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No respite for South Korea's corporate bond issuers

Published Wed, Nov 25, 2015 · 09:50 PM

Seoul

SOARING bond yields in defiance of two Bank of Korea interest rate cuts earlier this year have dashed any hope of the country's corporate bond market being a source of cheaper financing, just as companies are in desperate need of funds.

Investors are demanding higher premiums as South Korea's industrial sector plumbs new lows. Three shipbuilders - the world's largest - posted a combined loss of 4.75 trillion won (S$5.8 billion) in the quarter ended September, hit by an extended slump in the global economy.

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