This particular deal point is interesting to me: Microsoft will also immediately make available to Nokia EUR 1.5 billion of financing in the form of three EUR

This particular deal point is interesting to me: Microsoft will also immediately make available to Nokia EUR 1.5 billion of financing in the form of three EUR 500 million tranches of convertible notes that Microsoft would fund from overseas resources. If Nokia decides to draw down on this financing option, Nokia would pay back these notes to Microsoft from the proceeds of the deal upon closing. The financing is not conditional on the transaction closing. Sounds like Nokia may be running into a cash crunch? They specify that the financing is not dependent on the transaction closing - so it seems as if Nokia needs the money either way, and if the transaction closes they will repay MSFT.