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S. Korea issues 88.4 tln won worth of Treasurys in 2013

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(Globalpost/GlobalPost)

SEJONG, Jan. 6 (Yonhap) -- South Korea sold 88.4 trillion won (US$82.9 billion) worth of Treasurys last year amid strong demand, the finance ministry said Monday.

The amount was up from the previous year's issuance of 79.7 trillion won, the ministry said in a press release. That brought the total outstanding state bonds to 400.6 trillion won at the end of last year.

Three-year bonds accounted for 26.1 percent, with five-year bonds, 10-year bonds and 20-year bonds making up 25.7 percent, 28.1 percent and 9.9 percent, respectively, the ministry said. Bonds that mature in 30 years took a 10.2 percent share.

The average bid rate for Treasurys stood at 412.1 percent last year, highlighting relatively high demand among investors for government debt.

The rate, however, was lower than the 464.9 percent tallied in 2012. The decline was attributable in part to heightened financial market uncertainty over a possible move by the U.S. to taper off its stimulus program, a ministry official said.

The ministry earlier said that it plans to sell 97.5 trillion won worth of Treasurys in 2014.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140106/s-korea-issues-884-tln-won-worth-treasurys-2013