S. Korea to sell 7.5 tln won of Treasury bills in Aug.

Treasury bills-August sales

S. Korea to sell 7.5 tln won of Treasury bills in Aug.

SEOUL, July 27 (Yonhap) -- South Korea plans to sell 7.5 trillion won (US$5.89 billion) worth of Treasury bills next month to finance the government's fiscal spending, the financial ministry said Thursday.

The bills, which have a maturity of 63 days, will be sold in five separate auctions next month, according to the Ministry of Economy and Finance.

Treasury bills are usually floated to raise money to cover short-term financial shortfalls and are generally sold with a maturity of less than a year. The debts should be repaid within the year of issuance.

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