Nortel and Export Development Canada Amend Support Facility: Facility Extended
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DECEMBER 17, 2007
TORONTO - Nortel Networks Corporation [NYSE/TSX: NT] announced that its principal operating subsidiary, Nortel Networks Limited, has amended its master facility agreement (the "Facility") with Export Development Canada. The amendment (i) extends the maturity date of the Facility to December 31, 2011, (ii) provides for automatic annual renewal each following year, unless either party notifies the other of its intent to terminate, and (iii) increases the maximum size of individual bonds supported under the Facility from US$10 million to US$25 million.
The total Facility is maintained at US$750 million, including the existing US$300 million of committed support for performance bonds and similar instruments.
About Nortel
Nortel is a recognized leader in delivering communications capabilities that make the promise of Business Made Simple a reality for our customers. Our next-generation technologies, for both service provider and enterprise networks, support multimedia and business-critical applications. Nortel's technologies are designed to help eliminate today's barriers to efficiency, speed and performance by simplifying networks and connecting people to the information they need, when they need it. Nortel does business in more than 150 countries around the world. For more information, visit Nortel on the Web at www.nortel.com. For the latest Nortel news, visit nortel.com/news.
Contacts for Press and Analysts:Media
Mohammed Nakhooda
(905) 863-7407
mohammna@nortel.com
