Capital Issuance - February 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 26 March 2020

Key points

  • Total capital issuance by all UK residents was £43.6bn in February, £0.9bn higher than in January and £4.1bn higher than the previous six month average.
  • Gross bond issuance by the OFC sector was £11.0bn in February, £6.2bn higher than in January and £4.1bn higher than the previous six month average.
  • Gross equity issuance by the PNFC sector increased to £0.7bn in February, £0.6bn higher than in January and £0.4bn higher 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 £43.6bn in February, compared to £42.6bn in January and the previous six month average of £39.4bn (Chart 1).
  • Net issuance was £14.8bn in February, compared to £6.1bn in January and the previous six month average of £3.2bn (Chart 1).
  • Year-to-date gross issuance was £86.2bn, £26.3bn higher than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £20.9bn, £16.3bn 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 £26.3bn in February, compared to £22.6bn in January and the previous six month average of £22.1bn (Chart 4).
  • Net bond issuance was £12.2bn in February, compared to £2.3bn in January and the previous six month average of £3.2bn (Chart 4).
  • The increase in net issuance was driven by an increase in issuance by the OFC sector combined with a decrease in repayments by the MFI sector.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £16.3bn in February, compared to £19.8bn in January and the previous six month average of £16.7bn (Chart 5).
  • Net commercial paper issuance was £2.2bn in February, compared to £4.8bn in January and the previous six month average of £1.3bn (Chart 5).
  • The decrease in net issuance was primarily driven by a decrease in issuance by both the MFI and PNFC sectors.

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

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £1.0bn in February, compared to £0.3bn in January and the previous six month average of £0.6bn (Chart 6).
  • Net equity issuance was £0.4bn in February, compared to -£1.0bn in January and the previous six month average of -£1.3bn (Chart 6).
  • The increase in net issuance was driven by an increase in issuance, combined with a decrease in buybacks, 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: 29 April 2020

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

Was this page useful?
Add your details...