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Ministry of Finance of Korea plans four bond auctions for up to 6.733 trillion won in January
By Richard Connell
New York, Jan. 2 - The Ministry of Strategy and Finance of Korea said it plans to issue between 5.89 trillion won and 6.773 trillion won in January.
Of the total, 5.89 trillion won will be sold on a competitive basis in four auctions, according to the newly announced schedule.
Auctions include a 2.25 trillion won add-on of three-year bonds to be auctioned Jan. 6, a 2.54 trillion won add-on of five-year bonds to be auctioned Jan. 13, an 800 billion won add-on of 10-year bonds to be auctioned Jan. 20 and a 300 billion won add-on of 20-year bonds to be auctioned Jan. 29.
Of the 5.89 trillion won to be auctioned on a competitive basis, 1.178 trillion won will be allocated to competitive bidders at the clearing interest rate for each auction.
An additional 883 billion won will be available through non-competitive bidding.
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