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