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Treasury Bond Issuance Plan, February 2023
The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately13,000 billion won in February 2023 through competitive bidding.
Auction Schedule, February 2023
(Unit: KRW billion)
|
Name |
Auction Notice |
Auction Date |
Settlement Date |
Issue Date |
Type |
Volume |
|
|
2Y KTB 04250-2412 (22-15) |
February 9 |
February 14 |
February 15 |
December 10, 2022 |
F¹ |
1,000 |
|
|
2Y KTB 00000-2503 (23-3) |
February 9 |
February 14 |
February 15 |
March 10, 2023 |
p₂ |
600 |
|
|
3Y KTB 04250-2512 (22-13) |
February 8 |
February 13 |
February 14 |
December 10, 2022 |
F |
2,400 |
|
|
5Y KTB 03125-2709 (22-8) |
February 22 |
February 27 |
February 28 |
September 10, 2022 |
F |
1,300 |
|
|
5Y KTB 03250-2803 (23-1) |
February 22 |
February 27 |
February 28 |
March 10, 2023 |
P |
800 |
|
|
10Y KTB 04250-3212 (22-14) |
February 15 |
February 20 |
February 21 |
December 10, 2022 |
F |
2,300 |
|
|
KTBi 01625-3206 (22-6) |
February 7 |
February 10 |
February 13 |
June 10, 2022 |
F |
100 |
|
|
20Y KTB 03250-4209 (22-11) |
February 23 |
February 28 |
March 2 |
September 10, 2022 |
F |
1,000 |
|
|
30Y KTB 03125-5209 (22-9) |
February 2 |
February 6 |
February 7 |
September 10, 2022 |
F |
1,900 |
|
|
30Y KTB 00000-5303 (23-2) |
February 2 |
February 6 |
February 7 |
March 10, 2023 |
P |
1,200 |
|
|
50Y KTB 03500-7209 (22-12) |
February 14 |
February 17 |
February 20 |
September 10, 2022 |
F |
400 |
|
|
Conversion offer |
Conventional |
February 16 |
February 21 |
February 23 |
September 10, 2022 |
F |
300 |
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 2,520 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 10~35%* of the accepted bid amount within three business days after the auction.
* Up to 25% of the option is granted to the top-performing PDs, 20% to the 2nd best-performing PDs, 15% to the 3rd best-performing PDs, and 10% 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 announce it on February 16 with a detailed plan.
4) Conversion offer
|
Date |
KTB to be issued |
KTBs to be purchased |
Amount |
|
February 21 10:40-11:00 am |
KTB 03125-5209 (Maturing on September 10, 2052) |
KTB 01375-3006 (20-4) KTB 01500-3012 (20-9) KTB 02000-3106 (21-5) KTB 04000-3112 (11-7)) KTB 03750-3312 (13-8) KTB 02625-3509 (15-6) KTB 03000-4212 (12-5) |
KRW 300 billion |
* Further details will be provided on February 16 on the BOK website.
** MOEF Press Release_Treasury Bond Issuance Plan_February 2023_1.pdf
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