S. Korean corporate bond sales surge in April

S. Korean corporate bond sales surge in April
SEOUL, May 6 (Yonhap) -- South Korea's corporate bond issuance surged 170 percent
on-year in April as companies scrambled to raise funds amid an economic slowdown,
the nation's securities depository said Wednesday.

Local companies sold 6.87 trillion won (US$5.4 billion) worth of debts last
month, compared with 2.54 trillion won a year ago, the Korea Securities
Depository said in a report.
The companies paid back 2.44 trillion won of bonds last month, bringing their net
debt sales to 4.42 trillion won, the depository said.
The South Korean economy, Asia's fourth-largest, remains swamped in a prolonged
downturn, putting a growing number of companies in financial straits.
pbr@yna.co.kr
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