KTB Issuance Plan, May 2024
The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 15,000 billion won in May 2024 through competitive bidding.
Auction Schedule, May 2024
(Unit: KRW billion)
Name
Auction Notice
Auction Date
Settlement Date
Issue Date
Type
Volume
2Y KTB 03250-2603 (24-3)
May 2
May 8
May 9
March 10, 2024
F1
1,900
3Y KTB 03875-2612 (23-10)
April 30
May 7
May 9
December 10, 2023
F
1,700
3Y KTB 03250-2706 (24-4)
April 30
May 7
May 9
June 10, 2024
P2
1,200
5Y KTB 03250-2903 (24-1)
May 14
May 20
May 21
March 10, 2024
F
2,300
10Y KTB 04125-3312 (23-11)
May 8
May 13
May 14
December 10, 2023
F
1,600
10Y KTB 03500-3406 (24-5)
May 8
May 13
May 14
June 10, 2024
P
1,100
KTBi 01625-3206 (22-6)
April 29
May 3
May 7
June 10, 2022
F
50
KTBi 00000-3406 (24-6)
April 29
May 3
May 7
June 10, 2024
P
50
20Y KTB 03875-4309 (23-9)
May 16
May 21
May 22
September 10, 2023
F
700
30Y KTB 03250-5403 (24-2)
April 25
April 29
April 30
March 10, 2024
F
3,900
50Y KTB 03500-7209 (22-12)
May 7
May 10
May 13
September 10, 2022
F
500
Conversion offer
Conventional
May 9
May14
May 17
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 2,900 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 May 16 with a detailed plan.
4) Conversion offer
Date
KTB to be issued
KTBs to be purchased
Amount
May 14
10:40-11:00 am
30Y KTB 03250-5403
(Maturing on March 10, 2054)
KTB 01375-2912 (19-8)
KTB 01500-3012 (20-9)
KTB 04750-3012 (10-7)
KTB 02375-3112 (21-11)
KTB 04000-3112 (11-7)
KTB 03750-3312 (13-8)
KTB 03000-4212 (12-5)
KRW 500 billion
* Further details will be provided on May 9 through the BOK website.
Please refer to the attached files.