SEJONG, South Korea, Feb 23: South Korea will resume the sale of 50-year treasury bonds this year after a cancelled plan late last year and expects to hold an auction next month, a vice finance minister said on Friday.
South Korea launched the country’s longest-maturity treasury bond in 2016 and planned to hold several more auctions last year. But the finance ministry scrapped the plan later in 2017 after an auction in March failed to draw sufficient demand.
“The ministry has decided to issue 50-year treasury bonds this year, given high demand for long-term bonds in the market and the need for the Government to secure a long-term financing tool,” said Second Vice Finance Minister Kim Yong-jin in a written interview.
The ministry expects to hold an auction in the middle of March to sell the bonds, he said. The exact date and amount to be put up for sale would be decided closer to the date and based on a market survey, he added. (AGENCIES)
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