Capital Issuance - October 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 November 2020

Please note that, due to the reduced number of working days over the festive period, the November Capital Issuance Statistical Release will now be published on Monday 4 January 2021

Key points

  • Total gross capital issuance by UK residents was £41.6bn in October, £7.1bn higher than in September but £6.9bn lower than the previous six month average.
  • Total gross bond issuance by the PNFC sector was £6.7bn in October, £2.7bn higher than in September but £0.1bn lower than the previous six month average.
  • Total gross equity issuance by the OFC sector was £1.3bn in October, £1.3bn higher than in September and £1.1bn 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 £41.6bn in October, compared to £34.4bn in September and the previous six month average of £48.5bn (Chart 1).
  • Net capital issuance was £7.7bn in October, compared to -£8.1bn in September and the previous six month average of £7.2bn (Chart 1).
  • Year-to-date gross issuance was £456.4bn, £63.5bn higher than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £68.7bn, £26.2bn 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 £24.2bn in October, compared to £20.0bn in September and the previous six month average of £26.8bn (Chart 4).
  • Net bond issuance was £3.6bn in October, compared to -£8.1bn in September and the previous six month average of £4.0bn (Chart 4).
  • The increase in net issuance was driven largely by an increase in issuance by the PNFC sector combined with a decrease in repayments by both the PNFC and MFI sectors.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £13.5bn in October, compared to £11.2bn in September and the previous six month average of £18.8bn (Chart 5).
  • Net commercial paper issuance was £0.4bn in October, compared to -£2.9bn in September and the previous six month average of £0.4bn (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 £3.9bn in October, compared to £3.2bn in September and the previous six month average of £2.9bn (Chart 6).
  • Net equity issuance was £3.7bn in October, compared to £2.9bn in September and the previous six month average of £2.7bn (Chart 6).
  • The increase in net issuance was driven by an increase in issuance by the OFC 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
  • CP = Commercial paper
  • Other sectors = Other sectors contains public corporations and non-profit institutions serving households

Queries

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

Next release date: 4 January 2021

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

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