Debt securities, Q2 2012

In Norway, 216 issues of bonds valued at NOK 73.9 billion and 276 issues of commercial papers valued at NOK 151.2 billion were registered during the second quarter of 2012. Compared to the first quarter of 2011, the number rose by 3 per cent while the amount was reduced by 10 per cent. 97 per cent of the issues in the second quarter of 2012 referred to issues by Norwegian entities. In the same period, Norwegian entities also issued 537 bonds and commercial papers valued at NOK 294.5 billion abroad. Compared to the second quarter last year, the number and amount of such issues was reduced by 18 per cent and 17 per cent respectively.

Large amounts of issues in Norway caused by general government

In the second quarter of 2012, 64 per cent of the volume of issues in Norway; NOK 143 billion, referred to the general government. The second largest part of the issues; NOK 49.9 billion or 11 per cent, referred to financial corporations.

Considerable issues by Norwegian banks abroad

The major part of the volume of issues by Norwegian entities abroad; 72 per cent (NOK 213 billion), referred to banks. The second largest part of the volume of such issues; NOK 59.3 billion, referred to ‘other financial corporations’.

Growth in Norwegian entities’ outstanding commercial paper debts

The nominal value of outstanding bond and short-term security debts referring to issues in Norway amounted to NOK 1 727.7 billion at the end of June 2012. This is an increase of 9 per cent compared to the end of June 2011. The largest part of the debts, 29 per cent, referred to ‘other financial corporations’. The second largest part of the debts, 27 per cent, referred to the central government and social security funds. The market value of the domestic bond debt was in general 1 per cent higher than the nominal value, while the market value of the domestic commercial paper debt was 0.4 per cent lower than the nominal value.

90 per cent of the debts in Norway at the end of June 2012; NOK 1 552.6 billion, referred to Norwegian borrowers. At the same time, Norwegian entities’ outstanding bond and short-term securities abroad amounted to NOK 1 377 billion; an increase of 14 per cent compared to the outstanding debt at the end of the second quarter of 2011. A major part of the debt in Norway is raised in NOK, while the major part of Norwegian entities’ debts abroad is raised in EUR, USD, GBP, JPY or, to some extent, in other currencies. A total of 40 per cent of Norwegian entities’ debts in Norway and abroad fall due within a period of two years.

Tables:

• Table 1 Gross issues of bonds and short-term securities. Number of issues and nominal value of issues in NOK million
• Table 2 Bonds issued in nominal value by borrowing sectors. NOK million
• Table 3 Bond debt in nominal value by borrowing sectors. NOK million
• Table 4 Debt from bonds issued in Norway in market value by borrowing sectors. NOK million
• Table 5 Commercial papers issued in nominal value by borrowing sectors. NOK million
• Table 6 Commercial paper debt in nominal value by borrowing sector. NOK million
• Table 7 Debt from commercial papers issued in Norway in market value by borrowing sector. NOK million
• Table 8 Domestic bond and commercial papers debts by issuing sector and remaining maturity at the end off June 2012. Nominal value. NOK million
• Table 9 Norwegian entities' bonds and short-term securities debts abroad at the end of June 2012 by issuing sector and remaining maturity. Nominal value. NOK million