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S. Korea to sell 2 tln won of Treasurys this month

All Headlines 14:44 September 08, 2016

SEJONG, Sept. 8 (Yonhap) -- South Korea on Thursday said it will issue 2 trillion won (US$1.8 billion) worth of Treasury bills this month to help operate state funds with stability.

The Finance Ministry announced that it will auction off one trillion won worth of bills with a maturity of 63 days on Sept. 21, followed by the sale of the rest a week later.

The government has regularly issued Treasury bills for short-term borrowing to facilitate budget spending and cover temporary financial shortfalls.

The planned sale is expected to push up the outstanding amount of Treasury bills to 3 trillion won as of end-September, according to the ministry.
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