Capital Issuance - August 2020

Capital issuance statistics consist of UK-based primary market issuance of bonds, commercial paper and equity, representing finance raised in the UK.
Published on 25 September 2020

Key points

  • Total capital issuance by UK residents was £29.7bn in August, £15.1bn lower than in July and £21.7bn lower than the previous six month average.
  • Total bond issuance by the MFI sector was £6.7bn in August, £7.1bn lower than in July and £7.9bn lower than the previous six month average.
  • Total commercial paper issuance by UK residents was £13.6bn in August, £3.5bn lower than in July and £6.5bn lower than the previous six month average.
  • Total equity issuance by the PNFC sector was £0.2bn in August, £1.5bn lower than in July and £2.2bn lower than the previous six month average.

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 £29.7bn in August, compared to £44.8bn in July and the previous six month average of £51.3bn (Chart 1).
  • Net issuance was -£2.2bn in August, compared to -£0.3bn in July and the previous six month average of £10.9bn (Chart 1).
  • Year-to-date gross issuance was £380.4bn, £81.5bn higher than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £69.1bn, £45.1bn higher than at the same point the previous year (Chart 3).

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

Non seasonally adjusted

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

Non seasonally adjusted

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

Non seasonally adjusted

Bond issuance

  • Gross bond issuance was £15.9bn in August, compared to £25.9bn in July and the previous six month average of £28.7bn (Chart 4).
  • Net bond issuance was -£0.2bn in August, compared to -£2.7bn in July and the previous six month average of £7.1bn (Chart 4).
  • The increase in net issuance was primarily driven by a decrease in repayments by the OFC sector.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £13.6bn in August, compared to £17.1bn in July and the previous six month average of £20.0bn (Chart 5).
  • Net commercial paper issuance was -£2.1bn in August, compared to £0.7bn in July and the previous six month average of £1.4bn (Chart 5).
  • The decrease in net issuance was driven by a decrease in issuance by the PNFC sector.

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

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £0.2bn in August, compared to £1.8bn in July and the previous six month average of £2.7bn (Chart 6).
  • Net equity issuance was £0.0bn in August, compared to £1.7bn in July and the previous six month average of £2.4bn (Chart 6).
  • The decrease in net issuance was driven by a decrease in issuance by the PNFC sector.

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

Non seasonally adjusted

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

Queries

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

Next release date: 27 October 2020

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

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