Korea's finance ministry plans four bond auctions for up to 6.773 trillion won in February

By Richard Connell

New York, Jan. 30 - The Ministry of Strategy and Finance of Korea said it plans to issue between 5.89 trillion won and 6.773 trillion won in February.

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 Feb. 3, a 2.54 trillion won add-on of five-year bonds to be auctioned Feb. 10, an 800 billion won add-on of 10-year bonds to be auctioned Feb. 17 and a 300 billion won add-on of 20-year bonds to be auctioned Feb. 24.

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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