Official Result (MOF)
| Auction Date | 1993-12-21 |
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| Issue Date | 1994-01-20 |
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| Issue | JGB (20-Year) No. 25（new） |
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| Coupon (%) | 4.1% |
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| Maturity | 2014-03-20 |
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| Method | price conventional |
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| Offering | ¥300B |
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| Competitive Bids | ¥904.4B |
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| Accepted Amount | ¥299.7B |
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| Lowest Accepted Price | 101.80（3.939%） |
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| Weighted Avg Price | 102.03（3.919%） |
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| Allotment Ratio | — |
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| Non-competitive I | — |
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| Non-competitive II | — |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
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| Bid/Cover | 3.02 | 3.63 | 2.60 | 1.62 | 3.63 | +0.65 |
| Tail (sen) | 23 | 5 | 15 | 4 | 34 | +0.94 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | C (score -0.15) | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 2.0 | 0.5 |
Same-tenor Auction History