The Bank of Japan rejected requests to consider buying bonds of Acom Co., Softbank Corp. and Elpida Memory Inc. at an auction of corporate debt tomorrow, according to three people with direct knowledge of the matter.
Banks and brokers planning to participate in the bidding submitted details of bonds they’d like to sell to the BOJ, said the people, who asked not to be identified because the talks are private. The central bank replied with its list of excluded securities today, they said.
The BOJ said on Oct. 28 that it will purchase as much as 500 billion yen ($5.9 billion) of corporate bonds rated BBB or higher as part of a plan to increase liquidity and so stimulate the economy. It will buy as much as 100 billion yen of notes from 38 banks and brokerages including Bank of Tokyo-Mitsubishi UFJ Ltd. and Goldman Sachs Securities at the first auction tomorrow, according to its website.
An official who answered the phone at the BOJ’s media department, and who declined to give her name, said no one was immediately available for comment.
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