• Compiled From Kyodo, Bloomberg


Lehman Brothers Japan Inc. has defaulted on payment for about ¥120 billion in Japanese government securities it successfully bid for, according to informed sources.

The development Wednesday prevented the Finance Ministry from issuing the securities in question, the sources said. The securities are two-year notes auctioned Aug. 28 and financing bills auctioned Sept. 10. The payment date for both securities was Tuesday.

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