Complete results of placement of NOTE-21 #327

/IRBIS, Aug.19, 99/ - On August 19 the National Bank has conducted the 327-th auction for placement of the notes of nominal price 100 tenge and maturity 21 days. Announced volume of issue is determined by the emitter at KZT200 million. Satisfaction size of the incompetitive applications - 60% from established volume. Auction was hold with additional placement, which was made during the day. The complete data in comparison with the previous placement are given below. Type of securities Note-21 Note-21 NSIN KZ8LK1009994 KZ8LK0309999 Trade code at KASE НОТЫ 327 НОТЫ 326 IRBIS' registration number 327/N 326/N Nominal value, KZT 100.00 100.00 Date of issue Aug.19, 99 Aug.13, 99 Beginning of the circulation Aug.20, 99 Aug.13, 99 Date of redemption Sep.10, 99 Sep. 03, 99 Maturity 21 days 21 days Demand, million KZT 728.0 (-1,182.9) Yield on demand weighted av., % p.a. 15.57 (+1.24) Planed volume, million KZT 200.0 ( 0) Actual volume, million KZT 419.7 (-856.1) The cutting off price, KZT 99.20 ( 0) The weighted average price, KZT 99.20 ( 0) Maximum yield, % p.a. 13.98 ( 0) Weighted average yield, % p.a. 13.98 ( 0) Weighted average yield, eff. % p.a. 14.94 ( 0) The influence of the exchange market tendencies on the investors' behavior in this sector is obvious. The rate of tenge devaluation has exceeded in the current week the notes yield offered by the National BANK, that at once was reflected by the demand parameters. The volume of demand decreased by 2.6 times, and the prices, stated by the participants were essentially less than at the last trade. However, the demand still essentially exceeds the supply, and emitter was able to place twice more than was scheduled without the yield increase. By opinion of the IRBIS' analysts, decrease of the demand is indicative for the valuation of the banks mood. It is possible to make a conclusion, that past today's trade for dollar on KASE somewhat cooled eagerness of the participants, but it is impossible to speak about complete redistribution of limits to the notes. On Friday the situation will more clear. On Friday the National Bank will place note-35. Money received by the investors today (redemption of the before issued state securities) can be reinvest in this tool. But the term of circulation is great. Most likely, the demand parameters will be the same, and emitter will able to keep yield at the present level receiving at the end of week a positive net-drawing balance.