World

S.Korea's corporate bond sale grows in November

SEOUL
2022-12-28 10:34

Already collect



SEOUL, Dec. 28 (Xinhua) -- South Korea's corporate bond sale logged a double-digit growth last month after halving in the previous month, financial watchdog data showed Wednesday.

The issuance of corporate bonds amounted to 9.6 trillion won (7.6 billion U.S. dollars) in November, up 15.8 percent from a month earlier, according to the Financial Supervisory Service (FSS).

It came after the 49.5 percent drop in October, caused by rapid interest rate hikes. The country's central bank raised its policy rate since August last year from a record low of 0.50 percent to 3.25 percent.

Concerns lingered here over credit crunch following the belated pledge to repay bonds, sold by a local insurer and a local government-backed real estate developer.

Bonds, sold by financial companies, advanced 25.8 percent from a month earlier to 7.54 trillion won (5.9 billion dollars) in November, while industrial companies-issued bonds plunged 57.5 percent to 590 billion won (466 million dollars).

The issuance of asset-backed securities (ABS) soared 61.8 percent to 1.47 trillion won (1.2 billion dollars).

Equity financing, including initial public offering (IPO) and rights issuance, stood at 610.4 billion won (481.8 million dollars) in November, up 25.2 percent from the prior month.
Add comments

Latest comments

Latest News
News Most Viewed