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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: SKorea says US$3bln bond issue a success AFP - Thursday, April 9 SEOUL (AFP) - - South Korea said Thursday its first dollar-denominated state bond sale since 2006 was a success, with the issue increased to three billion dollars from two billion because of strong demand. ADVERTISEMENT The Ministry of Strategy and Finance said it issued 1.5 billion dollars of five-year bonds and another 1.5 billion dollars of 10-year bonds in a global offering. "The issuance of foreign currency stabilisation bonds paved the way for proving the soundness of the South Korean economy and removing uncertainty at home and abroad," it said in a statement, adding that demand totalled eight billion dollars. It said proceeds would be used to support the won, which has fallen 28 percent against the dollar in the past year. The ministry said the successful bond issue puts an end to "groundless negative views" about South Korea, Asia's fourth largest economy. The successful sale will help the government expand its foreign currency reserves, which stood at 206 billion dollars at the end of March. South Korea has been seeking to persuade investors it will have little difficulty rolling over foreign debt obligations due this year and estimated by analysts to total 194 billion dollars. The government says this estimate includes debt for foreign currency hedging by shipbuilders, which is set to decrease as orders fall. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Tsang says Hong Kong ready to use yuan for tradeAP - 2 hours 11 minutes ago Australian jobless rate at five-year highAFP - 2 hours 12 minutes ago Japan set for 150 bln dlr stimulus spendingAFP - 2 hours 36 minutes ago Asian markets rally on Japan stimulus, better dataAP - 2 hours 46 minutes ago Related Articles: Business Nintendo says Wii losing lustre but no price cutAFP - 1 hour 22 minutes ago TOPWRAP 2-Japan details record stimulus plan, banks struggleReuters - 1 hour 34 minutes ago Nintendo to launch new Wii Sports in JuneReuters - 1 hour 34 minutes ago S.Korea holds rates again, easing cycle seen endingReuters - 1 hour 34 minutes ago PREVIEW-India midcap IT firms' Jan-March profit seen lowerReuters - 1 hour 37 minutes ago Enlarge Photo SKorea says US$3bln bond issue a success Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Harry Potter actor arrested over cannabis find Israeli Jews hold rare prayer to bless the sun Journalists get shock with 'sexy' White House call German, Japanese data jolts investors UN sounds warning after Antarctica ice shelf rips View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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