Complete placement results of notes-49 #349

/IRBIS, Nov.10, 99/ - On November 10 the National Bank of Kazakhstan held the 349th auction on placement of notes with 100 par value. Circulation term is 49 days. Announced volume of the issue is set by the emitter at 200 mln tenge. Size of satisfaction of noncompetitive applications is 60%. The auction was held with additional placement, which was carried out the same day. Following is the complete auction data (no comparison is given, since previous similar auction was held more than eight months ago). Type of the securities Notes-49 NSIN KZ97K3012992 KASE trade code MKM003.247 IRBIS registration number 349/N Nominal value, tenge 100.00 Issuance date Nov. 10, 99 Circulation start date Nov. 11, 99 Maturity date Dec. 30, 99 Days in circulation 49 Number of Primary dealers 7 Demand, mln tenge 587.7 Weighted average yield on demand, % APR 14.93 Planned volume, mln USD 200.0 Actual volume, mln USD 547.2 Cut-off price, tenge 98.16 Weighted average price, tenge 98.16 Maximum yield, % APR 13.92 Weighted average yield, % APR 13.92 Effective weighted average yield, % APR 14.78 The next placement of notes proved that the National Bank intends to lower the yield of its debts further, with rapid paces at that. At previous placement of non-indexed notes (notes-42, KZ96K1712991) weighted average effective yield equaled to 15.80% APR. based on this parameter, this issue is less attractive in investment terms. However, the market accepts "the rules of the game", imposed by the emitter. Demand was not very large, but quite soft in terms of price. The emitter satisfied almost all submitted applications. In IRBIS analysts opinion, tomorrow the National Bank will try to decrease the yield of its debt at placement of indexed notes-21.