Issuance strategy

Domestic borrowing
According to Economic Survey, August 2019 the central government financing requirement is:

​Central government financing requirement
​Kr. billion       2019
​Net financing requirement​       15
Purchase of bonds to finance social housing​       69
​Redemptions of bonds etc.1       66
​Repayments of short-term debt​       31
​Financing requirement   ​      180

1Including payments from the central government in currency and interest swaps and net bond purchases of state  owned funds.

Note: According to Economic Survey, August 2019 ​ ​

The target for issuance of government bonds in 2019 is increased from kr. 65 billion to kr. 75 billion. The larger issuance target reflects an increase of around kr. 20 billion in the central government's purchases of bonds issued for financing of social housing compared to the estimate from December. It is due to early prepayment of fixed-rate mortgage bonds. The remainder of the increased borrowing requirement will be covered by drawing on the central government's account. The focus is on issuance in the 2-year and 10-year nominal bonds.  

​Central government financing requirement
​Kr. billion2019
​​Issuance of government bonds via auctions and tap ​75
Issuance of T-bills ​30
​Issuance via switch operations​ 11
Drawing on the central-government's account 64
Financing, total ​180

Foreign borrowing
The strategy is not to issue foreign bonds in 2019. Issuance can be conducted in the Commercial Paper-programs.