Japan Marks Lowest-Ever Coupon on Corporate Bond in Toyota Sale
- Toyota Finance sells 20 billion yen of notes at 0.001%
- Average Japanese corporate bond yields drop to 0.17%: BOA
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A Toyota Motor Corp. unit sold yen bonds Tuesday with the lowest coupon ever for a Japanese company, reflecting the plunge in borrowing costs as the central bank pushes ahead with unprecedented monetary stimulus.
Toyota Finance Corp. issued 20 billion yen ($186 million) of notes at a yield of 0.001 percent, according to a filing with the nation’s Finance Ministry. That’s the lowest coupon ever for a regular bond by a domestic company that isn’t backed by the government, according to data compiled by Bloomberg.