SEOUL, June 12 (Xinhua) -- South Korea planned to sell the U.S. dollar-denominated sovereign bonds with maturities of five and 10 years, the ministry of economy and finance said Wednesday.
The ministry will issue the five-year Green and Sustainability bond and the 10-year conventional foreign exchange stabilization bond, both of which are denominated in the dollar.
The Green and Sustainability bond issuance was aimed to raise funds necessary for environmental and sustainable development projects.
The foreign exchange stabilization bond is issued to secure reserves against volatility in the foreign exchange market.
The size of issuance and the coupon rates would be determined later according to market conditions.
Four joint underwriters were appointed, including JP Morgan, HSBC, Citigroup and Credit Agricole CIB.
Global credit rating company Standard & Poor's assigned its "AA" long-term foreign currency rating to the sovereign bonds to be issued by the South Korean government.