.33.
Washington Prime Group, declared that the Company has reached a new 5-year, $500 million term loan. The Company used the proceeds to fully repay the remainder of the Company’s outstanding bridge loan that was used to finance the January 2015 acquisition of Glimcher Realty Trust and for other general corporate purposes.
The aggregate principal balance of the term loan will be due upon maturity on March 2, 2020. The loan bears interest at LIBOR plus 1.15% based on the Company’s current debt rating. The Company anticipates to fix all or a portion of the variable interest rate exposure on the term loan by entering into an interest swap arrangement in the near term.
The Company issued a statement from Mark S. Ordan, Chairman and Michael P. Glimcher, CEO: “We are happy to have this new term loan in place and the bridge loan fully repaid, demonstrating our access to low-cost, longer term debt capital.”
Washington Prime Group Inc. (NYSE:WPG.WI) operates independently of Simon Property Group Inc. as of May 28, 2014.
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