Complete results of placement of MEKAVM-6 #22/6B

/IRBIS, Nov.17, 99/ - On November 16 the Ministry of Finance of Kazakhstan with the National Bank held the 22nd auction on placement of MEKKAVM-6 (182 days). Announced volume of the issue is set at $3 mln. Size of satisfaction of noncompetitive applications is 50%. Following is the complete placement data and comparison with previous similar tranche. Type of the securities МЕКАВМ-6 МЕКАВМ-6 NSIN KZ46L1805A09 KZ46L1105A06 KASE trade code МВМ006.022 МВМ006.021 IRBIS registration number 22/6B 21/6B Nominal value, tenge 100.00 100.00 Issuance date Nov. 16, 99 Nov. 9, 99 Circulation start date Nov. 18, 99 Nov. 11, 99 Maturity date May 18, 2000 May 11, 2000 Days in circulation 182 182 Number of Primary dealers 8 (- 2) Demand, mln USD 6.0 (- 12.9) Weighted average yield on demand, % APR 9.56 (-9.86) Planned volume, mln USD 3.0 (0) Actual volume, mln USD 3.3 (- 2.1) Cut-off price, USD 95.67 (0) Weighted average price, USD 95.67 (0) Maximum yield, % APR 9.05 (0) Weighted average yield, % APR 9.05 (0) Effective weighted average yield,% APR 9.36 (0) Yield is given in currency terms. The Ministry of Finance informs that no applications were submitted by non- residents. Primary market for the debt of the Ministry of Finance, as before, is not diverse. Change in the parameters of the demand seems to be regular, taking into account the events on the currency market. Indexed at devaluation securities are becoming less popular, demand for them is shrinking. It can be assumed, based on some aspects of the President's speech at II Congress of the financiers, that the Ministry of Finance may stop issuing MEKAVM. Stabilization of tenge, which is observed lately, is caused by an economic factors and it can make the emitter to issue only MEKKAM. The Ministry of Finance will end the forty seventh week on the primary market with following results. With actual repayment volume of 1,210.8 mln tenge (104.9 mln tenge + $7.7 mln at official repayment rate of 139.80 tenge) the emitter raised 722.1 mln tenge at two auctions (253.8 mln tenge + $3,349 mln at official rate on November 17, 99). Balance of the Ministry of Finance's internal debt for this week is estimated to equal negative 488.5 mln tenge.