Joint Local Government Bond characteristics
- Joint Local Government Bonds are offered each month by 33 Local Governments that issue national publicly-offered Local Government Bonds (as of FY2009).in accordawce with Article 5-7 of the Local Finance Act. These issuers bear joint responsibility for the total issuance amount each month.
- Joint Local Government Bonds are very secure bonds.
※Article 5-7 of the Local Finance Act.When local bonds are issuers, two or more local public bodies, on approval of their respetire asseurbies, way issuebonds jointly. Such local public bodies small be collectively respensibletor the redeunption of the local bonds and the interest payunents.
Issuing governments (as of FY2009)
|Total planned issue amount for FY09:||1,390 billion yen (approximately 120 billion yen/month)|
|Maturity, Redemption:||10 year, no early redemption|
|Minimum face vale:||100,000 yen|
|Issue date:||25th in every month|
|Coupon:||Fixed rated coupon(coupon rate changes by month)|
|Coupon payment:||25th in February and August|
|Pricing date:||Business day following 10yr JGB auction|