Capital Issuance - January 2021

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 February 2021

Key points

  • Total capital issuance by all UK residents was £40.6bn in January, £4.0bn higher than in December and £3.4bn higher than the previous six month average.
  • Total bond issuance by the OFC sector was £8.5bn in January, £4.6bn higher than in December and £2.2bn higher than the previous six month average.
  • Total commercial paper issuance by the MFI sector was £11.4bn in January, £2.5bn higher than in December and £2.9bn higher than the previous six month average.
  • Total equity issuance by the PNFC sector was £0.2bn in January, £1.4bn lower than in January and £2.0bn 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 £40.6bn in January, compared to £36.6bn in December and the previous six month average of £37.2bn (Chart 1).
  • Net capital issuance was £0.2bn in January, compared to -£2.5bn in December and the previous six month average of -£1.6bn (Chart 1).

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

Non seasonally adjusted

Bond issuance

  • Gross bond issuance was £22.6bn in January, compared to £21.1bn in December and the previous six month average of £20.9bn (Chart 2).
  • Net bond issuance was -£3.3bn in January, compared to -£1.5bn in December and the previous six month average of -£2.9bn (Chart 2).
  • The decrease in net issuance was driven by a decrease in issuance and an increase in repayments by the MFI sector.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £17.7bn in January, compared to £13.3bn in December and the previous six month average of £13.6bn (Chart 3).
  • Net commercial paper issuance was £3.5bn in January, compared to -£3.0bn in December and the previous six month average of -£1.1bn (Chart 3).
  • The increase in net issuance was driven by an increase in issuance by both the MFI and PNFC sectors, combined with a decrease in repayments by the PNFC sector.

Chart 3: Commercial paper issuance by UK-residents (all currencies)

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £0.2bn in January, compared to £2.2bn in December and the previous six month average of £2.6bn (Chart 4).
  • Net equity issuance was £0.0bn in January, compared to £2.0bn in December and the previous six month average of £2.4bn (Chart 4).
  • The decrease in net issuance was driven by a decrease in issuance by both the PNFC and OFC sectors.

Chart 4: 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: 25 March 2021

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

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