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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 500 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 750 2.00% 11-Mar-2019 11-Mar-2026 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 April, 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) March 31, 2020 Carrying amount
(EUR million)
December 31, 2019
Nokia Corporation 1.00% Senior Notes EUR 500 March 2021 499 499
Nokia Corporation 3.375% Senior Notes USD 500 June 2019 475 445
Nokia Corporation 2.00% Senior Notes  EUR 750 March 2024 765 766
Nokia Corporation EIB R&D Loan Facility1 EUR 500 February 2025 500 0
Nokia Corporation NIB R&D Loan2 EUR 250 May 2025 250 250
Nokia Corporation 2.00% Senior Notes EUR 750 March 2026 764 765
Nokia Corporation 4.375% Senior Notes USD 500 June 2027 509 452
Nokia of America Corporation 6.50% Senior Notes USD 74 January 2028 69 66
Nokia of America Corporation 6.45% Senior Notes USD 206 March 2029 193 185
Nokia Corporation 6.625% Senior Notes USD 500 May 2039 620 517
Nokia Corporation Revolving credit facility3 EUR 1,500 June 2024 0 0
Nokia Corporation and various subsidiaries Other liabilities       351 332
Total         4,995 3,820

1 Nokia drew EUR 500 million loan from European Investment Bank (EIB) in February 2020. The loan facility agreement was signed in August 2018

2 Nokia drew an amortizing loan from Nordic Investment Bank (NIB) in May 2019. The loan is repayable in three equal annual installments in 2023, 2024 and 2025.

3 In June 2019, Nokia refinanced its EUR 1 579 million revolving credit facility maturing in June 2020 with EUR 1 500 million five-year revolving credit facility with two one-year extension options

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

 

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