May 10, 2024
Stocks & Bonds
KDIC to sell W7tr bonds in 2017
[THE INVESTOR] South Korea’s state-run deposit insurer said on Jan. 3 it will issue 7.19 trillion won (US$5.93 billion) in bonds this year.
The Korea Deposit Insurance Corp. plans to float bonds worth 4.69 trillion won for its special fund created in 2011 to help restructure the country’s ailing savings bank industry. The fund is scheduled to run through 2026.
The KDIC will also sell 2.5 trillion won of bonds for redemption funds intended to recover public funds injected for the restructuring of the financial sector after the 1997 Asian financial crisis.
The funds raised by this year’s bond issuance will be used for the redemption of debentures that mature in 2017.
The KDIC plans to reduce the amount of outstanding redemption funds to 10.6 trillion won and that of special funds to 13.7 trillion won by the end of the year.
(theinvestor@heraldcorp.com)
The Korea Deposit Insurance Corp. plans to float bonds worth 4.69 trillion won for its special fund created in 2011 to help restructure the country’s ailing savings bank industry. The fund is scheduled to run through 2026.
The KDIC will also sell 2.5 trillion won of bonds for redemption funds intended to recover public funds injected for the restructuring of the financial sector after the 1997 Asian financial crisis.
The funds raised by this year’s bond issuance will be used for the redemption of debentures that mature in 2017.
The KDIC plans to reduce the amount of outstanding redemption funds to 10.6 trillion won and that of special funds to 13.7 trillion won by the end of the year.
(theinvestor@heraldcorp.com)
