In 35th week the Ministry of Finance will redeem two issues of MEKAVM

/IRBIS, Aug.27, 99/ - In thirty fifth week the Ministry of Finance of Kazakhstan will redeem two issues of indexed state securities with 91 days of circulation. The seventh issue of MEKAVM-3 (#7/3V, KZ43L2608990) is redeemed for USD19,979.3 thousand, equivalent of 2,633.3 mln tenge at a redemption exchange rate. At the auction weighted average yield has made 7.41% APR in currency terms. Actual yield in tenge, calculated at real conversion rates, has made 45.64% APR. The eighth issue of MEKAVM-3 (#8/3V, KZ43L3008992) is redeemed for USD16,296.8 thousand, equivalent of 2,147.9 mln tenge at a redemption exchange rate. At the auction weighted average yield has made 7.41% APR in currency terms. Actual yield in tenge, calculated at real conversion rates, has made 20.18% APR. Hard times for the Ministry of Finance of high service costs for MEKAVM of the first issues is coming to an end. Actual yields of the next two issues in tenge will seem to be lower, and beginning from the 11th issue yields may turn negative.