Korea buys back KRW 500 billion of four series of treasury bonds

By Angela McDaniels

Tacoma, Wash., Aug. 24 - Korea's Ministry of Strategy and Finance bought back KRW 500 billion of treasury bonds in an auction on Wednesday, according to a government announcement.

Bondholders submitted KRW 1.6 trillion of bonds, resulting in a bid-to-cover ratio of 320%.

Holders tendered:

• KRW 85 billion of five-year bonds (0475-1203), of which KRW 25 billion was accepted. The weighted average rate received was 3.40%, and the weighted average accepted rate was 3.41%;

• KRW 560 billion of three-year bonds (0400-1206), of which KRW 330 billion was accepted. The weighted average rate received was 3.45%, and the weighted average accepted rate was 3.46%;

• KRW 403 billion of five-year bonds (0525-1209), of which KRW 35 billion was accepted. The weighted average rate received was 3.45%, and the weighted average accepted rate was 3.49%; and

• KRW 552 trillion of three-year bonds (0425-1212), of which KRW 110 billion was accepted. The weighted average rate received was 3.47%, and the weighted average accepted rate was 3.49%.

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