Complete results of placement of notes-35 #333

/IRBIS, Sep.09, 99/ - On September 09 the National Bank of Kazakhstan held 333th auction on placement of notes with par value of 100 tenge and 35 days of circulation. Announced volume of the issue is determined by the emitter at 200 million tenge. Size of satisfaction of noncompetitive applications is 60%. The auction was held with additional placement carried out during the day. Following is the complete data compared with the previous comparable auction. Type of the securities Notes-35 Notes-35 NSIN KZ95K1410994 KZ95K0810996 KASE trade code NTK333.035 NTK332.035 IRBIS registration number 333/N 332/N Nominal value, tenge 100.00 100.00 Issuance date Sep.08, 99 Sep.03, 99 Circulation start date Sep.09, 99 Sep.03, 99 Maturity date Sep.14, 99 Oct.08, 99 Days in circulation 35 35 Demand, mln tenge 244.7 (-2 153.7) Weighted average yield on demand, % APR 18.20 (-8.90) Planned volume, mln tenge 200.0 (0) Actual volume, mln tenge 108.4 (-1,839.0) Cut-off price, % of nominal 98.58 (0) Weighted average price, % of nominal 98.58 (-0.03) Maximum yield, % APR 14.98 (0) Weighted average yield, % APR 14.98 (+0.32) Effective weighted average yield, % APR 16.03 (+0.37) Events on the currency market immediately affected the sector for notes. Interest in these securities sharply decreased, since current devaluation speed of tenge against dollar is assessed by weekly trend of 133.3% APR and monthly trend of 32.6% APR. Placement was close to cancellation (by the demand parameters). Emitter had to increase the yield of these securities, though volume of received money is incomparable with that of last week. Obviously, the situation on primary market of notes will normalize only after tenge exchange rate stabilizes. Until then, it can be assumed that the National Bank will be forced to increase yield, since its interest in receiving the money based on the cost of servicing its current debt is apparent.