Official Result (MOF)
| Auction Date | 2018-09-20 |
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| Issue Date | 2018-09-21 |
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| Issue | JGB (20-Year) No. 165（reopen） |
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| Coupon (%) | 0.5% |
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| Maturity | 2038-06-20 |
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| Method | price conventional |
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| Offering | ¥1T |
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| Competitive Bids | ¥3.3T |
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| Accepted Amount | ¥828.5B |
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| Lowest Accepted Price | 97.85（0.622%） |
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| Weighted Avg Price | 97.91（0.618%） |
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| Allotment Ratio | — |
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| Non-competitive I | ¥170.5B |
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| Non-competitive II | ¥0M |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Offering Terms (from MOF notice) documents →
| Official name | 利付国庫債券（20年）（第165回） |
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| Legal basis | 特別会計に関する法律（平成19年法律第23号）第47条第1項 |
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| Coupon dates | 毎年6月20日及び12月20日 |
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| Planned amount | ¥1T |
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| Bid deadline | 2018-09-20 11:50 |
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| Payment date | 2018-09-21 |
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| Non-competitive II | held |
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| Price terms | — |
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Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
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| Bid/Cover | 4.03 | 4.66 | 4.27 | 3.69 | 4.66 | -0.90 |
| Tail (sen) | 6 | 5 | 4 | 2 | 10 | +0.71 |
| Non-competitive take-up | 17.1% | 28.1% | |
| Grade | D (score -0.81) | (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) | 0.4 | 0.3 |
Same-tenor Auction History