Capital Issuance - June 2019

Capital issuance statistics consist of issuance and repayments of bonds, commercial paper and equity in all currencies by UK-resident issuers, and in sterling by non-UK resident issuers, representing finance raised in capital markets.
Published on 25 July 2019

Key points

  • Net bond issuance fell to £1.3bn in June from £11.3bn in May. This was mainly driven by an increase in repayments by the MFI sector.
  • Net equity issuance rose to £0.2bn in June from -£0.8bn in May. This was driven by a decrease in repayments by the PNFC sector, combined with an increase in issuance by both the OFC and MFI sectors. 

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 £37.9bn in June, compared to £43.0bn in May and the previous six month average of £38.1bn (Chart 1).
  • Net issuance was -£0.6bn in June, compared to £9.2bn in May and the previous six month average of £5.9bn (Chart 1).
  • Year-to-date gross issuance was £227.0bn, £22.6bn lower than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £26.6bn, £28.7bn 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 £24.2bn in June, compared to £26.7bn in May and the previous six month average of £20.3bn (Chart 4).
  • Net bond issuance was £1.3bn in June, compared to £11.3bn in May and the previous six month average of £4.4bn (Chart 4).
  • The decrease in net issuance was mainly driven by an increase in repayments by the MFI sector.

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 £12.0bn in June, compared to £14.6bn in May and the previous six month average of £16.4bn (Chart 5).
  • Net commercial paper issuance was -£2.0bn in June, compared to -£1.3bn in May and the previous six month average of £1.9bn (Chart 5).

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 £1.6bn in June, compared to £1.8bn in May and the previous six month average of £1.4bn (Chart 6).
  • Net equity issuance was £0.2bn in June, compared to -£0.8bn in May and the previous six month average of -£0.4bn (Chart 6).
  • The increase in net issuance was driven by a decrease in repayments from the PNFC sector, combined with an increase in issuance from both the OFC and MFI sector. 

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: 28 August 2019

Further details

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

 

Queries

If you have any comments or queries with regard to this release please email DSDSecurities@bankofengland.gsi.gov.uk.

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