New Delhi, March 13 -- Corporate bond markets are navigating an unusual March this year, as borrowing plans stall in a month that typically sees a rash of bond sales. The surge in bond yields triggered by rising crude oil prices has prompted several borrowers to either defer plans to the next year or borrow selectively, five debt merchant bankers said.

Frequent issuers such as National Bank for Agriculture and Rural Development (Nabard) and REC Ltd withdrew planned bond issuances on Thursday after receiving bids at higher-than-expected rates. Corporate bond yields have climbed alongside government bond yields, after the war in West Asia sent energy shocks worldwide.

After rising 10 basis points to 6.78% on Monday, the yield on the 10-ye...