Complete results of placement of NOTE-28 #343

/IRBIS, Oct.15, 99/ - On October 15 the National Bank has conducted the 343th auction for placement of the notes with 100 tenge of nominal value and 28 days of circulation period. 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 and comparison with the previous issue are given below. Type of securities NOTE-28 NOTE-28 NSIN KZ8SK1211991 KZ8SK2210992 Trade code at KASE NTK343.028 NTK338.028 IRBIS' registration number 343/N 338/N Nominal value, KZT 100.00 100.00 Date of issue Oct.14, 99 Sep.23, 99 Beginning of the circulation Oct.15, 99 Sep.24, 99 Maturity date Nov.12, 99 Oct.22, 99 Time of circulation 28 days 28 days Demand, million KZT 707.1 (- 868.2) Yield on demand weighted av., % p.a. 16.72 (- 2.14) Planed volume, million KZT 200.0 ( 0) Actual volume, million KZT 444.8 (- 658.8) The cutting off price, KZT 98.81 (+ 0.16) The weighted average price, KZT 98.81 (+ 0.16) Maximum yield, % p.a. 15.66 (- 2.13) Weighted average yield., % p.a. 15.66 (- 2.13) Weighted average yield., eff., % p.a. 16.84 (- 2.48) The comparison with the previous placement is not absolutely correct, because that time there were other condition in the market. Present time is characterized first of all by banks' tenge deficiency. In opinion of the IRBIS's analysts it is the main reason of demand reduction. The investors' desire to purchase the notes was illustrated by significant growth of prices stated in the applications. But it is not enough of free money. The general situation in the market encourage the National Bank with it's desire to reduce service price. At growth of banks of the second tier accounts the Bank, apparently, will be able to reduce the non-indexed notes rate - while tenge devaluation rate remain insignificant.