S. Korea to sell 6 tln won of Treasury bills in July

▲ This undated photo provided by the Ministry of Economy and Finance shows its main building in the central city of Sejong. (PHOTO NOT FOR SALE) (Yonhap)

Treasury bills-July sales

S. Korea to sell 6 tln won of Treasury bills in July

SEOUL, June 29 (Yonhap) -- South Korea plans to sell 6 trillion won (US$4.56 billion) worth of Treasury bills next month to finance the government's fiscal spending, the financial ministry said Thursday.

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