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.
Contact investor relations
Nokia Investor Relations