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S. Korea to sell W4 tln in Treasury bills in April

All Headlines 13:59 April 07, 2016

SEOUL, April 7 (Yonhap) -- South Korea plans to sell 4 trillion won (US$3.46 billion) worth of Treasury bills this month to help stabilize the money market and cover government expenses, the finance ministry said Thursday.

The bills will have a maturity of 63 days and will be sold in four separate auctions throughout the month, it added.

Treasury bills are designed to raise money to cover short-term financial shortfalls, and thus are generally sold with a maturity of less than a year.

Following the planned sales of additional Treasury bills, the outstanding amount of Treasury bills is expected to reach 8 trillion won at the end of April, the Ministry of Strategy and Finance said in a press release.

bdk@yna.co.kr
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