Treasury Bond Issuance Plan, March 2021
The Ministry of Economy and Finance plans to issue Korea Treasury Bonds worth approximately 14,000 billion won in March 2021 through competitive bidding.
March 2021 Auction Schedule
(Unit: KRW billion)
|
Name
|
Auction Notice
|
Auction Date
|
Settlement Date
|
Issue Date
|
Type
|
Volume
|
|
2Y KTB 00750-2303
|
March 4
|
March 9
|
March 11
|
March 10, 2021
|
1F
|
1,100
|
|
3Y KTB 00875-2312
|
March 3
|
March 8
|
March 9
|
December 10, 2020
|
F
|
3,100
|
|
5Y KTB 01250-2603
|
March 17
|
March 22
|
March 23
|
March 10, 2021
|
F
|
2,700
|
|
10Y KTB 01500-3012
|
March 10
|
March 15
|
March 16
|
December 10, 2020
|
F
|
2,900
|
|
20Y KTB 01500-4009
|
March 18
|
March 23
|
March 24
|
September 10, 2020
|
F
|
900
|
|
30Y KTB 01875-5103
|
February 25
|
March 2
|
March 3
|
March 10, 2021
|
F
|
3,300
|
1F = fungible issue
1) Non-competitive bids option I
For retail investors, KTBs worth 2,800 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% of the option is granted to the top-performing PDs, 15% to the 2nd best-performing PDs, 10% to the 3rd best-performing PDs, and 5% 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, 208 billion won for 3Y and 5Y KTBs, 258 billion won for 10Y and 30Y KTBs, and 160 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.
* The option is granted according to the outcomes of monthly evaluation conducted in the previous month, and the PDs have to meet their obligations of separating interest and principal for their purchases over the next month.
4) Conversion offer
|
Date
|
KTB to be issued
|
KTBs to be purchased
|
Amount
|
|
March 12
10:40~11:00 am
|
30Y KTB 01875-5103
(Maturing on March 10, 2051)
|
KTB 02375-2812
KTB 01375-2912
KTB 04750-3012
KTB 03750-3312
KTB 02625-3509
KTB 03000-4212
|
KRW 300 billion
|
|
March 19
10:40~11:00 am
|
KTBi 01125-3006
(Maturing on June 10, 2030)
|
KTBi 01000-2606
KTBi 01750-2806
|
KRW 100 billion
|
* Further details will be provided on March 9 and 16 on the BOK website.
＊Non-competitive option Ⅵ is granted to primary dealers whereby PDs can make purchases at a relatively lower yield, which will be announced on the auction day (March 26, Friday). KTBs to be issued and the amount will be announced at 5:00 pm on March 19, Friday.
Please refer to the attached PDF
