The issuance of corporate bonds amounted to 15.43 trillion won (11.5 billion U.S. dollars) in July, down 34.4 percent from a month earlier, according to the Financial Supervisory Service.
The double-digit fall came amid higher borrowing costs from the central bank, which had left its key rate unchanged at 3.50 percent since January after hiking it by 3.0 percentage points for the past one and a half years.
Bonds, sold by industrial companies, diminished 41.4 percent to 2.7 trillion won (2 billion dollars) in the cited month on weaker refinancing demand.
Financial companies-issued bonds plunged 27.5 percent to 12.19 trillion won (9.1 billion dollars), while the issuance of asset-backed securities dived 74.3 percent to 533.2 billion won (398.7 million dollars).
Equity financing, including initial public offering and rights issuance, stood at 640.9 billion won (479.2 million dollars) in July, up 58.6 percent from a month earlier.
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