Complete results of placing of note-35 #347

/IRBIS, Nov.03, 99/ - November 03 the Ministry of Finance of Kazakhstan has conducted auction for notes with 100 days circulation period and 100 tenges of nominal value. Announced volume of issue is determined by the emitter at 3 millions of US dollars. Volume of incompetitive applications satisfaction is 50% from the established volume. An auction was held with additional placement conducted during the day. The complete data and comparison with the previous comparable issue are given below. Type of securities Note-35 Note-35 NSIN KZ95K0912990 KZ95K1111998 Trade code at KASE NTK347.035 NTK340.035 IRBIS' registration number 347/N 340/N Nominal value, USD 100.00 100.00 Date of issue Nov.03, 99 Oct.06, 99 Beginning of the circulation Nov.04, 99 Oct.07, 99 Date of redemption Dec.09, 99 Nov.11, 99 Term of the circulation 35 days 35 days Demand, million USD 2,324.8 (+ 1,880.7) Yield on demand weighted av., % p.a. 16.27 (- 2.90) Scheduled volume, million USD 200.0 ( 0) Actual volume, million USD 1,702.4 (+ 1,302.3) The cutting off price, USD 98.58 (+ 0.24) The weighted average price, USD 98.58 (+ 0.24) Maximum yield, % p.a. 14.98 (- 2.58) Weighted average yield., % p.a. 14.98 (- 2.58) Weighted average yield., eff.,% p.a. 16.03 (- 2.98) The yield is expressed in a hard currency form. The autumn financial market looks more and more similar to that in summer period. Investors unequivocally "voted" today for a stable tenge. Demand has exceeded announced volume of issue by 1,162.4%, in spite of the National Bank essentially reduced yield at the additional placement. The issue has shown, that now banks' free money move from the currency sectors to the primary market of the supershort internal debt. Tactics of the emitter has not changed. There is a work on yield reduction, debt lengthening and, whenever possible, achievement of the net - drawing positive balance. In opinion of the IRBIS analysts, on Thursday at placement of the not- indexed note-42 the National Bank will continue to decrease the notes yield, however it will be impossibly to reach such big demand.