Ministry of Finance of Korea plans four bond auctions for up to 3.432 trillion won in December

By Richard Connell

New York, Dec. 1 - The Ministry of Strategy and Finance of Korea announced its bond issuance schedule for December.

The ministry plans to issue between 2.985 trillion won and 3.432 trillion won during the month.

Of the total, 2.985 trillion won will be sold on a competitive basis in four auctions.

Auctions include 1.2 trillion won of 3-year bonds to be auctioned Dec. 1, a 1.4 trillion won add-on of five-year bonds to be auctioned Dec. 8, a 285 billion won add-on of 10-year bonds to be auctioned Dec. 15 and a 100 billion won add-on of 20-year bonds to be auctioned Dec. 22.

Of the 2.958 trillion won to be auctioned on a competitive basis, 597 billion won will be allocated to competitive bidders at the clearing interest rate for each auction.

An additional 447 billion won will be available through non-competitive bidding.

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