Treasury bills-March sales

S. Korea to sell 5 tln won worth of Treasury bills in March

SEOUL, Feb. 23 (Yonhap) -- South Korea plans to sell 5 trillion won (US$3.85 billion) worth of Treasury bills next month to support the government's fiscal spending, the finance ministry said Thursday.

The bills, which have a maturity of 63 days, will be sold in five separate auctions in March, 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.

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