Nokia signs revolving credit facility with its pricing mechanism linked to the company's sustainability targets

19.06.2019 klo 09:30 Nokia signs revolving credit facility with its pricing mechanism linked to the company's sustainability targets

June 19, 2019

Espoo, Finland - Nokia announced today the signing of a EUR 1,500 million five-
year multicurrency revolving credit facility ("RCF") with two one-year extension
options and introduced a sustainability pricing mechanism linking the margin of
the RCF to two of Nokia's key sustainability targets:

1) Reduction of greenhouse gas emissions attributed to Nokia's operations and;
2) Reduction of greenhouse gas emissions attributed to Nokia's customers' use of
Nokia's products

Nokia's targets include a 41% greenhouse gas emission reduction of its own
operations and a 75% greenhouse gas emission reduction arising from the use of
sold products by 2030 compared to the 2014 baseline. The margin of the RCF will
increase or decrease depending on Nokia's progress towards reaching these

Nokia's sustainability targets are accepted by Science Based Targets, ensuring
that Nokia's greenhouse gas emissions targets and paths towards those targets
are independently validated to be in line with the Paris Agreement goal "to hold
the increase in global average temperature to well below 2°C above pre-
industrial levels and to pursue efforts to limit the increase to 1.5°C above
pre-industrial levels". Science Based Targets is a collaboration between the
international not-for-profit organization CDP, the United Nations Global Compact
(UNGC), World Resources Institute (WRI), and the World Wide Fund for Nature

Kristian Pullola, Chief Financial Officer (CFO) at Nokia, said: "We're delighted
with the strong support and commitment from our key banking partners in this
refinancing transaction that connects our financing strategy with our
sustainability priorities."

Karoliina Loikkanen, Head of Corporate Responsibility at Nokia, said: "Linking
the pricing of the revolving credit facility to our sustainability targets is an
important step towards demonstrating our broad-based commitment to our
sustainability priorities. Our sustainability vision is to create the technology
to connect the world, in a responsible way."

The RCF will replace the EUR 1,579 million revolving credit facility agreement
dated 26 June 2015.

  * Web page: Sustainability at Nokia

About Nokia
We create the technology to connect the world. We develop and deliver the
industry's only end-to-end portfolio of network equipment, software, services
and licensing that is available globally. Our customers include communications
service providers whose combined networks support 6.1 billion subscriptions, as
well as enterprises in the private and public sector that use our network
portfolio to increase productivity and enrich lives.

Through our research teams, including the world-renowned Nokia Bell Labs, we are
leading the world to adopt end-to-end 5G networks that are faster, more secure
and capable of revolutionizing lives, economies and societies. Nokia adheres to
the highest ethical business standards as we create technology with social
purpose, quality and integrity.  www.nokia.com

Media Inquiries:

Nokia Communications
Phone: +358 (0) 10 448 4900
E-mail: press.services@nokia.com

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Source: NOKIA via GlobeNewswire