NOKIA CORP | CIK:0000924613 | 3

  • Filed: 3/22/2018
  • Entity registrant name: NOKIA CORP (CIK: 0000924613)
  • Generator: Merrill
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/924613/000155837018002320/0001558370-18-002320-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/924613/000155837018002320/nok-20171231.xml
  • XBRL Cloud Viewer: Click to open XBRL Cloud Viewer
  • EDGAR Dashboard: https://edgardashboard.xbrlcloud.com/edgar-dashboard/?cik=0000924613
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  • ifrs-full:DisclosureOfBorrowingsExplanatory

    23. Interest-bearing liabilities

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Carrying amount EURm

    Issuer/borrower

        

    Instrument

        

    Currency

        

    Nominal (million)

        

    Final maturity

        

    2017

        

    2016

    Nokia Corporation

     

    6.75% Senior Notes(1)

     

    EUR

     

    231

     

    February 2019

     

    241

     

    527

    Nokia Corporation

     

    5.375% Senior Notes(2)

     

    USD

     

    581

     

    May 2019

     

    487

     

    961

    Nokia Corporation

     

    1.00% Senior Notes(1)

     

    EUR

     

    500

     

    March 2021

     

    498

     

     –

    Nokia Corporation

     

    3.375% Senior Notes(2)

     

    USD

     

    500

     

    June 2022

     

    406

     

     –

    Nokia Corporation

     

    2.00% Senior Notes(1)

     

    EUR

     

    750

     

    March 2024

     

    744

     

     –

    Nokia Corporation

     

    4.375% Senior Notes(2)

     

    USD

     

    500

     

    June 2027

     

    404

     

     –

    Nokia of America Corporation

     

    6.5% Senior Notes(1)(2)

     

    USD

     

    74

     

    January 2028

     

    62

     

    287

    Nokia of America Corporation

     

    6.45% Senior Notes(1)(2)

     

    USD

     

    206

     

    March 2029

     

    174

     

    1 306

    Nokia Corporation

     

    6.625% Senior Notes

     

    USD

     

    500

     

    May 2039

     

    424

     

    482

    Nokia Corporation

     

    Revolving Credit Facility

     

    EUR

     

    1 579

     

    June 2020

     

     –

     

     –

    Nokia Corporation and various subsidiaries

     

    Other liabilities(3)

     

      

     

      

     

      

     

    326

     

    464

    Total

     

      

     

      

     

      

     

      

     

    3 766

     

    4 027

     

    (1)

    In March 2017, the Group issued EUR 500 million 1.00% Senior Notes due 2021 and EUR 750 million 2.00% Senior Notes due 2024 under the 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, the Group 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 the 2029 USD Notes and for general corporate purposes.

    (3)

    Includes liabilities related to the French research and development tax credits (Crédits d’Impôt Recherche) of EUR 62 million (EUR 132 million in 2016) that have been sold to banks on a recourse basis and hence remain on the consolidated statement of financial position.

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

    Changes in interest-bearing liabilities arising from financing activities:

     

     

     

     

     

     

     

     

     

     

        

    Long-term interest-bearing liabilities

        

    Short-term interest-bearing liabilities

        

    Derivatives held to hedge long-term borrowings

        

    Total

    As of January 1, 2017

     

    3 657

     

    370

     

    (30)

     

    3 997

    Cash flows

     

    132

     

    (40)

     

    (49)

     

    43

    Non-cash changes:

     

     

     

     

     

     

     

     

    Acquisitions

     

     –

     

     4

     

     –

     

     4

    Translation differences

     

    (291)

     

    (12)

     

    199

     

    (104)

    Changes in fair value

     

    (46)

     

     –

     

    15

     

    (31)

    Other

     

     5

     

    (13)

     

     –

     

    (8)

    As of December 31, 2017

     

    3 457

     

    309

     

    135

     

    3 901