South Korea plans to sell 99.6 trillion won ($88.53 billion) worth of Treasurys in 2019, down 6.8 trillion won from this year’s estimated amount, the finance ministry said Thursday.
The government plans to refinance 57.1 trillion won worth of state bonds due next year, up 12.6 trillion won from 2018, the ministry said, adding that a net 42.5 trillion won worth of state bonds will be sold next year, up 5.8 trillion won on-year.
So far this year, the government has sold a total of 97.4 trillion won worth of state bonds, according to the ministry.
Factoring in strong demand for the longest dated state bonds, the ministry plans to sell 50-year Treasurys at least six times next year, while making 20-year and longer dated state bonds account for up to 40 percent of the total offering in 2019.
In 2016, the government floated its first-ever 50-year state bonds to gain extra leeway to execute financial policies and has since sold them several times on an irregular basis, with the latest one last week worth 600 billion won. (Yonhap)