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Korea sells $2b foreign exchange stabilization bonds
By Seo Jee-yeonPublished : June 4, 2014 - 20:54
The South Korean government said Wednesday that it has successfully sold $2 billion worth of foreign exchange equalization bonds.
“The government has successfully sold $1 billion worth of dollar-denominated bonds and euro-denominated bonds worth about another $1 billion,” the Ministry of Strategy and Finance said.
The dollar-denominated bonds with a 30-year maturity carry an interest rate of 4.143 percent. It marks the first time the country has issued foreign currency-denominated bonds with a 30-year maturity.
The euro-denominated bonds will mature in 10 years. They carry an interest rate of 2.164 percent, the lowest ever in the country’s history.
The ministry said the move will help lower interest rates on bonds issued by the private sector by setting a benchmark rate for foreign currency-denominated bonds.
The latest bond sale is intended to pay back $2.5 billion worth of bonds that matured at the end of the year. (Yonhap)
“The government has successfully sold $1 billion worth of dollar-denominated bonds and euro-denominated bonds worth about another $1 billion,” the Ministry of Strategy and Finance said.
The dollar-denominated bonds with a 30-year maturity carry an interest rate of 4.143 percent. It marks the first time the country has issued foreign currency-denominated bonds with a 30-year maturity.
The euro-denominated bonds will mature in 10 years. They carry an interest rate of 2.164 percent, the lowest ever in the country’s history.
The ministry said the move will help lower interest rates on bonds issued by the private sector by setting a benchmark rate for foreign currency-denominated bonds.
The latest bond sale is intended to pay back $2.5 billion worth of bonds that matured at the end of the year. (Yonhap)
