Czechs up bond issuance, to launch new 30-yr bond

PRAGUE, Nov 2 (Reuters) - The Czech Finance Ministry has raised its target for local currency state bond issuance for the rest of the year by 15 billion crowns to cover unplanned payments, the ministry said on Thursday.

It said it would offer a total of 43 billion crowns worth of medium- and long-dated bonds through auctions scheduled for the rest of November and December.

The new issuance plan includes a seven billion crown tranche re-opening the 15-year state bond, and an eight billion crown tranche of a new 30-year bond, the longest paper the country has ever issued.

The ministry had previously scheduled four auctions offering 28 billion crowns' worth of bonds, aiming to place 15 billion crowns in new 3-year benchmark debt, 6 billion in 4-year paper <CZ4YT=RR> and 7 billion in 15-year note <CZ15YT=RR>.

The ministry has earlier projected an 18.8 billion crown hike in its funding requirements before the year-end and had been expected to add one or two medium- or long-dated bond auctions to the calendar if it boosted local currency borrowing. ((Reporting by Alan Crosby; prague.newsroom@reuters.com; Reuters Messaging: alan.crosby.reuters.com@reuters.net; +420 224 190 477))

Keywords: MARKETS CZECH BONDS