Full actual yield on maturity of MEIKAM-3 of third issue - 22.15% APR

/IRBIS, Dec.07, 99/ - According to established schedule, on December 07 the Ministry of Finance of Kazakhstan should pay coupon interest on indexed to inflation state treasury bills MEIKAM-3 of the third issue (KZ31L3011991, 91 days). Repayment of the principal debt was made on November 25, 1999. Fixed coupon payment of MEIKAM-3 #3 - 9.75% APR. Inflation in last three months, according to the National Bank of Kazakhstan, is 3.1% (September - 0.7%; October - 0.7%; November - 1.7%). Taking into account these numbers, total amount of coupon payment equals 16,612,500.00 tenge, which corresponds to an actual yield of 22.15% APR at 300 mln tenge issue volume. This figure has been calculated for 91 days of circulation. If an actual number of days, which passed from the issuance date till coupon payment day (97), are taken into consideration, then yield will equal 20.78% APR.