Invitation to tender
Increase of zero coupon Norwegian Treasury bill in series ISIN NO 0010667868, NST 21. Bills for a nominal value of NOK 3 billion will be sold by uniform price (Dutch) auction on Monday 4 February 2013. Settlement date is Wednesday 6 February 2013.
1. Issue terms
1.1 The issue terms for ISIN NO 0010667868 are set out in an invitation to tender dated 12 December 2012. The bill has fixed maturity at par value on 18 December 2013. The Government has the right to increase the size of the bill or reduce it by the amount of repurchased bills. The bills have a denomination of NOK 1000, and are registered in the Central Securities Depository (VPS) and listed on the Oslo Stock Exchange.
1.2 The outstanding amount is NOK 17 billion as of today's date. Following the increase, the Treasury bill series will consist of fungible bills with a nominal value of NOK 20 billion.
1.3 Yield to maturity:
2. Method of sale
1.41% per annum at a price of 98.8000%
1.53% per annum at a price of 98.7000%
1.65% per annum at a price of 98.6000%
1.77% per annum at a price of 98.5000%
1.89% per annum at a price of 98.4000%
2.1 Bills for a nominal value of NOK 3 billion will be offered by uniform price (Dutch) auction.
2.2 Primary dealers shall submit tenders from 10.15-11 am on 4 February 2013, in the trading system of the Oslo Stock Exchange. Others must submit their tenders through a primary dealer.
2.3 Tenders must be submitted only in lots of one million kroner, on the basis of face value. Bid prices must be stated to four decimal places. Norges Bank reserves the right to reject at its own discretion any tender or all tenders submitted.
3.1 The result of the auction will be announced on the Oslo Stock Exchange, Reuters pages NOCG/NOCI and Norges Bank's website http://www.norges-bank.no/english/government_debt/
3.2 Primary dealers shall send the contract note to Norges Bank in accordance with the information on the auction board.
4.1 Primary dealers shall enter the transaction in the VPS system on the auction date so that settlement takes place through VPO (the VPS settlement system). The bills will be finally registered in VPS on settlement date, Wednesday 6 February 2013, before 7 am.
4.2 In the event of delayed payment, interest on arrears accrues at the rate for interest on delayed payment stipulated by the Ministry of Finance. This rate is currently 8.50% per annum. Norges Bank may alternatively choose to cancel the whole or part of the allotment, or to sell the bills at the tenderer's expense and risk.
Oslo, 30 January 2013
Ministry of Finance