Debt securities, 2011

In 2011, bonds were issued for NOK 295 billion in Norway. Compared with 2010, the value of the issues of bonds rose by 12 per cent.

Mortgage companies still dominate the domestic bond market

By groups of issuers, mortgage companies dominated the market with NOK 128.2 billion in 2011; an increase of 73 per cent compared with 2010. The second largest amount of bond issues in 2011, NOK 66.9 billion, referred to banks. Compared with 2010, the value of their issues was reduced by 9 per cent. Nevertheless, the amount was higher than the amount of issues in 2009. The third largest amount of issues, NOK 40.4 billion, referred to rest of the world. Compared with last year, the amount of their issues rose by 3 per cent. The total value of issues by other borrowing sectors in 2011 amounted to NOK 59 billion, a reduction of 21 per cent compared with 2010 and significantly less than repayments.

Continuous increase in bond debt, but marginal change in market share of debt

The nominal value of the outstanding bond debt in Norway at the end of 2011 amounted to NOK 1 357 billion; an increase of 5 per cent compared with the end of 2010. The market share of the debt has been relatively stable over the last few years. Mortgage companies had the strongest increase in their debts in 2011, by 22 per cent. Thirty-six per cent and 21 per cent of the debt at the end of 2011 referred to mortgage companies and banks respectively. Central government’s share of the debt at the end of the year was 18 per cent, while the rest of the world’s share of the debt was 12 per cent.

Moderate growth in market values

The market value of the domestic bond debt was 101 per cent of the nominal value at the end of 2011 and 99 per cent at the end of 2010. The market values were generally higher than the nominal values of bonds issued by the general government, state and municipal enterprises and banks. For other bonds, the market values were generally lower than the nominal values.

Tables:

• Table 1 Domestic bond debts, 31 December 2010 and 2011. Issues, payments and other changes (gross) in 2011, by issuing sector. Nominal value. NOK million
• Table 2 Domestic bond debts, by issuing sector. Nominal value and weighted nominal interest rate. 31 December 2009, 2010 and 2011. NOK million and per cent
• Table 3 Domestic bond issues, by issuing sector and weighted nominal interest rates. 2009, 2010 and 2011. NOK million and per cent
• Table 4 Domestic bond debts, by issuing sector. 31 December 2002-31 December 2011. Nominal value. NOK million
• Table 5 Domestic bond debts, by issuing sector. 31 December 2002-31 December 2011. Market value. NOK million
• Table 6 Issues of bonds in Norway, by issuing sector. 31 December 2002-31 December 2011. Nominal value. NOK million
• Table 7 Bonds issued in Norway per 31 December 2011. Sorted by ISIN
• Table 8 Bonds issued in Norway per 31 December 2011. Sorted by issuer's name
• Table 9 Bonds with changes in issuer name, sector or organisation number since 2010