The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 10,500 billion won in August 2024 through competitive bidding.
Auction Schedule, August 2024
(Unit: KRW billion)
|
Name |
Auction Notice |
Auction Date |
Settlement Date |
Issue Date |
Type |
Volume |
|
|
2Y KTB 03250-2603 (24-3) |
August 8 |
August 13 |
August 14 |
March 10, 2024 |
F1 |
700 |
|
|
2Y KTB 00000-2609 (24-9) |
August 8 |
August 13 |
August 14 |
September 10, 2024 |
P2 |
400 |
|
|
3Y KTB 03250-2706 (24-4) |
August 7 |
August 12 |
August 13 |
June 10, 2024 |
F |
2,000 |
|
|
5Y KTB 03250-2903 (24-1) |
August 21 |
August 26 |
August 27 |
March 10, 2024 |
F |
1,000 |
|
|
5Y KTB 03000-2909 (24-7) |
August 21 |
August 26 |
August 27 |
September 10, 2024 |
P |
600 |
|
|
10Y KTB 03500-3406 (24-5) |
August 13 |
August 19 |
August 20 |
June 10, 2024 |
F |
2,000 |
|
|
KTBi 00750-3406 (24-6) |
August 6 |
August 9 |
August 12 |
June 10, 2024 |
F |
100 |
|
|
20Y KTB 03875-4309 (23-9) |
August 22 |
August 27 |
August 28 |
September 10, 2023 |
F |
300 |
|
|
20Y KTB 00000-4409 (24-10) |
August 22 |
August 27 |
August 28 |
September 10, 2024 |
P |
100 |
|
|
30Y KTB 03250-5403 (24-2) |
July 31 |
August 5 |
August 6 |
March 10, 2024 |
F |
1,800 |
|
|
30Y KTB 00000-5409 (24-8) |
July 31 |
August 5 |
August 6 |
September 10, 2024 |
P |
1,200 |
|
|
50Y KTB 03500-7209 (22-12) |
August 12 |
August 16 |
August 19 |
September 10, 2022 |
F |
300 |
|
|
Conversion offer |
Conventional |
August 14 |
August 20 |
August 22 |
March 10, 2024 |
F |
500 |
1. Fungible issue
2. Pre-issuance
* Under a fungible issue system, new KTBs issued within a specified period (three-month period for 2Y KTB, six-month period for 3Y, 5Y and 10Y KTB, one-year period for 20Y and 30Y KTB, and two-year period for KTBi and 50Y KTB) are regarded as the same KTB issue.
1) Non-competitive bids option I
For retail investors, KTBs worth 2,040 billion won (no more than 20% of the offered amount in the auction excluding 50Y KTBs) will be allocated first at the highest accepted bid rate.
2) Non-competitive bids option II
A non-competitive purchasing option II is granted to primary dealers (PD) whereby PDs can make additional purchases of 5-30%* of the accepted bid amount within three business days after the auction.
* Up to 20%p of the option is granted to the top-performing PDs, 15%p to the 2nd best-performing PDs, 10%p to the 3rd best-performing PDs, and 5%p to the rest, according to their market-making performances for the last six months. MOEF will grant additional 5-10%p to best performing PDs in the monthly evaluation.
3) Non-competitive bids option III
KTB STRIPS* are supplied on the third business day after the auctions, 221 billion won for 3Y and 5Y KTBs, 271 billion won for 10Y and 30Y KTBs, and 170 billion won for 20Y KTBs. PDs that have obtained the right to purchase these KTB STRIPS can make purchases of up to 20 billion won.
* Purchases are made in a stripped bond type, and the PDs have to meet their obligations of separating interest and principal for their purchases over the next month.
＊Non-competitive option Ⅵ
Details have yet to be decided. If non-competitive option Ⅵ needs to be implemented, the Ministry will make an announcement on August 22 with a detailed plan.
4) Buyback
|
Date |
KTBs to be purchased |
Amount |
|
August 21 10:40-11:00 am |
KTB 03375-2503 (23-3) KTB 02250-2506 (15-2) KTB 03125-2506 (22-4) KTB 01125-2509 (20-6) KTB 02250-2512 (15-8) KTB 01250-2603 (21-1) KTB 01875-2606 (16-3) KTB 01750-2609 (21-7)
|
KRW 3,000 billion |
* Further details will be provided on August 16 through the BOK website.
5) Conversion offer
|
Date |
KTB to be issued |
KTBs to be purchased |
Amount |
|
August 20 10:40-11:00 am |
30Y KTB 03250-5403 (Maturing on March 10, 2054) |
KTB 01375-3006 (20-4) KTB 02000-3106 (21-5) KTB 02375-3112 (21-11) KTB 03750-3312 (13-8) KTB 02250-3709 (17-5) KTB 02375-3809 (18-7) KTB 02000-4603 (16-1)
|
KRW 500 billion |
* Further details will be provided on August 14 through the BOK website.
Please refer to the attached PDF.