The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 18,000 billion won in February 2025 through competitive bidding.
Auction Schedule, February 2025
(Unit: KRW billion)
|
Name |
Auction Notice |
Auction Date |
Settlement Date |
Issue Date |
Type |
Volume |
|
|
2Y KTB 02875-2609 (24-9) |
January 23 |
February 3 |
February 4 |
September 10, 2024 |
F1 |
1,000 |
|
|
2Y KTB 00000-2703 (25-1) |
January 23 |
February 3 |
February 4 |
March 10, 2025 |
P2 |
1,000 |
|
|
3Y KTB 02875-2712 (24-12) |
February 5 |
February 10 |
February11 |
December 10, 2024 |
F |
3,000 |
|
|
5Y KTB 03000-2909 (24-7) |
February 19 |
February 24 |
February 25 |
September 10, 2024 |
F |
1,400 |
|
|
5Y KTB 00000-3003 (25-3) |
February 19 |
February 24 |
February 25 |
March 10, 2025 |
P |
1,400 |
|
|
10Y KTB 03000-3412 (24-13) |
February 12 |
February 17 |
February 18 |
December 10, 2024 |
F |
2,900 |
|
|
KTBi 00750-3406 (24-6) |
February 4 |
February 7 |
February 10 |
June 10, 2024 |
F |
100 |
|
|
20Y KTB 02875-4409 (24-10) |
February 20 |
February 25 |
February 26 |
September 10, 2024 |
F |
700 |
|
|
30Y KTB 02750-5409 (24-8) |
January 24 |
February 4 |
February 6 |
September 10, 2024 |
F |
2,900 |
|
|
30Y KTB 00000-5503 (25-2) |
January 24 |
February 4 |
February 6 |
March 10, 2025 |
P |
2,900 |
|
|
50Y KTB 02750-7409 (24-11) |
February 11 |
February 14 |
February 17 |
September 10, 2024 |
F |
700 |
|
|
Conversion offer |
Conventional |
February 13 |
February 18 |
February 20 |
September 10, 2024 |
F |
500 |
1. Fungible issue
2. Pre-issuance
* Under a fungible issue system, new KTBs issued within a specified period (six-month period for 2Y, 3Y, 5Y, 10Y and 30Y KTB, one-year period for 20Y, 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 3,460 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, 234 billion won for 3Y and 5Y KTBs, 284 billion won for 10Y and 30Y KTBs, and 180 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.
* STRIP PDs who exercise their purchase authority in non-competitive option III are required to separate the principal and interest (STRIP) by the month following the month of the allocation date, in accordance with the monthly plan.
＊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 February 20 with a detailed plan.
4) Conversion offer
|
Date |
KTB to be issued |
KTBs to be purchased |
Amount |
|
February 18 10:40-11:00 am |
30Y KTB 02750-5409 (Maturing on September 10, 2054) |
KTB 03375-3206 (22-5) KTB 04250-3212 (22-14) KTB 03250-3306 (23-5) KTB 02625-3509 (15-6) KTB 01500-4009 (20-7) KTB 03250-4209 (22-11) KTB 03000-4212 (12-5)
|
KRW 500 billion |
* Further details will be provided on February 13 through the BOK website.
Please refer to the attached PDF.