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176448
Growth in debts despite fewer new loans
statistikk
2014-08-13T10:00:00.000Z
Banking and financial markets
en
obligasjoner, Debt securities, share issues, bonded debt, bonds, commercial paper debt, securities debtSecurities markets , Banking and financial markets
false
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, Q2 2014

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 fewer new loans

In the 2nd quarter of 2014, relatively moderate values were registered of new commercial papers issued by Norwegian entities. Nevertheless, a drop in the redemption of loans and a reduced monetary value led to a 3 per cent growth in Norwegian entities’ outstanding bond and commercial paper debt.

Gross issues of bonds and short-term securities. Number of issues and nominal value of issues in NOK millionPublished 13 August 2014
Bonds issued in NorwayShort-term paper issued in NorwayDebt securities abroad
NumberAmountNumberAmountNumberAmount
 
June 201410143 1989734 7588238 995
May 201410248 4618719 05210452 774
April 20147730 6888816 77710763 632
March 201410457 3638131 01714179 478
February 20149234 9598916 69613960 375
January 201411146 10710020 43414782 042
December 201311130 4937254 4586325 324
November 201310435 7138616 566111111 814
October 20138733 8958219 15713872 682
September 201310632 1139478 53915792 262
August 20135618 3808417 90015367 888
July 20133616 7584912 90213864 318
June 201310031 0099970 34313461 418

Source: Statistics Norway

In Norway, 280 issues of bonds and 272 issues of commercial papers valued at NOK 193 billion were registered during the 2nd quarter of 2014. 11 per cent of the value referred to issues by “rest of the world”. The corresponding part of their issues in Norway in the 2nd quarter of 2013 was 6 per cent.

The major part of the volume of issues in Norway, NOK 122 billion, referred to bonds. Compared to the 2nd quarter of 2013, the number of issues in Norway was at the same level while the amount of issues was reduced by 16 per cent. In the same period, Norwegian entities also issued 293 bonds and commercial papers abroad, valued at NOK 155 billion. Compared to the 2nd quarter of 2013, the number and value of these issues were reduced by 16 per cent and 25 per cent respectively.

Still considerable volumes of issues by the general government in Norway

A major part of the volume of issues in Norway still refers to the general government, but their part of the volume was reduced from 53 per cent in the 2nd quarter of 2013 to 39 per cent in the 2nd quarter of 2014. This reduction is due to a decrease in amounts caused by rollovers/swap arrangements in which new treasury bills have replaced old treasury bills at their time of maturity. The second largest part of the issues - 30 per cent - referred to financial corporations. Their corresponding part of the issues in the 2nd quarter of 2013 was 25 per cent. 20 per cent of the issues referred to non-financial corporations.

The major part of the volume of issues by Norwegian entities abroad, a total of 76 per cent, referred to financial corporations.

Growth in Norwegian entities’ outstanding debts in currencies other than NOK

The face value of outstanding bond and short-term security debts referring to issues in Norway amounted to NOK 1 857 billion at the end of June 2014. This is an increase of approximately 1 per cent compared to the end of June 2013. The largest part of the debts, 44 per cent, referred to financial corporations. The second largest part of the debts, 28 per cent, referred to the general government. The average market value of the domestic bond debt was 2.6 per cent higher than the face value, while the market value of the domestic commercial paper debt was 0.4 per cent lower than the face value.

87 per cent of the outstanding bond and short-term security debt from issues in Norway referred to Norwegian borrowers at the end of June 2014. At the same time, Norwegian entities’ outstanding bond and short-term security debts abroad amounted to NOK 1 514 billion. As a result of this, Norwegian entities’ outstanding bond and short-term security debts in Norway and abroad amounted to NOK 3 121 billion at the end of June 2014.

A major part of such debt in Norway is raised in NOK, while Norwegian entities’ bond and short-term security debts abroad is raised in EUR, USD, JPY or other currencies to some extent. From June 2013 to June 2014, NOK depreciated particularly against EUR, USD and GBP. This, and a drop in the redemption of loans, led to a 3 per cent growth in Norwegian entities’ outstanding bond and commercial paper debt.