TOKYO (Thomson Financial) - Japan's Ministry of Finance said it has set a coupon of 1.7 percent on 1.9 trillion yen worth of 10-year government bonds it will auction Tuesday, lower than the 1.8 percent coupon given at the previous auction of 10-year debt last month.
Designated as No 288 issue, the bonds will be issued on Sept 20 and will mature on Sept 20,
2017, the ministry said.
At the previous 10-year debt auction on Aug 2, the lowest accepted price was 99.87 yen, giving a yield of 1.815 percent, with a bid-to-cover ratio of 2.65 to one.
The results of the auction will be announced at 12.45 pm (0345 GMT).
(1 US dollar = 115.90 yen)
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