Capital Issuance - November 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 30 December 2019

Key points

  • Total capital issuance by UK-residents fell to £36.7bn in November from £40.2bn in October.
  • Total bond issuance across all sectors decreased to £20.6bn in November, falling £6.6bn from the figure observed in October.
  • Total capital issuance by OFCs decreased to £10.6bn in November, falling from £14.0bn in October.

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 £36.7bn in November, compared to £40.2bn in October and the previous six month average of £42.0bn (Chart 1).
  • Net capital issuance was £3.4bn in November, compared to £4.9bn in October and the previous six month average of £4.9bn (Chart 1).
  • Year-to-date gross issuance was £429.6bn, £7.0bn higher than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £46.0bn, £30.6bn 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 £20.6bn in November, compared to £27.2bn in October and the previous six month average of £24.9bn (Chart 4).
  • Net bond issuance was £3.9bn in November, compared to £8.7bn in October and the previous six month average of £5.8bn (Chart 4).
  • The decrease in net issuance was driven by a £4.0bn fall in issuance by the OFC sector (Chart 4).

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 £15.6bn in November, compared to £12.1bn in October and the previous six month average of £16.0bn (Chart 5).
  • Net commercial paper issuance was -£0.2bn in November, compared to -£2.5bn in October and the previous six month average of £0.6bn (Chart 5).
  • The increase in net issuance was primarily driven by a £2.0bn rise in issuance by the MFI sector (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 £0.5bn in November, compared to £0.9bn in October and the previous six month average of £1.1bn (Chart 6).
  • Net equity issuance was -£0.4bn in November, compared to -£1.3bn in October and the previous six month average of -£1.4bn (Chart 6).
  • The decrease in net buybacks was driven by a reduction in buybacks by both the PNFC and OFC sectors (Chart 6).

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 January 2020

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

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