REVIEW: Government Securities market on KASE in June 2010

/IRBIS, June 15, 2010/ - In June 2010, on the Kazakhstan Stock Exchange (KASE) in the sector of sale of GS, including location, recorded 188 transactions totaling KZT74,276.9 million (equivalent to USD505.0 million), accounting for 3.5 % of total trading volume on KASE (in May 2010 - 6.3%). With regard to May 2010 trading volume in the sector fell by 43.4%, relative to June 2009 rose by 36.4%. Ministry of Finance of Kazakhstan in June 2010 held 5th auction at KASE on placement of bonds: June 3, 2010 the auction on placement of government treasury bonds the Ministry of Finance MEUKAM-1984 eighth issue (KZKDKY070081, MUM084_0008; KZT1,000, 03/06/1910 - 03/06/1917, 30/360). The subject of bargaining acted coupon. It was originally planned to place the bonds at KZT12,000.0 million. In the auction was attended by 17 primary dealers, who submitted 37 active applications. Total volume of active bids (volume of demand) was KZT39,410.0 million (328.4% of the proposed bond volume). Coupon submitted by active bids ranged from 4.00% to 9.00% per annum, making in average terms, 7.0898% per annum. As a result of trade, issuing fixed rate at 6.00% per annum, thereby satisfying the request for KZT 12,000.0 million (100.0% of the proposed amount of bonds). June 10, 2010 an auction was held on placement of government medium-term Treasury obligations Treasury MEOKAM-36 Release 80 (KZK2KY030809, MOM036_0080; KZT1000, 06.10.1910 - 10.06.1913, 30/360). The subject of bargaining acted coupon. It was originally planned to place the bonds in the amount of KZT10,000.0 million. In the auction was attended by 14 primary dealers, filed 41 active application. Total volume of active bids (volume of demand) was KZT66,453.0 million (474.7% of the proposed bond volume). Coupon submitted by active bids ranged from 3.50% to 10.00% per annum, making in average terms, 4.9101% per annum. As a result of trade, issuing fixed rate at 3.60% per annum, thereby satisfying the request for KZT6,666.7 million (47.6% of the proposed amount of bonds). June 16, 2010 an auction was held on placement of government treasury bills of the Ministry of Finance MEKKAM-12 issue 108 (KZK1KY011081, MKM012_0108; KZT100, 16.06.10 - 16.06.11, actual/actual). The subject of bargaining advocated bond price. It was originally planned to place the bonds at KZT13.000.0 million. At the auction attended eight of primary dealers, received 17 active applications. Total volume of bids (the amount of demand) was KZT50,992.0 million (403.2% of the proposed bond volume). Price of bonds of an application was 98.0392% per annum. As a result of bargaining issuer granted an application for the purchase of 73.3 million bonds for KZT7,189.5 million (56.4% of the proposed amount of bonds). June 29, 2010 held an auction on placement of government treasury bonds, Ministry of Finance MEUZHKAM-228 third edition (KZKAKY190031, MUJ228_0003; KZT1,000, 06.29.1910 - 06.29.1929, 30/360). The subject of bargaining played a fixed coupon. It was originally planned to place the bonds at KZT13,000.0 million. In the auction was attended by 10 primary dealers were 19 active applications. Total volume of active bids (volume of demand) was KZT60,330.0 million to the nominal value of bonds (464.1% of the proposed amount of bonds). As a result of trade, the issuer has established fixed coupon rate at 0.01% per annum, thereby satisfying the request for KZT.13,000.0 million (100.0% of the proposed amount of bonds). Statistical indicators of the secondary market in GS in June 2010 are given in the table (in brackets - comparable figures for previous months). ------------------------------------------------------------------------------ Yield to maturity for the buyer, %APR Term -------------------------------------- Volume, m. KZT Number till maturity min max last WA at market price of deals -------------- -------- ------- ------- ------------- --------------- -------- Discounted GS (KZT): MEKKAM, National Bank's notes - 13.8% (12.0%) of the market ------------------------------------------------------------------------------ Less 8 0.20 0.20 0.20 0.20 (0.20) 685.0 1 8 - 14 0.75 0.75 0.75 0.75 (0.78) 922.3 3 92 - 181 1.34 1.70 1.34 1.53 (1.71) 165.9 2 182 - 364 0.50 2.08 2.08 1.51 (1.74) 3,112.9 11 -------------- -------- ------- ------- ------------- --------------- -------- Total 4,886.2 17 (7,221.5) (17) -------------- -------- ------- ------- ------------- --------------- -------- Coupon GS (KZT): MAOKAM MEOKAM. MEUKAM MEUJKAM - 86.2% (88.0%) of the market ------------------------------------------------------------------------------ Less 730 1.55 3.30 3.30 2.59 (2.63) 3,721.8 17 731 - 1095 1.55 7.29 7.29 3.96 (5.74) 10,335.0 33 1096 - 1460 3.70 4.70 3.70 4.62 (4.73) 632.9 2 1461 - 1825 6.14 7.16 6.14 6.51 (5.28) 419.0 3 More 2191 4.95 7.30 7.29 6.03 (5.50) 15,425.8 56 -------------- -------- ------- ------- ------------- --------------- -------- Total 30,534.6 111 (53,150.8) (158) -------------- -------- ------- ------- ------------- --------------- -------- GRANDTOTAL 35,420.7 128 (60,372.3) (175) ------------------------------------------------------------------------------ The share of exchange trading volume of total transactions in the Kazakhstan's secondary market in June 2010 amounted to 94.6% (in May 2010 - 59.0%). [2010-07-15]