Capital Issuance - June 2021

The capital issuance statistics consist of non-government primary market issuance of bonds, commercial paper and equity, representing finance raised by UK resident entities.
Published on 27 July 2021

Key points

  • Total capital issuance by all UK residents was £43.4bn in June, £5.9bn higher than in May and £0.5bn higher than the previous six month average.
  • Net capital issuance was -£5.7bn in June, compared to £4.2bn in May and the previous six month average of £2.7bn
  • Net bond issuance was -£5.4bn in June, compared to £3.8bn in May and the previous six month average of £2.3bn.

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 £43.4bn in June, compared to £37.5bn in May and the previous six month average of £42.9bn (Chart 1).
  • Net issuance was -£5.7bn in June, compared to £4.2bn in May and the previous six month average of £2.7bn (Chart 1).
  • Year-to-date gross issuance was £264.0bn, £41.2bn lower than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £13.3bn, £57.6bn lower 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 year-to-date 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 £29.4bn in June, compared to £21.1bn in May and the previous six month average of £25.2bn (Chart 4).
  • Net bond issuance was -£5.4bn in June, compared to £3.8bn in May and the previous six month average of £2.3bn (Chart 4).
  • The decrease in net issuance was primarily driven by an increase in repayments by the MFI and OFC sectors.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £12.0bn in June, compared to £14.1bn in May and the previous six month average of £15.5bn (Chart 5).
  • Net commercial paper issuance was -£1.2bn in June, compared to -£0.9bn in May and the previous six month average of -£1.1bn (Chart 5).
  • Net commercial paper issuance fell slightly in June, as a decrease in issuance by the PNFC and OFC sectors was largely offset by a decrease in repayments by the PNFC sector.

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

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £2.0bn in June, compared to £2.4bn in May and the previous six month average of £2.2bn (Chart 6).
  • Net equity issuance was £1.0bn in June, compared to £1.3bn in May and the previous six month average of £1.5bn (Chart 6).
  • The decrease in net issuance was driven by a fall in issuance by the PNFC sector, partly offset by an increase by the OFC sector.

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

Non seasonally adjusted

Key:

  • PNFC = Private non-financial corporations
  • MFI = Monetary financial institutions
  • OFC = Other financial corporations
  • “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.co.uk.

Next release date: 26 August 2021

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

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