Korea Securities Depository (KSD) said on the 14th that corporations raised a total of 383.2 trillion won through short-term bonds (STB) in the first quarter of this year. That was up 50% from the previous year (255.4 trillion won) and 9.5% from the previous quarter (349.9 trillion won).
Short-term bonds are bonds that corporations issue by meeting certain requirements, such as maturities of one year or less and issuance amounts of 100 million won or more. Issuance, trading, and the exercise of rights are handled electronically through an electronic registration agency.
Specifically, general short-term bonds issued by financial institutions and general companies totaled 297.2 trillion won, up 62.8% from last year. Asset-backed short-term bonds issued by special purpose companies (SPC) were issued in the amount of 86 trillion won, up 18% over the same period.
By credit rating, A1 issues (363.3 trillion won) accounted for most of the total, at 94.8%. A2 (17.8 trillion won, 4.6%) and A3 (2 trillion won, 0.5%) followed.
By maturity, issues of three months (92 days) or less totaled 382 trillion won, accounting for 99.7% of the total, while issues of 93 to 365 days came to 1.2 trillion won (0.3%).
By industry, securities companies (207.8 trillion won), asset-backed companies (86.1 trillion won), other financial businesses such as card and capital companies (50.4 trillion won), and general and public corporations (38.9 trillion won) issued the most.