Korea's finance ministry plans four bond auctions for up to 7.05 trillion won in April

By Richard Connell

New York, March 26 - The Ministry of Strategy and Finance of Korea said it plans to issue up to 7.05 trillion won in bond auctions in April, up from 6.042 trillion won issued in March.

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

Auctions include a 2.72 trillion won add-on of three-year bonds to be auctioned April 7, a 2.83 trillion won add-on of five-year bonds to be auctioned April 14, a 1 trillion won add-on of 10-year bonds to be auctioned April 21 and a 500 billion won add-on of 20-year bonds to be auctioned April 28.

Of the 7.05 trillion won to be auctioned on a competitive basis, 1.41 trillion 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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