Nokia 2015 Annual Report Download - page 183

Download and view the complete annual report

Please find page 183 of the 2015 Nokia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 216

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216

181
Financial statements
NOKIA IN 2015
The composition of interest-bearing liabilities at December31:
EURm Issuer/Borrower Final Maturity 2015 2014
Revolving Credit Facility (EUR 1 500 million)(1) Nokia Corporation June 2018 ––
USD Bond 2039 (USD 500 million 6.625%) Nokia Corporation May 2039 459 412
USD Bond 2019 (USD 1 000 million 5.375%) Nokia Corporation May 2019 919 824
EUR Bond 2019 (EUR 500 million 6.75%) Nokia Corporation February 2019 500 500
EUR Convertible Bond 2017 (EUR 750 million 5%)(2) Nokia Corporation October 2017 –750
Dierences between Bond nominal and
carryingvalues(3) Nokia Corporation 68 21
Other liabilities(4) Nokia Corporation and various subsidiaries 128 185
Total 2 074 2 692
(1) In 2015, the Group renanced its undrawn EUR 1 500 million Revolving Credit Facility maturing in March 2016 with a new similar size facility maturing in June 2018. The new facility remains undrawn and
has two one-year extension options and no nancial covenants.
(2) In 2015, the Group exercised its option to redeem the EUR 750 million convertible bonds at their principal amount outstanding plus accrued interest. Virtually all bondholders elected to convert their
convertible bonds into Nokia shares before redemption.
(3) Includes mainly fair value adjustments for bonds that are designated under fair value hedge accounting and in 2014 also the dierence between convertible bond nominal value and carrying value of
the nancial liability component.
(4) Includes EUR 4 million (EUR 8 million in 2014) of non-interest bearing payables 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.
Nokia Corporation is the issuer or borrower in all material borrowings. All of the borrowings are senior unsecured and have no nancialcovenants.