Korea's finance ministry sets 5.003 trillion won October bond auctions

By Richard Connell

New York, Oct. 1 - The Ministry of Strategy and Finance of Korea said it plans to issue up to 5.003 trillion won in bonds through auctions in October, down from 8.247 trillion won issued in September.

The bonds will be offered in four auctions, according to the newly announced schedule.

Auctions include a 1.303 trillion won add-on of three-year bonds to be auctioned Oct. 6, a 1.5 trillion won add-on of five-year bonds to be auctioned Oct. 13, a 1.4 trillion won add-on of 10-year bonds to be auctioned Oct. 20 and an 800 billion won add-on of 20-year bonds to be auctioned Oct. 27.

Of the 5.003 trillion won to be auctioned on a competitive basis, 1,000,600,000 won will be allocated to competitive bidders at the clearing interest rate for each auction.

An additional 10% will be available through non-competitive bidding.

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