Kyodo News InternationalNovember 6, 2013 01:52
The Finance Ministry said Wednesday it lowered the coupon rate for new 10-year Japanese government bonds to 0.6 percent, reflecting the recent downward trend of long-term interest rates in the country.
In an auction, the No. 331 issue of benchmark long-term bonds drew 8,037.2 billion yen in bids, of which the ministry accepted 2,176.9 billion yen. The debt will be issued Friday and will mature on Sept. 20, 2023.
The coupon rate is the interest rate stated on bonds at their issuance. Interest rates move inversely to bond prices.