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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

Inactive


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

SEC Reg. Shelf

USD 1 000

5.375%

7-May-2009

15-May-2019

See related download

Nokia Corporation

SEC Reg. Shelf

USD 500

6.625%

7-May-2009

15-May-2039

See related download


Credit ratings

Our credit worthiness helps us make efficient use of international capital and loan markets. Nokia’s ratings as of 15 June, 2016 were:

 

S&P

Moody's

Short-term

A-3

NP

Long-term

BB+

Ba1

INTEREST-BEARING LIABILITIES, Nokia, reported (unaudited)

 

 

 

 

Issuer/Borrower

 

 

 

 

Instrument

 

 

 

 

Currency

 

 

 

 

 

Nominal (million)

 

 

 

 

 

Final maturity

Carrying amount (EUR million)

 

March 31, 2017

Carrying amount
(EUR million)

 

March 31, 2016

Carrying 

amount 

(EUR

million)

 

December 31, 2016

 

Nokia Corporation

Revolving credit facility1

EUR

1 579 June 2019

0

0

0

 
Nokia Corporation

6.625% senior notes

USD

500

May 2039 474

455

482

 
Alcatel-Lucent USA Inc.

6.45% senior notes

USD

959

March 2029 908

1 209

1 306

 
Alcatel-Lucent USA Inc.

6.5% senior notes

USD

214

January 2028 202

265

287

 
Nokia Corporation 2.0% senior notes EUR 750 March 2024 743 0 0  
Nokia Corporation 1.0% senior notes EUR 500 March 2021 498 0 0  
Alcatel-Lucent S.A.

0.125% OCEANE convertible bond

EUR

0

January 2020 0

105

0

 
Nokia Corporation

5.375% senior notes

USD

1 000 May 2019 944 913 961  
Nokia Corporation

6.75% senior notes

EUR

231 February 2019 248 537 527  
Alcatel-Lucent S.A. 0% OCEANE convertible bond EUR 0 January 2019 0

356

0

 
Nokia Corporation and various subsidiaries Other liabilities2       395 400 464  
Total         4 412 4 240 4 027  

1 The facility has a one-year extension option remaining, no financial covenants and it remains undrawn.

2 This line includes liabilities related to French R&D tax credits (i.e. “Crédits d’Impôt Recherche”) of EUR 134 million (EUR 211 million March 31, 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.

In February 2017 Nokia announced that it commenced an offer to purchase the outstanding EUR 500 million 6.75% notes due February 4, 2019 issued by Nokia Corporation; and the outstanding USD 300 million 6.50% notes due January 15, 2028 and USD 1 360 million 6.45% notes due March 15, 2029 issued by Alcatel-Lucent USA Inc., up to a maximum cash consideration of USD 1 000 million. The purpose of the Tender Offer was to manage the overall indebtedness of Nokia. In March 2017 the Tender Offer expired and Nokia received tenders for EUR 268.8 million (53.76%) of the 2019 EUR Notes, USD 86.0 million (28.66%) of the 2028 USD Notes and USD 400.9 million (29.48%) of the 2029 USD Notes.

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 EUR 5 billion Euro Medium-Term Note Programme. The proceeds of the new notes are intended to fund the Tender Offer and for general corporate purposes.

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

 

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Financial reports, investor kits and general information

Financial reports, investor kits and general information

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