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 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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