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Korean Firms Expanded Short-Term Debt Funding Before Market Rout

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Korean Firms Expanded Short-Term Debt Funding Before Market Rout South Korean financial companies and other firms borrowed more money in short-term debt markets in the first half of the year amid an unprecedented stock market rally that gave way to a meltdown in recent weeks. They raised a total of 282.8 trillion won ($197.7 billion) through commercial paper in January-June, up 19% from the same period last year, according to a statement from the Financial Supervisory Service. Short-term...

Korean Firms Expanded Short-Term Debt Funding Before Market Rout South Korean financial companies and other firms borrowed more money in short-term debt markets in the first half of the year amid an unprecedented stock market rally that gave way to a meltdown in recent weeks. They raised a total of 282.8 trillion won ($197.7 billion) through commercial paper in January-June, up 19% from the same period last year, according to a statement from the Financial Supervisory Service. Short-term bond issuance jumped 90.4% to 990.1 trillion won ($693 billion).
Korean (ORG) South Korean (ORG) the Financial Supervisory Service (ORG)
Originally published by Bloomberg Markets Read original →