Official Result (MOF)
| Auction Date | 2025-09-17 |
|---|
| Issue Date | 2025-09-18 |
|---|
| Issue | JGB (20-Year) No. 193（reopen） |
|---|
| Coupon (%) | 2.5% |
|---|
| Maturity | 2045-06-20 |
|---|
| Method | price conventional |
|---|
| Offering | ¥800B |
|---|
| Competitive Bids | ¥2.5T |
|---|
| Accepted Amount | ¥614.9B |
|---|
| Lowest Accepted Price | 97.90（2.662%） |
|---|
| Weighted Avg Price | 98.00（2.654%） |
|---|
| Allotment Ratio | — |
|---|
| Non-competitive I | ¥184.6B |
|---|
| Non-competitive II | ¥61B |
|---|
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193回） |
|---|
| Legal basis | 財政法（昭和22年法律第34号）第4条第1項及び特別会計に関する法律（平成19年法律第23号）第46条第1項 |
|---|
| Coupon dates | 毎年6月20日及び12月20日 |
|---|
| Planned amount | ¥800B |
|---|
| Bid deadline | 2025-09-17 11:50 |
|---|
| Payment date | 2025-09-18 |
|---|
| Non-competitive II | held |
|---|
| Price terms | — |
|---|
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
|---|
| Bid/Cover | 4.00 | 3.09 | 3.21 | 2.50 | 3.79 | +2.45 |
| Tail (sen) | 10 | 13 | 29 | 4 | 114 | -0.68 |
| Non-competitive take-up | 28.5% | 24.2% | |
| Grade | A (score +1.56) | (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) | 0.8 | 1.0 |
Same-tenor Auction History