Nokia 2014 Annual Report Download - page 185

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183
Financial statements
NOKIA IN 2014
The composition of interest-bearing liabilities at December 31 is:
EURm Issuer/borrower Final maturity 2014 2013
Revolving Credit Facility (EUR 1 500 million) Nokia Corporation March 2016 ––
USD Bond 2039 (USD 500 million 6.625%) Nokia Corporation May 2039 412 364
USD Bond 2019 (USD 1000 million 5.375%) Nokia Corporation May 2019 824 727
EUR Bond 2019 (EUR 500 million 6.75%) Nokia Corporation February 2019 500 500
EUR Convertible Bond 2017 (EUR 750 million 5%) Nokia Corporation October 2017 750 750
EUR Bond 2014 (EUR 1 250 million 5.5%) Nokia Corporation February 2014 –1 250
EUR EIB R&D Loan Nokia Corporation February 2014 –500
Prepaid liabilities(1) Nokia Corporation April 2014 –1 500
Prepaid liabilities(2)
Nokia Solutions and Networks
Finance B.V. and Nokia
Solutions and Networks Oy June 2014 –958
Dierences between Bond nominal and carrying values(3) Nokia Corporation 21 (182)
Other liabilities(4)
Nokia Corporation and various
subsidiaries 185 295
Total 2 692 6 662
(1) On April 25, 2014 the Group completed the Sale of the D&S Business and EUR 500 million 1.125% convertible bonds due September 2018, EUR 500 million 2.5% convertible bonds due September
2019, and EUR 500 million 3.625% convertible bonds due September 2020, all issued by Nokia Corporation to Microsoft, were prepaid and netted against deal proceeds by the amount of principal
and accrued interest.
(2) On June 19, 2014 Nokia Solutions and Networks Finance B.V. redeemed the EUR 450 million 6.75% bonds due April 2018 and the EUR 350 million 7.125% bonds due April 2020. During the second
quarter 2014, Nokia Solutions and Networks Finance B.V. prepaid the EUR 88 million Finnish Pension Loan due October 2015, the EUR 50 million R&D Loan from the European Investment Bank, the
EUR 16 million Loan from the Nordic Investment Bank and cancelled the EUR 750 million Revolving Credit Facility due June 2015.
(3) Includes mainly fair value adjustments for bonds that are designated under fair value hedge accounting and the dierence between convertible bond nominal value and carrying value of the nancial
liability component.
(4) Includes EUR 8 million (EUR 76 million in 2013) of non-interest-bearing liabilities relating to cash held temporarily due to the divested businesses where Nokia Networks continues to perform services
within a contractually dened scope for a specied timeframe.
Upon completion of the above redemptions and cancellations, Nokia Corporation is the issuer or borrower in all material borrowings. All of these
borrowings are senior unsecured and have no nancial covenants.