Complete results of placing of MEKAVM-6 #21/6B

09.11.99 00:00
/IRBIS, Nov.09, 99/ - November 09 the Ministry of Finance of Kazakhstan together with the National Bank has conducted the 21-st auction on placement of MEKAVM-6 (182 days). Announced volume of issue is determined by the emitter at 3 millions of US dollars. Satisfaction size of the incompetitive applications is 50% from established volume. The complete data and comparison with the previous comparable issue are given below. Type of securities MEKAVM-6 MEKAVM-6 NSIN KZ46L1105A06 KZ46L0405A05 Trade code at KASE МВМ006.021 МВМ006.020 IRBIS' registration number 21/6B 20/6B Nominal value, USD 100.00 100.00 Date of issue Nov.09, 99 Nov.02.99 Beginning of circulation Nov.11, 99 Nov.04.99 Date of redemption May 11.99 May 04.99 Term of circulation 182 days 182 days Number of the Primary dealers 10 (- 1) Demand, million USD 18.9 (+ 12.5) Yield on demand weighted av., % p.a. 19.42 (+ 9.56) Scheduled volume, million USD 3.0 (0) Actual volume, million USD 5.4 (- 0.18) 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. By the placement results, tactics of the emitter remains constant, that cannot be told about Primary dealers' and their customers' tactics. Today they tried to lower price of the obligations, however it has not affected the emitter behavior. The demand has appeared very high, but its prices (19.42% p.a. in hard currency expression on average) has been unreal. Firmness of the placement actual prices and excess of demand over supply testify to impossibility of effective pressure on the emitter. The experts of IRBIS do not wait for any essential changes in the MEKAVM-6 primary market.