SEOUL, March 29 (Xinhua) — South Korea’s corporate bond sale posted a double-digit growth last month owing to the issuance to refinance debts, financial watchdog data showed Monday.
The corporate bond issuance came in at 19.28 trillion won (17 billion U.S. dollars) in February, up 42.2 percent from the previous month, according to the Financial Supervisory Service.
It came as industrial companies issued bonds to refinance the maturing debts. Demand also increased to borrow money for operating funds.
Bond, issued by industrial companies, jumped 50.2 percent over the month to 6.79 trillion won (6 billion U.S. dollars) in February.
The issuance by financial firms surged 40 percent last month, and the sale of asset-backed securities (ABS) advanced 12.3 percent.
The equity financing, including the initial public offering (IPO) and rights issuance, amounted to 684.6 billion won (604.7 million U.S. dollars) in February, down 64.2 percent from the prior month. Enditem