S. Korea sells 600 bln won worth of 50-year Treasurys

SEJONG, Dec. 7 (Yonhap) -- South Korea's finance ministry said Friday that it has sold 600 billion won (US$536 million) worth of 50-year Treasurys in the latest move to gain extra leeway to execute financial policies.

The Ministry of Economy and Finance said the state debt was sold at a rate of 1.95 percent, adding that there was strong demand for the longest-dated Treasury bonds.

South Korea sold a combined 1.525 trillion won worth of 50-year state bonds on three separate occasions earlier this year.

In October 2016, the ministry floated its first-ever super long 50-year state bonds. The 50-year debts have the longest maturity of any securities issued by Seoul.

entropy@yna.co.kr
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