September 30, 2016 / 5:16 AM / a year ago

S.Korea sets premium for first 50-yr bond at 4 bps over 10-yr bonds

SEOUL, Sept 30 (Reuters) - South Korea's finance ministry said the premium for holding the nation's first 50-year treasury bonds will be 4 basis points over its benchmark 10-year notes.

The ministry plans to issue bonds worth 1.1 trillion won ($1.00 billion) on Oct. 11, at the nation's longest-ever maturity of 50 years, it said in an emailed statement on Friday.

The final yield for the issuance will be the spread plus the average yield for the benchmark 10-year notes for the preceding three business days.

The nation's 10-year bonds currently yield 1.46 percent.

$1 = 1,098.6000 won Reporting by Cynthia Kim; Editing by Amrutha Gayathri

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