Debt securities, Q3 2012

In Norway, 223 issues of bonds and 263 issues of commercial papers valued at NOK 186 billion were registered during the 3rd quarter of 2012. Compared to the 3rd quarter of 2011, the number of issues was reduced by 17 per cent, while the value rose by 10 per cent. Ninety-four per cent of the issues in the second quarter of 2012, NOK 176 billion, referred to issues by Norwegian entities. In the same period, Norwegian entities also issued 426 bonds and commercial papers valued at NOK 228.4 billion abroad. Compared to the 3rd quarter last year, the number and value of such issues were reduced by 33 per cent and 19 per cent respectively.

Large amounts of issues in Norway caused by general government

In the 3rd quarter of 2012, 60 per cent of the volume of issues in Norway; NOK 111.7 billion, referred to the general government. The second largest part of the issues; NOK 40.5 billion or 22 per cent, referred to financial corporations. NOK 23.3 billion, or 13 per cent, referred to non-financial corporations.

Considerable issues by Norwegian banks abroad

The major part of the volume of issues by Norwegian entities abroad, 72 per cent (NOK 165 billion), referred to banks. The second largest part of the volume of such issues, NOK 33.5 billion, referred to non-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 1 761.4 billion at the end of September 2012. This is an increase of 10 per cent compared to the end of September 2011. The largest part of the debts, 31 per cent, referred to the general government. The second largest part of the debts, 30 per cent, referred to “other financial corporations”. The market value of the domestic bond debt was in general 2 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.

Ninety per cent of the debts in Norway at the end of June 2012; NOK 1 581.9 billion, referred to Norwegian borrowers. At the same time, Norwegian entities’ outstanding bond and short-term securities abroad amounted to NOK 1 323 billion; an increase of 4 per cent compared to the outstanding debt at the end of the 3rd quarter of 2011. A major part of the debt in Norway is raised in NOK, while a 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 of September 2012. Nominal value. NOK million
• Table 9 Norwegian entities' bonds and short-term securities debts abroad at the end of September 2012 by issuing sector and remaining maturity. Nominal value. NOK million