Complete results of placement of MEKKAM-3 #249

/IRBIS, Nov.18, 99/ - On November 18 the Ministry of Finance of Kazakhstan and the National Bank have conducted the 249th auction for placement of MEKKAM-3 (91 days). The emitter determines announced volume of issue at 500 million tenges. Satisfaction size of the incompetitive applications - 50% from the established volume. The complete data and comparison with the previous comparable issue are given below. Type of securities МЕККАМ-3 МЕККАМ-3 NSIN KZ43L1802A05 KZ43L1702A06 Trade code at KASE MKM003.249 MKM003.248 IRBIS' registration number 249/3 248/3 Nominal value, tenges 100.00 100.00 Date of issue Nov.18, 99 Nov.15, 99 Beginning of the circulation Nov.19, 99 Nov.18, 99 Date of redemption Feb.18, 99 Feb.17, 99 Maturity 91 days 91 days Number of the Primary dealers 9 (+ 2) Demand, million tenges 1,625,5 (+ 1,174,2) Yield on demand weig. av., % p.a. 17.10 (- 1.09) Scheduled volume, million tenges 500,0 (+ 100.0) Actual volume, million tenges 1,24,7 (+ 870.9) The cutting off price, tenges 96.20 (- 0.02) The weighted average price, tenges 96.23 ( 0) Maximum yield, % p.a. 15.80 (+ 0.09) Weighted average yield, % p.a. 15.67 ( 0) Weighted average yield, eff. % p.a. 16.62 ( 0) According to the information of The Ministry of Finance, no applications were received from non-residents for the auction. The market has believed in the stable and even increasing tenge. The cancellation of the obligatory sale of half of exporters' foreign exchange earnings has not changed anything on the exchange market. A situation for placement of the long not indexed securities was quite favorable. On Friday placement of MEKKAM-6 is planned. Last time these securities were placed on the March 29 auction, before the floating rate introduction. Thus, it is difficult to predict the auction results.