Complete results of placement of notes-07 #335

/IRBIS, Sep.17, 99/ - On September 16 the National Bank of Kazakhstan held 337th auction on placement of notes with par value of 100 tenge. Circulation time - 28 days. Announced volume of 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 placement and data concerning of the previous tranche. Type of the securities Notes-28 Notes-28 NSIN KZ8SK1510996 KZ8SK0110996 KASE trade code NTK337.028 NTK330.028 IRBIS registration number 337/N 331/N Nominal value, tenge 100.00 100.00 Issuance date Sep.16, 99 Sep.02, 99 Circulation start date Sep.17, 99 Sep.03, 99 Maturity date Oct.15, 99 Oct.01, 99 Days in circulation 28 days 28 days Demand, mln tenge 270.2 (- 1,688.6) Weighted average yield on dem., % APR 18.19 (+ 3.60) Planned volume, mln tenge 200.0 ( 0) Actual volume, mln tenge 201.2 (- 1,590.3) Cut-off price, % of nominal 98.84 (- 0.08) Weighted average price, % of nominal 98.84 (- 0.08) Maximum yield, % APR 15.26 (+ 1.06) Weighted average yield, % APR 15.26 (+ 1.06) Effective weighted average yield, % APR 16.38 (+ 1.22) The emitter did not managed to return to the notes their recent popularity. Devaluation rate for the last 28 days is estimated by index 32.1% p.a., for the last week - 22.4%. Therefore, it is not favourable to banks to work with notes. On the other hand, the emitter is extremely interested in attraction of means - at least for its own debt service. Till now only 501.1 million tenges were attracted during this week auctions and sum of redemption is essentially more - 1,346.7 vln tenges (#325/n, KZ95K1709999; #335/n, KZ87K1709996). Today the National Bank makes placement of the indexed notes-14. Rate offered for the additional placement is 7.3 % p.a. in hard currency. It is not excluded, that the banks will be interested in this offer, as the stability in the currency market is improbable now. It is interesting, that today the National Bank offers 6.00% on two-week's deposits, which is less than for notes. Non-indexed tools have reverse relation of rates.