Korea buys back KRW 2 trillion of four series of treasury bonds

By Angela McDaniels

Tacoma, Wash., May 25 - The Ministry of Strategy and Finance of Korea bought back KRW 2 trillion of treasury bonds in an auction on Wednesday, according to a government announcement.

Bondholders submitted KRW 3.4 trillion of bonds, resulting in a bid-to-cover ratio of 170.1%.

Holders tendered:

• KRW 1.06 trillion of five-year bonds (0475-1109), of which KRW 835 billion was accepted. The weighted average rate received was 3.19%, and the weighted average accepted rate was 3.20%;

• KRW 650 billion of three-year bonds (0475-1112), of which KRW 492 billion was accepted. The weighted average rate received was 3.22%, and the weighted average accepted rate was 3.23%;

• KRW 473 billion of five-year bonds (0475-1203), of which KRW 211 billion was accepted. The weighted average rate received was 3.28%, and the weighted average accepted rate was 3.30%; and

• KRW 1.22 trillion of three-year bonds (0400-1206), of which KRW 462 billion was accepted. The weighted average rate received was 3.44%, and the weighted average accepted rate was 3.45%.

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