KTB Issuance Plan, August 2024
The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 10,500 billion won in August 2024 through competitive bidding.
Auction Schedule, August 2024
(Unit: KRW billion)
Name
Auction Notice
Auction Date
Settlement Date
Issue Date
Type
Volume
2Y KTB 03250-2603 (24-3)
August 8
August 13
August 14
March 10, 2024
F1
700
2Y KTB 00000-2609 (24-9)
August 8
August 13
August 14
September 10, 2024
P2
400
3Y KTB 03250-2706 (24-4)
August 7
August 12
August 13
June 10, 2024
F
2,000
5Y KTB 03250-2903 (24-1)
August 21
August 26
August 27
March 10, 2024
F
1,000
5Y KTB 03000-2909 (24-7)
August 21
August 26
August 27
September 10, 2024
P
600
10Y KTB 03500-3406 (24-5)
August 13
August 19
August 20
June 10, 2024
F
2,000
KTBi 00750-3406 (24-6)
August 6
August 9
August 12
June 10, 2024
F
100
20Y KTB 03875-4309 (23-9)
August 22
August 27
August 28
September 10, 2023
F
300
20Y KTB 00000-4409 (24-10)
August 22
August 27
August 28
September 10, 2024
P
100
30Y KTB 03250-5403 (24-2)
July 31
August 5
August 6
March 10, 2024
F
1,800
30Y KTB 00000-5409 (24-8)
July 31
August 5
August 6
September 10, 2024
P
1,200
50Y KTB 03500-7209 (22-12)
August 12
August 16
August 19
September 10, 2022
F
300
Conversion
offer
Conventional
August 14
August 20
August 22
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 2,040 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 August 22 with a detailed plan.
4) Buyback
Date
KTBs to be purchased
Amount
August 21
10:40-11:00 am
KTB 03375-2503 (23-3)
KTB 02250-2506 (15-2)
KTB 03125-2506 (22-4)
KTB 01125-2509 (20-6)
KTB 02250-2512 (15-8)
KTB 01250-2603 (21-1)
KTB 01875-2606 (16-3)
KTB 01750-2609 (21-7)
KRW 3,000 billion
* Further details will be provided on August 16 through the BOK website.
5) Conversion offer
Date
KTB to be issued
KTBs to be purchased
Amount
August 20
10:40-11:00 am
30Y KTB 03250-5403
(Maturing on March 10, 2054)
KTB 01375-3006 (20-4)
KTB 02000-3106 (21-5)
KTB 02375-3112 (21-11)
KTB 03750-3312 (13-8)
KTB 02250-3709 (17-5)
KTB 02375-3809 (18-7)
KTB 02000-4603 (16-1)
KRW 500 billion
* Further details will be provided on August 14 through the BOK website.
Please refer to the attached PDF.