S.Korea’s corporate bond sale posts double-digit fall in August
Source: Xinhua | 2020-09-29
South Korea’s corporate bond sale posted a double-digit fall last month amid economic uncertainty from the COVID-19 outbreak, financial watchdog data showed Monday.
A combined 14.59 trillion won (12.4 billion U.S. dollars) worth of corporate bonds was issued in August, down 17.6 percent from the previous month, according to the Financial Supervisory Service (FSS).
Industrial companies floated 1.58 trillion won (1.3 billion U.S. dollars) worth of bonds in August, down 54.3 percent from the prior month.
Bonds issued by financial companies slipped 12.4 percent in the month, but the sale of asset-backed securities (ABS) advanced 18.4 percent.
Corporate equity financing, including initial public offering (IPO) and rights issuance, amounted to 545.2 billion won (464.3 million U.S. dollars) in August, down 73.6 percent from a month earlier.
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