Complete results of placing of MEKAVM-6 #17/6В
/IRBIS, Oct.12, 99/ - October 12 the Ministry of Finance of Kazakhstan together
with the National Bank has conducted the seventeenth auction on placement of
MEKAVM-6 (182 days). Announced volume of issue is determined by the emitter at
$3 million. Satisfaction size of the incompetitive applications - 50% from
The complete data and comparison with the previous comparable transh are given
Type of securities MEKAVM-6 MEKAVM-6
NSIN KZ46L1304A05 KZ46L0604A04
Trade code at KASE МВМ006.017 МВМ006.016
IRBIS' registration number 17/6B 16/6B
Nominal value, USD 100.00 100.00
Date of issue Oct.12.99 Oct.05.99
Beginning of the circulation Oct.14.99 Oct.07.99
Date of redemption Apr.13.00 Apr.06.00
Term of the circulation 182 days 182 days
Number of the Primary dealers 11 (+ 4)
Demand, million USD 5.5 (+ 0.7)
Yield on demand weighted average, % p.a. 10.06 (+ 0.02)
Scheduled volume, million USD 3.0 ( 0)
Actual volume, million USD 5.0 (+ 1.1)
The cutting off price, USD 95.67 ( 0)
The weighted average price, USD 95.67 ( 0)
Maximum yield, % p.a. 9.05 ( 0)
Weighted average yield., % p.a. 9.05 ( 0)
Weighted average yield., effective % p.a. 9.36 ( 0)
The yield is expressed in a currency form.
According to the information of The Ministry of Finance, no applications were
received from non-residents for the auction.
Most typical feature of the last placements of the "currency six" - work of the
emitter under a principle "what will be given". The cutting off price is well
predicated parameter still constant for three last weeks. All attempts of the
investors to affect the emitter were unsuccessful.
At the same time, demand grows and becomes softer. Probably, the pension funds
simply have no place to put the means. The active participation of the own
banks' assets (except the Halyk Bank) is problematic, by the IRBIS analysts
The degree of the repayment monopolization of the previous MEKAVM-6 issue, by
the transactions of the Central depositary was rather low.
In opinion of the IRBIS analysts, behavior of the Ministry of Finance at
placement of the next MEKAVM-6 issue will hardly be changed.