Capital Issuance - June 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 27 July 2020

Key points

  • Total capital issuance by UK residents was £71.6bn in June, £25.7bn higher than in May and £25.4bn higher than the previous six month average.
  • Total bond issuance by the PNFC sector was £12.7bn in June, £9.6bn higher than in May and £8.8bn higher than the previous six month average.
  • Total commercial paper issuance by the MFI sector was £20.2bn in June, £10.3bn higher than in May and £10.9bn higher than the previous six month average.
  • Total equity issuance by the PNFC sector was £3.8bn in June, £1.2bn lower than in May but £2.2bn 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 £71.6bn in June, compared to £45.9bn in May and the previous six month average of £46.2bn (Chart 1).
  • Net issuance was £28.0bn in June, compared to £5.3bn in May and the previous six month average of £8.8bn (Chart 1).Year-to-date gross issuance was £317.5bn, £95.4bn higher than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £82.2bn, £60.6bn 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 £35.3bn in June, compared to £18.9bn in May and the previous six month average of £24.6bn (Chart 4).
  • Net bond issuance was £12.3bn in June, compared to £1.9bn in May and the previous six month average of £5.3bn (Chart 4).
  • The increase in net issuance was driven by an increase in issuance by both the PNFC and OFC sectors.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £32.3bn in June, compared to £21.8bn in May and the previous six month average of £19.6bn (Chart 5).
  • Net commercial paper issuance was £11.9bn in June, compared to -£1.8bn in May and the previous six month average of £2.1bn (Chart 5).
  • The increase in net issuance was driven by an increase in issuance by the MFI sector.

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

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £4.0bn in June, compared to £5.3bn in May and the previous six month average of £2.0bn (Chart 6).
  • Net equity issuance was £3.8bn in June, compared to £5.2bn in May and the previous six month average of £1.4bn (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 August 2020

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

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