S. Korea to sell 7.5 tln won in Treasury bills in May

Treasury bills-May sales

S. Korea to sell 7.5 tln won in Treasury bills in May

SEOUL, April 27 (Yonhap) -- South Korea plans to sell 7.5 trillion won (US$5.59 billion) worth of Treasury bills next month to fund fiscal spending, the finance ministry said Thursday.

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