LONDON (Reuters) - JP Morgan is leading the 1.2 billion euro ($1.56 billion) loan backing Finnish mobile handset maker Nokia's 1.7 billion euro acquisition of Siemens' 50 percent stake in joint-venture Nokia Siemens Networks (NSN), banking sources said.
The new financing will cover the 1.2 billion euro cash portion due at the closing of the acquisition, with the balance to be paid in the form of a 500 million euro, one-year secured loan from Siemens.
The acquisition is expected to close in the third quarter of 2013.
Nokia is rated BB- by Standard & Poor's and Ba3 by Moody's.
NEW YORK (AP) — The price of oil advanced past $99 a barrel for just the second time this year as traders anticipate a sharp drop in U.S. supplies and watch developments in Egypt.
In Tuesday morning trading in New York, benchmark crude for August delivery was up 90 cents to $98.89 after rising as high as $99.17. The only other time oil rose above $99 this year was June 19, when it reached $99.21.
Protests in Egypt continued, as President Mohammed Morsi faced a military ultimatum that gives him until Wednesday to meet the demands of the millions who have taken to the streets seeking his ouster. Traders were concerned that the situation in Egypt, as well as and the civil war in Syria, could affect the production and transport of oil supplies in the Middle East and North Africa.
Traders are also awaiting the Energy Department's weekly report on U.S. stockpiles of crude oil on Wednesday. Data for the week ending June 28 is expected to show a draw of 3 million barrels in crude oil stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
That would be the first decline in four weeks, and the forecast is supporting oil prices.
At the pump the average price of a gallon of gas dropped another penny to $3.48, the lowest level since early February.
In London, Brent crude was up 51 cents at $103.51 a barrel on the ICE Futures exchange.
In other energy futures trading on Nymex:
— Natural gas gained 6 cents to $3.64 per 1,000 cubic feet.
— Heating oil added 1 cent to $2.89 per gallon.
— Wholesale gasoline rose 4 cents to $2.77 per gallon.
Pablo Gorondi in Budapest contributed to this report.
LONDON (Reuters) - Thomson Reuters Corp has agreed to buy the foreign exchange options business of Tradeweb Markets for an undisclosed amount, the company said on Tuesday.
Tradeweb Market's foreign exchange options business serves financial professionals such as pension fund managers and institutional investors who use the platform to trade options on major currencies.
The acquisition is part of a larger push by Thomson Reuters to expands its presence in foreign exchange. The global news and information company bought FX Alliance for $625 million last year.
Tradeweb's foreign exchange options clients will eventually migrate to the FXall and will have access to more liquidity and products.
FXall recorded 108 billion daily transactions in May.
Thomson Reuters tried to develop its own foreign exchange options platform in 2010 but abandoned those efforts in favor of acquisitions.
Thomson Reuters is the majority owner of Tradeweb; the other stakeholders are 10 banks including Morgan Stanley, Goldman Sachs and Credit Suisse. Thomson Reuters and Tradeweb declined to disclose the amount of the ownership stakes in Tradeweb.
(Reporting Jennifer Saba in New York and Anirban Nag in London Editing by Jeremy Gaunt)