SEOUL– Sales of short-term corporate bonds in South Korea declined 22.2 percent in the third quarter of 2022 from a year earlier mainly due to a sharp fall in the general short-term bond issuance, data showed Tuesday.
Local firms floated 250.9 trillion won (US$175 billion) worth of short-term bonds in the July-September period, compared with 322.6 trillion won from a year earlier, according to the data from the Korea Securities Depository (KSD).
Compared with the previous quarter, the amount was down 20.7 percent.
Short-term bonds refer to those that come due within one year, with the minimum amount of 100 million won or more per issue.
The KSD said 99.9 percent of the short-term bonds issued in the third quarter mature within three months.
The issuance of general short-term bonds nose-dived 38.6 percent on-year to 165.2 trillion won, while sales of securitized bonds floated by special purpose companies (SPCs) and other firms, such as asset backed and project financing backed short-term bonds, jumped 59.6 percent to 85.7 trillion won.
Source: Yonhap News Agency