Complete results of placing of MEKAVM-6 #19/6B

26.10.99 00:00
/IRBIS, Oct.26, 99/ - October 26 the Ministry of Finance of Kazakhstan together with the National Bank has conducted the 19th auction for MEKAVM-6 (182 days) placement. Announced volume of issue is determined by the emitter at $3 million. Satisfaction size of the incompetitive applications - 50 % from established volume. The complete data and comparison with the previous comparable transh are given below. Type of securities MEKAVM-6 MEKAVM-6 NSIN KZ46L2704A09 KZ46L2004A06 Trade code at KASE МВМ006.019 МВМ006.018 IRBIS' registration number 19/6B 18/6B Nominal value, USD 100.00 100.00 Date of issue Oct. 26, 99 Oct. 19, 99 Beginning of the circulation Oct. 28, 99 Oct. 21, 99 Date of redemption Mar. 27, 99 Mar. 20, 99 Term of the circulation 182 days 182 days Number of the Primary dealers 9 (- 2) Demand, million USD 5.99 (+ 3.2) Yield on demand weighted av., % p.a. 9.2 (- 0.60) Scheduled volume, million USD 3.0 ( 0) Actual volume, million USD 5.7 (+ 2.3) 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., eff. % 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. The results of auction confirm the presence of the free tenges in the market. The applications have recorded not only essential demand increase but also decrease of the stated yield. The participants have demonstrated the expressed desire to get above the cutting off level. All the more this level in the last time can be easy predicted. In the IRBIS analysts opinion, a positive (from the emitter's point of view) influence has rendered on demand the rigid National Bank's cutting off at the Friday's notes placement, when about 863 million investors tenges remained not placed. The emitter did not change its principle of constant MEKAVM -6 yield, which remained constant already fifth auction, and each time demand exceeded supply. Most likely, the situation in this segment of the market in the near future will not be changed.