Capital Issuance - September 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 October 2021

Key points

  • Total gross capital issuance by all UK residents was £40.8bn in September, £2.9bn higher than in August but £2.4bn lower than the previous six month average.
  • Total net capital issuance was -£4.8bn in September, compared to £5.1bn in August and the previous six month average of £2.7bn.
  • Net bond issuance was -£4.0bn in September, compared to £8.1bn in August and the previous six month average of £3.0bn.
  • Gross equity issuance was £3.0bn in September, compared to £0.4bn in August and the previous six month average of £2.1bn.

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 £40.8bn in September, compared to £37.9bn in August and the previous six month average of £43.2bn (Chart 1).
  • Net issuance was -£4.8bn in September, compared to £5.1bn in August and the previous six month average of £2.7bn (Chart 1).
  • Year-to-date gross issuance was £380.9bn, £32.8bn lower than at the same point the previous year (Chart 2).
  • Year-to-date net issuance was £17.0bn, £42.9bn 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 £25.1bn in September, compared to £26.4bn in August and the previous six month average of £27.6bn (Chart 4).
  • Net bond issuance was -£4.0bn in September, compared to £8.1bn in August and the previous six month average of £3.0bn (Chart 4).
  • The decrease in net issuance was primarily driven by a decrease in issuance by the MFI sector combined with an increase in repayments across all three major sectors.

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

Non seasonally adjusted

Commercial paper issuance

  • Gross commercial paper issuance was £12.7bn in September, compared to £11.0bn in August and the previous six month average of £13.5bn (Chart 5).
  • Net commercial paper issuance was -£1.0bn in September, compared to -£1.2bn in August and the previous six month average of -£1.2bn (Chart 5).
  • Net commercial paper issuance remained relatively unchanged in September, as an increase in PNFC issuance was offset by an increase in both PNFC and OFC repayments.

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

Non seasonally adjusted

Equity issuance

  • Gross equity issuance was £3.0bn in September, compared to £0.4bn in August and the previous six month average of £2.1bn (Chart 6).
  • Net equity issuance was £0.2bn in September, compared to -£1.9bn in August and the previous six month average of £0.9bn (Chart 6).
  • The increase in net issuance was primarily driven by an increase in issuance across the PNFC and OFC sectors.

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

Non seasonally adjusted

Key

  • PNFC = Private non-financial corporation
  • MFI = Monetary financial institution
  • OFC = Other financial corporation
  • 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 November 2021

Give your feedback

Was this page useful?
Yes
No
Add your details...