South Korea to sell 9 trillion won in t-bonds in Feb, March

SEOUL: South Korea plans to sell 9 trillion Korean won ($8.42 billion)worth of 63-day treasury bills in February and March via weekly auctions in order to make up for a temporary shortage in budget revenue, the finance ministry said on Sunday.

The ministry said that bond issuance after March will depend on market conditions, though it said it plans to have sales of between 3 trillion won and 5 trillion won per month, ending by the third quarter.

The government plans to pay back all the debt stemming from the short-term bills by the year-end.

The finance ministry raised 22.4 trillion won via treasury bill sales between February and September 2012.