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 | Inactive |
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 Notes1 | 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 | 351 | 332 | |||
| Total | 5,937 | 4,277 | 3,820 |
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 2020.3 The loan from the Nordic Investment Bank (NIB) is repayable in three equal annual installments in 2023, 2024 and 2025.
3 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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