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South Korea to offer 3tn won in fiscal bonds in June

SEOUL : The South Korean government will sell 3 trillion Korean won ($2.8 billion) worth of 28-day fiscal bonds this mon
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By Syed Murtaza Gheblehzadeh
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s.korea-wonSEOUL: The South Korean government will sell 3 trillion Korean won ($2.8 billion) worth of 28-day fiscal bonds this month through auctions to fill temporary shortages in budget spending, the finance ministry said on Friday.

The sale in two batches will take place on June 15 and June 22 for 1.5 trillion won each, it said in a statement.

The amount of net issuance will be 1.3 trillion won with the proceeds from the other 1.7 trillion won set to be used for repayment.

Copyright Reuters, 2011

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