Nokia 2012 Annual Report Download - page 281

Nokia has not guaranteed any of the Nokia Siemens Networks borrowings and thus these are non-
recourse to Nokia. All Nokia Siemens Networks Finance B.V. borrowings above are guaranteed by
Nokia Siemens Networks Oy and/or Nokia Siemens Networks BV.
In October 2012, Nokia issued a EUR 750 million convertible bond that matures in October 2017. The
bond includes a voluntary conversion option starting from December 2012 until maturity. Based on initial
conversion price, voluntary conversion of the entire bond would result in the issue of 287 million shares.
In December 2011, Nokia Siemens Networks entered into a EUR 1 255 million committed forward
starting credit facility effective from the forward start date of June 1, 2012. By April 2012 the committed
facility had been increased to EUR 1 500 million. The facility replaced EUR 2 000 million revolving
credit facility from 2009 that matured in June 2012. EUR 1 500 million committed facility comprised in
two equal parts, EUR 750 million revolving credit facility maturing in June 2015 and EUR 750 million
term loan maturing in June 2013. In December 2012, EUR 150 million of the term loan was prepaid
and the maturity of the remaining EUR 600 million term loan was extended to March 2014.
Of the Nokia Siemens Networks’ EUR Finnish Pension Loan, EUR EIB R&D Loan and EUR Nordic
Investment Bank Loan EUR 44 million, EUR 100 million and EUR 45 million respectively are included
in current maturities as of 31 December, 2012.
The following table below is an undiscounted cash flow analysis for both financial liabilities and
financial assets that are presented on the balance sheet, and off-balance sheet instruments such as
loan commitments according to their remaining contractual maturity. Line-by-line reconciliation with the
balance sheet is not possible.
At 31 December 2012
Total
amount
Due within
3 months
Due between
3 and
12 months
Due between
1 and
3 years
Due between
3 and
5 years
Due beyond
5 years
EURm EURm EURm EURm EURm EURm
Non-current financial assets
Long-term loans receivable ........... 217 1 2 46 37 131
Current financial assets
Current portion of long-term loans
receivable ....................... 40 12 28 — — —
Short-term loans receivable .......... 1 1 — — — —
Investments at fair value through profit
and loss ......................... 493 1 5 11 260 216
Available-for-sale investment ......... 6008 5782 119 82 25 —
Cash ............................. 3504 3504 — — — —
Cash flows related to derivative financial
assets net settled:
Derivative contracts - receipts ..... 240 78 (30) 86 25 81
Cash flows related to derivative financial
assets gross settled:
Derivative contracts - receipts ..... 13864 10299 3072 41 41 411
Derivative contracts - payments . . . (13 596) (10 212) (2 959) (17) (17) (391)
Accounts receivable(1) ............... 4579 3952 615 12 — —
Non-current financial liabilities
Long-term liabilities ................. (6642) (111) (163) (2 933) (1 123) (2 312)
Current financial liabilities
Current portion of long-term loans ..... (216) (83) (133) — — —
Short-term liabilities ................. (262) (207) (55) — — —
Cash flows related to derivative financial
liabilities net settled:
Derivative contracts - payments . . . (99) (2) (3) (7) (7) (80)
Cash flows related to derivative financial
liabilities gross settled:
Derivative contracts - receipts ..... 7966 6964 889 113 — —
Derivative contracts - payments . . . (8 016) (6 999) (903) (114) — —
Accounts payable .................. (4394) (4 241) (136) (17) — —
Contingent financial assets and liabilities
Loan commitments given, undrawn(2) . . (34) (28) (6) — — —
Loan commitments obtained,
undrawn(3) ....................... 2261 46 (11) 727 1 499 —
F-80