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Continuous growth of security debts
statistikk
2016-02-22T10:00:00.000Z
Banking and financial markets
en
obligasjoner, Debt securities, share issues, bonded debt, bonds, commercial paper debt, securities debtSecurities markets , Banking and financial markets
true
The statistics provide an overview of the bond and commercial paper market in Norway, as well as an overview of bonds and commercial papers issued by Norwegian borrowers abroad.

Debt securities, Q4 2015

Variants of the statistics:

In May 2016, the Debt securities statistics were merged with the statistics for Securities registered with the Norwegian Central Securities Depository. The new merged statistics are known as the Securities statistics.

Content

Published:

Continuous growth of security debts

In the 4th quarter of 2015, considerable values were registered for new debt securities issued by Norwegian entities. Norwegian entities’ outstanding debt from securities rose by 5 per cent during 2015 in spite of redemptions at the end of the year.

Gross issues of debt securities. Number of issues and face value of issues in NOK millionPublished 22 February 2016
Long-term debt securities issued in NorwayShort-term debt securities issued in NorwayDebt securities issued abroad
NumberAmountNumberAmountNumberAmount
 
December 20156721 8307727 3524320 411
November 20157227 32210819 0527246 856
October 20157534 67210028 591130119 674
September 20159128 63312937 4736767 185
August 20156320 7237917 1028936 689
July 20153712 678477 6516547 016
June 201510137 5729636 5068737 680
May 20158335 2308418 1409664 110
April 20156622 4887718 3836760 035
March 20159047 60612035 61512573 646
February 20157032 5108417 14710189 570
January 20156729 5188024 4379568 353
December 20146620 3108426 4625821 201

Source: Statistics Norway

The nominal value of outstanding amounts from debt securities referring to issues in Norway amounted to NOK 1 899 billion at the end of December 2015. This is a growth of 1 per cent compared to the end of December 2014. Eighty-seven per cent of the outstanding amounts from debt securities issued in Norway referred to Norwegian issuers.

Growth in Norwegian entities’ security debts abroad in spite of redemptions

At the end of December 2015, outstanding amounts from debt securities issued by Norwegian entities abroad amounted to NOK 1 837 billion; a growth of 8 per cent during 2015. While a major part of debt securities in Norway are issued in NOK, debt securities are issued by Norwegian entities abroad in other currencies. Depreciation of the NOK had an impact on these debts, particularly those in USD, EUR, GBP and JPY, which led to the growth in spite of large redemptions at the end of the year.

Stable market shares of domestic debts

The largest share of the outstanding amounts from debt securities issued in Norway, 42 per cent, referred to financial corporations. The second largest share of the debts, 29 per cent, referred to the general government.

Changes in market values of outstanding amounts

While the average market value of outstanding amounts from issues of long-term debt securities in Norway was 2.5 per cent higher than the face value at the end of 2014, the corresponding increase at the end of 2015 was just 0.4 per cent. In the same period, the market value of outstanding amounts from issues of short-term debt securities in Norway rose from 0.4 per cent to 0.1 per cent below the face value.

Large volumes of new debt securities in the 4th quarter of 2015

In Norway, 285 issues of long-term securities and 159 issues of short-term securities valued at NOK 159 billion were registered in the 4th quarter of 2015. The major part of the issues in Norway, i.e. NOK 84 billion, related to long-term debt securities.

Compared to the 4th quarter of 2014, the number and amount of issues in Norway rose by 1 per cent and 15 per cent respectively. This is due to an increase in issues by banks and financial corporations other than banks. In the same period, Norwegian entities also issued 245 debt securities abroad, valued at NOK 187 billion. Compared to the 4th quarter of 2014, the number of issues was at the same level, while the amount of the issues rose by 12 per cent.

Considerable changes in market shares of issues abroad

The share of the volume of issues by the general government abroad was reduced from 27 per cent in the 4th quarter of 2014 to 12 per cent in the 4th quarter of 2015. However, the share of the volume of issues by banks rose from 50 per cent to 68 per cent in the same period.

Increase in rest of the world’s share of new debt securities in Norway

The share of the volume of issues by the general government in Norway was reduced from 47 per cent in the 4th quarter of 2014 to 46 per cent in the 4th quarter of 2015. In the same period, financial corporations’ share of the volume of issues rose from 25 per cent to 33 per cent. The share of the volume for the rest of the world was reduced from 8 per cent to just four per cent at the end of 2015.