Capital Issuance - May 2026

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 25 June 2026

Key points

• Gross capital issuance by UK residents was £78.1 billion in May, compared to £72.5 billion in April and the previous six-month average of £66.0 billion (Chart 1).
• Net capital issuance was £7.8 billion in May, compared to £5.0 billion in April and the previous six-month average of £5.4 billion (Chart 1).
• The £2.9 billion increase in net capital issuance was driven by an increase in gross issuance of £5.6 billion, offset by an increase in gross repayments of £2.7 billion.

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 £78.1 billion in May, compared to £72.5 billion in April and the previous six-month average of £66.0 billion (Chart 1).
• Net capital issuance was £7.8 billion in May, compared to £5.0 billion in April and the previous six-month average of £5.4 billion (Chart 1).
• Year to date gross issuance was £362.1 billion, £29.5 billion higher than at the same point the previous year (Chart 2). This is £81.5 billion higher than the previous four-year average.
• Year to date net issuance was £35.8 billion, £6.5 billion higher than at the same point the previous year (Chart 3). This is £18.4 billion higher than the previous four-year average.

Non seasonally adjusted

Non seasonally adjusted

Non seasonally adjusted

Bond issuance

• Gross bond issuance was £45.9 billion in May, compared to £30.5 billion in April and the previous six-month average of £33.8 billion (Chart 4).
• Net bond issuance was £13.2 billion in May, compared to £0.0 billion in April and the previous six-month average of £4.8 billion (Chart 4).
• The increase in net issuance was driven by an increase in gross issuance of £12.7 billion by the MFI sector.

Non seasonally adjusted

Commercial paper issuance

• Gross commercial paper issuance was £31.2 billion in May, compared to £41.5 billion in April and the previous six-month average of £31.6 billion (Chart 5).
• Net commercial paper issuance was -£3.0 billion in May, compared to £7.6 billion in April and the previous six-month average of £3.7 billion (Chart 5).
• The decrease in net issuance was driven by a decrease in gross issuance of £11.5 billion by the MFI sector.

Non seasonally adjusted

Equity issuance

• Gross equity issuance was £1.0 billion in May, compared to £0.5 billion in April and the previous six-month average of £0.7 billion (Chart 6).
• Net equity issuance was -£2.4 billion in May, compared to -£2.7 billion in April and the previous six-month average of -£3.1 billion (Chart 6).
• The increase in net issuance was driven by an increase in gross issuance of £0.6 billion by the PNFC sector.

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

Next release date: 27 July 2026

More information

• Capital issuance by UK-residents (all currencies) - May 2026 (XLSX 0.1MB)

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

• Bankstats tables (ZIP)Opens in a new window
• Further details about capital issuance data
• View and download more capital issuance data

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