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direct financing-April tally
Corporate direct financing up 6.8 pct in April
SEOUL, May 22 (Yonhap) -- Corporate direct financing in South Korea rose 6.8 percent in April from the previous month, data showed Monday.
Local companies raised a combined 20.23 trillion won (US$15.3 billion) by selling stocks and bonds last month, up 1.29 trillion won from March, according to the data from the Financial Supervisory Service.
Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks and other financial institutions.
Stock sales nosedived 67.1 percent on-month to 82.1 billion won, while bond sales rose 7.8 percent on-month to 20.15 trillion won in April.
As of end-April, the value of outstanding corporate bonds had come to 630.15 trillion won, up 0.2 percent from a month earlier.
The data also showed that local firms issued commercial paper and short-term bonds worth 111.85 trillion won last month, down 5.4 percent from the previous month.
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