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Debt information

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

Funding programmes

Program

Program size (millions)

Program documents

Euro Medium Term Note

EUR 5 000

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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

6.75%

4-Feb-2009

4-Feb-2019

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Nokia Corporation EMTN EUR 500 1.00% 15-Mar-2017 15-Mar-2021 See related download
Nokia Corporation EMTN EUR 750 2.00% 15-Mar-2017 15-Mar-2021 See related download

Nokia Corporation

SEC Reg. Shelf

USD 500

3.375%

12-June-2017

12-June-2022

See related download

Nokia Corporation

SEC Reg. Shelf

USD 500

4.375%

12-June-2017

12-June-2022

See related download


Credit ratings

Our credit worthiness helps us make efficient use of international capital and loan markets. Nokia’s ratings as of 9 October, 2017 were:

S&P

Moody's

BB+ (Stable)

Ba1 (Stable)


INTEREST-BEARING LIABILITIES, Nokia, reported (unaudited)

 

 

 

 

Issuer/Borrower

 

 

 

 

Instrument

 

 

 

 

Currency

 

 

 

 

 

Nominal (million)

 

 

 

 

 

Final maturity

Carrying amount (EUR million)

 

June 30, 2017

Carrying amount
(EUR million)

 

June 30, 2016

Carrying 

amount 

(EUR

million)

 

December 31, 2016

 

Alcatel-Lucent S.A.

0% OCEANE convertible Bond

EUR

0 January 2019

0

29

0

 
Nokia Corporation

6.75% Senior Notes 1

EUR

231

February 2019 245

534

527

 
Nokia Corporation

5.375% Senior Notes 2

USD

581

May 2019 517

936

961

 
Alcatel-Lucent S.A.

0.125% OCEANE convertible Bond

EUR

0

January 2020 0

21

0

 
Nokia Corporation 1.00% Senior Notes 1 EUR 500 March 2021 498 0 0  
Nokia Corporation 3.375% Senior Notes 2 USD 500 June 2022 431 0 0  
Nokia Corporation

2.00% Senior Notes 1

EUR

750

March 2024 743

0

0

 
Nokia Corporation

4.375% Senior Notes 2

USD

500 June 2027 428 0 0  
Alcatel-Lucent USA Inc.

6.5% Senior Notes 1,2

USD

74 January 2028 65 272 287  
Alcatel-Lucent USA Inc. 6.45% Senior Notes 1,2 USD 206 March 2029 183

1,240

1,306

 
Nokia Corporation 6.625% Senior Notes USD 500 May 2039 446 473 482  
Nokia Corporation Revolving credit facility EUR 1579 June 2020 0 0 0  
Nokia Corporation and various subsidiaries Other liabilities 3       397 405 464  
Total         3,953 3,910 4,027  

1 In March 2017 Nokia issued EUR 500 million 1.00% Senior Notes due 2021 and EUR 750 million 2.00% Senior Notes due 2024 under our 5 billion Euro Medium-Term Note Programme. The proceeds of the new notes were used to redeem (nominal amounts) EUR 269 million of the 2019 Euro Notes, USD 86 million of the 2028 USD Notes and USD 401 million of the 2029 USD Notes and for general corporate purposes.

2 In June 2017, Nokia issued USD 500 million 3.375% Senior Notes due 2022 and USD 500 million 4.375% Senior Notes due 2027 under U.S. Securities Act of 1933, as amended. The proceeds of the new notes were used to redeem (nominal amounts) USD 419 million of the 2019 USD notes, USD 140 million of the 2028 USD Notes and USD 753 million of 2029 USD Notes and for general corporate purposes.

This line includes liabilities related to French R&D tax credits (i.e. “Crédits d’Impôt Recherche”) of EUR 62 million (EUR 132 million June 30, 2016 and EUR 132 million December 31, 2016) that have been sold to banks on a recourse basis and hence not derecognized from the consolidated statement of financial position.

All Nokia borrowings are senior unsecured and have no financial covenants.

 

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