Capital Issuance - August 2019

Capital issuance statistics consist of UK-based primary market issuance of bonds, commercial paper and equity, representing finance raised in the UK.
Published on 26 September 2019

Key points

  • Gross issuance fell to £31.6bn in August from £45.2bn in July. This was primarily driven by a decrease in bond issuance.
  • Net bond issuance fell to -£2.6bn in August from £7.6bn in July. This was driven by a decrease in issuance across all sectors.
  • Net equity issuance fell to -£3.4bn in August from -£0.2bn in July. This was driven by both a decrease in issuance and an increase in repayments.

In addition to the summary statistics contained within this release and the associated tables, the Bank publishes a number of more granular series; please see our Bankstats tables (E3.1) and the full list of series and interactive charts.

 

All sectors

  • Gross capital issuance by UK residents was £31.6bn in August, compared to £45.2bn in July and the previous six month average of £39.5bn (Chart 1).
  • Net issuance was -£7.4bn in August, compared to £9.8bn in July and the previous six month average of £4.8bn (Chart 1).
  • Year-to-date gross issuance was £303.9bn, £6.2bn lower than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £29.1bn, £33.9bn lower than at the same point the previous year (Chart 3).

Chart 1: Total capital issuance by UK-residents (all currencies)

Non seasonally adjusted

 
Total capital issuance by UK-residents

Chart 2: Gross year to date capital issuance by UK-residents (all currencies)

Non seasonally adjusted
Gross year to date capital issuance by UK-residents

Chart 3: Net year to date capital issuance by UK-residents (all currencies)

Non seasonally adjusted
Net year to date capital issuance by UK-residents

Bond issuance

  • Gross bond issuance was £14.5bn in August, compared to £26.1bn in July and the previous six month average of £23.0bn (Chart 4).
  • Net bond issuance was -£2.6bn in August, compared to £7.6bn in July and the previous six month average of £5.0bn (Chart 4).
  • The decrease in net issuance was driven by a decrease in issuance across all sectors.

Chart 4: Bond issuance by UK-residents (all currencies)

Non seasonally adjusted

Bond issuance by UK-residents

Commercial paper issuance

  • Gross commercial paper issuance was £16.9bn in August, compared to £17.5bn in July and the previous six month average of £14.7bn (Chart 5).
  • Net commercial paper issuance was -£1.4bn in August, compared to £2.4bn in July and the previous six month average of £0.0bn (Chart 5).
  • The decrease in net issuance was driven by an increase in repayments by the MFI sector.

Chart 5: Commercial paper issuance by UK-residents (all currencies)

Non seasonally adjusted

Commercial Paper issuance by UK-residents

Equity issuance

  • Gross equity issuance was £0.2bn in August, compared to £1.6bn in July and the previous six month average of £1.8bn (Chart 6).
  • Net equity issuance was -£3.4bn in August, compared to -£0.2bn in July and the previous six month average of -£0.1bn (Chart 6).
  • The decrease in net issuance was driven by an increase in buybacks by the OFC and PNFC sectors.

Chart 6: Equity issuance by UK-residents (all currencies)

Non seasonally adjusted

Equity issuance by UK-residents

Key:

  • PNFC = Private non-financial corporation
  • MFI = Monetary financial institutions
  • OFC = Other financial corporations
  • Other sectors = Other sectors contains public corporations and non-profit institutions serving households
  • CP = Commercial paper

ExcelCapital issuance by UK-residents (all currencies)

Next release date: 25 October 2019

Further data are available in Table E3.1 of our latest Bankstats tables.

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