S. Korea to sell 2 tln won of Treasury bills in May

SEOUL-- South Korea plans to sell 2 trillion won (US$1.8 billion) worth of Treasury bills this month to repay maturing debt, the finance ministry said Friday.

The bills, which have a maturity of 63 days, will be sold in two separate auctions in May, according to the Ministry of Economy and Finance.

Treasury bills are usually floated to raise money to cover short-term financial shortfalls and thus are generally sold with a maturity of less than a year. The debts should be repaid within the year of issuance.

Source Yonhap News Agency

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