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140806
Growth in debts despite decrease in issues
statistikk
2013-11-13T10:00:00.000Z
Banking and financial markets
en
obligasjoner, Debt securities, share issues, bonded debt, bonds, commercial paper debt, securities debtSecurities markets , Banking and financial markets
false

Debt securities, Q3 2013

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.

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Growth in debts despite decrease in issues

The values of issues of bonds and commercial papers in Norway were moderate in the 3rd quarter of 2013 compared with the 3rd quarter of last year. Otherwise, a growth in Norwegian entities’ outstanding debt was registered in the same period, mainly due to issues abroad.

Gross issues of bonds and short-term securities. Number of issues and nominal value of issues in NOK millionPublished 13 November 2013
Bonds issued in NorwayShort-term paper issued in NorwayDebt securities abroad
NumberAmountNumberAmountNumberAmount
 
September 201310632 1139478 53915692 221
August 20135618 3808417 90014766 304
July 20133616 7584912 90213663 803
June 201310031 0099970 34313461 418
May 20139846 8399021 0479586 663
April 20138837 8007422 74411556 820
March 20139434 02511080 02512172 296
February 201310131 6738617 10413162 881
January 201310358 7268518 04713488 900
December 20129124 9987091 8288437 738
November 201212338 54510321 17910190 567
October 20127531 9078721 22810956 235
September 201210834 86711485 78010148 989

Source: Statistics Norway

In Norway, 198 issues of bonds and 227 issues of commercial papers valued at NOK 177 billion were registered during the 3rd quarter of 2013. Compared to the 3rd quarter of 2012, the number and amount of issues were reduced by 23 per cent. Ninety-six per cent of the issues in the 3rd quarter of 2013, NOK 169 billion, referred to issues by Norwegian entities. In the same period, Norwegian entities also issued 439 bonds and commercial papers abroad, valued at NOK 222 billion. Compared to the 3rd quarter of 2012, the number of issues rose by 3 per cent, while the value of such issues was reduced by the same percentage.

Increase in issues by the general government and decrease in other issues

Sixty-seven per cent of the volume of issues in Norway in the 3rd quarter of 2013, NOK 118 billion, referred to the general government. This is an increase of 5 per cent compared to their share of issues in the 3rd quarter last year. The second largest part of the issues; 17 per cent, or NOK 31 billion, referred to financial corporations. This is a decrease of a total of 25 per cent compared to the corresponding share of issues in the 3rd quarter of 2012. NOK 21 billion, or 12 per cent, referred to non-financial corporations; a decrease of 11 per cent compared to the corresponding share of issues in the 3rd quarter last year.

The major part of the volume of issues by Norwegian entities abroad, 85 per cent (NOK 189 billion), referred to financial corporations.

Continued growth in Norwegian entities’ outstanding debts

The nominal value of outstanding bond and short-term security debts referring to issues in Norway amounted to NOK 1 874 billion at the end of September 2013. This is an increase of 6 per cent compared to the end of September 2012. The largest part of the debts, 46 per cent, or NOK 861 billion, referred to financial corporations. The second largest part of the debts, 29 per cent, or NOK 547 billion, referred to the general government. The average market value of the domestic bond debt was 1.75 per cent higher than the nominal value, while the market value of the domestic commercial paper debt was 0.5 per cent lower than the nominal value.

Eighty-eight per cent, or NOK 1 657 billion, of the outstanding bond and short-term security debt from issues in Norway referred to Norwegian borrowers at the end of September 2013. At the same time, Norwegian entities’ outstanding bond and short-term security debts abroad amounted to NOK 1 373 billion. As a result of this, Norwegian entities’ outstanding bond and short-term security debts in Norway and abroad amounted to NOK 3 030 billion at the end of September 2013. This is an increase of 4 per cent compared with the end of September last year.

A major part of such debt in Norway is raised in NOK, while a major part of Norwegian entities’ bond and short-term security debts abroad is raised in EUR, USD, GBP or JPY, or other currencies to some extent. A total of 43 per cent of Norwegian entities’ bond and commercial paper debts in Norway and 29 per cent of their bond and commercial paper debts abroad fall due within a period of two years.