South Korea Issues Record 1.7 Billion Euro Foreign Exchange Stabilization Bond
Deep News
Jul 09
South Korea has issued foreign exchange stabilization bonds worth 1.7 billion euros, equivalent to approximately $1.94 billion, according to a statement from its finance ministry on Thursday. This issuance marks the largest euro-denominated bond sale conducted by the country to date.
The bond offering consisted of two tranches: a three-year bond valued at 700 million euros and a seven-year bond valued at 1 billion euros. The yields for these bonds were set at 2.981% and 3.285%, respectively. These yields represent spreads of 10 basis points and 28 basis points over the mid-swap rate, with both spreads reaching historically low levels for the nation.
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