TOTAL funds raised in the ringgit bond market were significantly higher in 2003, Bank Negara said. The low interest rate environment and ample liquidity were the main factors influencing the growth of the private debt securities (PDS) market, it said.
Gross issuance increased 75% due to higher issuance by the public and private sectors. Excluding redemptions made during the year, total net funds raised in the bond market amounted to RM42.5bil (RM10.6bil in 2002). As a result, outstanding ringgit bonds rose 16.7% to RM319.4bil, which is equivalent to 81.5% of GDP.
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