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Debt information

Funding programmes

We aim at maintaining flexibility in funding by keeping credit facilities and funding programmes available.

Program Program size (millions) Program documents
Euro Medium Term Note EUR 5,000 Download document
SEC Reg. Shelf Indeterminate Active


Debt capital market issuances

Issuer Program Amount (millions) Coupon
(p.a.)
Issue date Maturity Term sheets
Nokia Corporation EMTN EUR 350 1.00% 15-Mar-2017 15-Mar-2021 Download document
Nokia Corporation EMTN EUR 750 2.00% 15-Mar-2017 15-Mar-2024 Download document
Nokia Corporation EMTN EUR 500 2.375% 15-May-2020 15-May-2025 Download document
Nokia Corporation EMTN EUR 750 2.00% 11-Mar-2019 11-Mar-2026 Download document
Nokia Corporation EMTN EUR 500 3.125% 15-May-2020 15-May-2028 Download document
Nokia Corporation SEC Reg. Shelf USD 500 3.375% 12-June-2017 12-June-2022 See related downloads at the bottom of the page
Nokia Corporation SEC Reg. Shelf USD 500 4.375% 12-June-2017 12-June-2027 See related downloads at the bottom of the page
Nokia Corporation SEC Reg. Shelf USD 500 6.625% 15-May-2009 15-May-2039 See related downloads at the bottom of the page


Credit ratings

Our credit worthiness helps us make efficient use of international capital and loan markets. Nokia’s ratings as of 30 September, 2020 were:

Fitch Moody's S&P
BBB- (stable) Ba2 (stable) BB+ (negative)

INTEREST-BEARING LIABILITIES, Nokia, reported (unaudited)

Issuer/Borrower Instrument Currency Nominal (million) Final maturity Carrying amount (EUR million) June 30, 2020 Carrying amount
(EUR million)
December 31, 2019
Nokia Corporation 1.00% Senior Notes1 EUR 350 March 2021 350 499
Nokia Corporation 3.375% Senior Notes USD 500 June 2019 459 445
Nokia Corporation 2.00% Senior Notes  EUR 750 March 2024 764 766
Nokia Corporation EIB R&D Loan Facility2 EUR 500 February 2025 500 0
Nokia Corporation NIB R&D Loan3 EUR 250 May 2025 250 250
Nokia Corporation 2.375% Senior Notes1 EUR 500 May 2025 496 0
Nokia Corporation 2.00% Senior Notes EUR 750 March 2026 763 765
Nokia Corporation 4.375% Senior Notes USD 500 June 2027 492 452
Nokia of America Corporation 6.50% Senior Notes USD 74 January 2028 66 66
Nokia Corporation 3.125% Senior Notes1 EUR 500 May 2028 497 0
Nokia of America Corporation 6.45% Senior Notes USD 206 March 2029 186 185
Nokia Corporation 6.625% Senior Notes USD 500 May 2039 596 517
Nokia Corporation Revolving credit facility4 EUR 1,500 June 2025 0 0
Nokia Corporation and various subsidiaries Other liabilities       518 332
Total         5,937 4,277

1 Nokia issued EUR 500 million 2.375% Senior Notes due 2025 and EUR 500 million 3.125% Senior Notes due 2028 under its EUR 5 billion Euro Medium-Term Note Programme in May 2020. The proceeds of the new notes were partially used to redeem EUR 150 million of the 1.00% Senior Notes due 2021.

2 Nokia drew EUR 500 million loan from the European Investment Bank (EIB) in February 2020.

3The loan from the Nordic Investment Bank (NIB) is repayable in three equal annual installments in 2023, 2024 and 2025.

4 Nokia exercised its option to extend the maturity date of the Revolving Credit Facility in June 2020. Subsequent to the extension, the facility has its maturity in June 2025 with a one-year extension option remaining, except for EUR 88 million having its maturity in June 2024.

All borrowings presented above are senior unsecured and have no financial covenants.

 

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