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20-Year Auction Details

KOREA RATES

The South Korean MOF will today sell a total KRW 550bn of 20-Year bonds, consisting of KRW 250bn in pre-issue sale (issue KTB 00000-4109), and KRW 300bn fungible sale (issue KTB 01500-4009), results due after 0330BST/1030HKT.

  • The MOF last sold 20-Year paper on July 21, the sale drew a yield of 1.985% and was covered 3.17x. It was announced last week that South Korea plans to buy a total of KRW 2tn in government bonds between August 25 and 31 August in a bid to pay off part of its national debt. The planned bond buyback will be the largest size among debt repayments carried out with extra budgets. The finance ministry said the purchase will lower the debt/GDP ratio by 1ppt to 47.2%.

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