Debt securities, Q2 2009

In Norway, 865 issues of debt securities, valued at NOK 563.4 billion, were registered during the first half of 2009. 165 of the issues, valued at NOK 154.9 billion, were registered in June 2009. Compared with the first half of 2008, the number of issues fell by 9.3 per cent, while the amount of issues rose by 129.4 per cent. There were issued more commercial papers (462) than bonds (403), but the value of the issues were relatively equal between short- and long debt securities.

Considerable issues of covered bonds and government securities

By groups of issuers, a major part of issues up to and during the first half of 2008 referred to commercial and savings banks. In the first half of 2009, however, the largest amounts (NOK 236.9.and 177.9 billion) referred to the central government and ‘other financial corporations’ respectively. A considerable part of the issues refers to covered bonds issued by mortgage companies and government securities, which has been exchanged as from November 2008 according to an authorisation from the Norwegian parliament to the Ministry of Finance in October 2008. The value of issues by municipalities and publicly owned enterprises rose, while the value of issues by non-financial corporations and ‘rest of the world’ declined compared with the first half of 2008.

Marginal changes in Norwegian entities’ issues outside Norway

During the first half of 2009, Norwegian entities issued 1 354 bonds and commercial papers valued at NOK 492.4 billion abroad. 235 of the issues, valued at NOK 59.6 billion, were registered in June 2009.The number of issues fell by about 9 per cent, while the amount was at the same level as the in the first half of 2008. The major part refers to issues by banks. But while other financial corporations issued the second largest amount in the first half of 2008, non-financial corporations issued the second largest amount in the first half of 2009.

Continued growth in outstanding debt securities

Outstanding bond and short-term securities in Norway at the end of June 2009 amounted to

NOK 1 376 billion; an increase of more than 40 per cent compared with the end of June last year. Norwegian entities’ outstanding bond and short-term securities abroad amounted to NOK 1 163 billion. A total of 35 per cent of Norwegian entities’ debts in Norway and abroad fall due in 2009 or 2010.

Tables:

• Table 1 Gross issues of bonds and short-term securities per month. Number of issues and nominal value of issues in NOK million
• Table 2 Bonds issued in Norway. Nominal value. NOK million
• Table 3 Domestic bond debts. Nominal value. NOK million
• Table 4 Commercial papers issued in Norway. Nominal value. NOK million
• Table 5 Domestic commercial papers debt. Nominal value. NOK million
• Table 6 Domestic bond and commercial papers debts at the end of June 2009. Nominal value. NOK million
• Table 7 Bonds and short-term securities issued by Norwegians abroad. Nominal value. NOK million
• Table 8 Norwegian entities' bonds and short-term securities debts abroad at the end of June 2009 at maturity. Nominal value. NOK million
• Table 9 Issues of bonds in Norway. Number and nominal value. NOK million
• Table 10 Issues of commercial papers in Norway. Number and nominal value. NOK million
• Table 11 Bonds and short-term securities issued abroad by issuing sector. Number of issues and nominal value of issued. NOK million