South Korean state bonds (Yonhap)
South Korea plans to sell 13.9 trillion won ($12.4 billion) in state bonds next month, the finance ministry said Thursday.
The ministry will issue 700 billion won in Treasurys with a maturity of two years for the first time in an effort to soothe market uneasiness from its planned massive bond sales, according to the Ministry of Economy and Finance.
It will also float 3 trillion won in three-year government bonds, 2.7 trillion won in five-year government debts and 2.9 trillion won in bonds with a maturity of 10 years, the ministry said.
It will also sell longer-dated bonds, including 750 billion won in 20-year bonds and 3 trillion won in state debts with a maturity of 30 years.
South Korea issued 15.3 trillion won in state bonds in January.
The country plans to sell state bonds totaling 176.4 trillion won this year as it seeks to finance massive fiscal spending to cope with the fallout of the new coronavirus outbreak. (Yonhap)