Over-the-counter bonds spike 17.2 percent in January

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Over-the-counter bonds spike 17.2 percent in January

Korean bonds issued over the counter (OTC) soared 17.2 percent in January from the previous month as firms expanded their debt sales amid low interest rates, a trade association said yesterday.

The amount of OTC bond issuance came to 44.18 trillion won ($40.5 billion) last month, compared to 37.68 trillion won tallied a month earlier, the Korea Financial Investment Association said.

“The rise in debt sales is attributable to the country’s low key interest rate,” an official from the association said. “It also surged as corporate bond issuances usually fall in December, when local firms close their books.”

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