South Korea plans to sell 4 trillion won (US$3.25 billion) worth of Treasury bills next month to finance the government's fiscal spending, the finance ministry said Friday.
The bills, which have a maturity of 63 days, will be sold in four separate auctions in February, according to the Ministry of Economy and Finance.
Treasury bills are usually floated to raise money to cover short-term financial shortfalls and 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