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S. Korea's corporate bond sale grows in H1

SEOUL
2024-07-23 10:47

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SEOUL, July 23 (Xinhua) -- South Korea's corporate bond sale grew in the first half of this year due to strong funding demand from both industrial and financial companies, financial watchdog data showed Tuesday.

The issuance of corporate bonds expanded 9.4 percent to 133.25 trillion won (96 billion U.S. dollars) in the January-June period compared to the same period of last year, according to the Financial Supervisory Service (FSS).

It marked the largest-ever corporate bond sale for the six-month period, the FSS noted.

Bonds, sold by industrial companies, gained 3.1 percent to 33.52 trillion won (24.1 billion dollars) in the cited period.

Financial companies-issued bonds climbed 13.1 percent to 92.49 trillion won (66.6 billion dollars), while the issuance of asset-backed securities (ABS) reduced 3.5 percent for the first six months of this year.

The country's central bank had left its benchmark interest rate unchanged at 3.50 percent since January last year.

Equity financing, including the initial public offering (IPO) and the rights issuance, came in at 5.08 trillion won (3.7 billion dollars) in the first half, up 85.5 percent from a year earlier.
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