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S. Korea to sell 5 tln won in Treasury bills in July

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(Globalpost/GlobalPost)

SEJONG, July 4 (Yonhap) -- South Korea plans to sell 5 trillion won (US$4.95 billion) worth of Treasury bills in July, the finance ministry said Friday.

Treasury bills raise money for the government to deal with short-term financial shortfalls. They are generally sold with a maturity of less than one year.

The government will sell Treasury bills with a maturity of 63 days in four auctions this month, the ministry said. It also plans to pay back 7 trillion won worth of Treasury bills.

The outstanding amount of Treasury bills will stand at 10 trillion won at the end of July, down 2 trillion won from the previous month, according to the ministry.

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http://www.globalpost.com/dispatch/news/yonhap-news-agency/140704/s-korea-sell-5-tln-won-treasury-bills-july