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S. Korea raises US$1.5 bln via FX stabilization bond sale

All Headlines 08:35 June 13, 2019

SEJONG, June 13 (Yonhap) -- The South Korean government raised US$1.5 billion by selling foreign exchange stabilization bonds, the finance ministry said Thursday.

The government has sold $500 million worth of dollar-denominated Green and Sustainability bonds and dollar-denominated conventional bonds worth $1 billion, according to the Ministry of Economy and Finance.

The Green and Sustainability bonds with a five-year maturity carry an interest rate of 2.177 percent. It marks the first time South Korea has issued the Green and Sustainability bonds.

The conventional bonds with a maturity of 10 years, carry an interest rate of 2.677 percent.

The FX bonds are sold to secure reserves against volatility in the currency market.

The latest bond sale "reaffirmed foreign investors' solid confidence in the South Korean economy at a time of growing uncertainties at home and abroad over trade friction between the United States and China," the ministry said.

S. Korea raises US$1.5 bln via FX stabilization bond sale - 1

entropy@yna.co.kr
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