S. Korea picks 6 firms to manage dollar bond sale

SEOUL, April 7 (Yonhap) -- South Korea's government said Tuesday that it has chosen six financial agencies to arrange state debt sales aimed at securing liquidity amid toughening credit conditions.

The Ministry of Strategy and Finance said in a statement that Deutsche Bank AG,
Goldman Sachs Group Inc., Merrill Lynch & Co., Samsung Securities, Citigroup Inc.
and Credit Suisse Group AG will spearhead the sale of foreign currency
stabilization bonds.
The exact size and timetable will be announced in the near future, the ministry
added. Local media reports, however, say that around US$2 billion of debt will be
sold within this week.
"Details will be determined depending on market conditions," the ministry said.
The move comes after the government failed to raise $1 billion in overseas
markets in September last year when the global financial market tumbled in the
wake of the collapse of Lehman Brothers in the U.S.