Complete results of placement of MEKKAM-3 #254

/IRBIS, Dec.09, 99/ - On December 09 the Ministry of Finance of Kazakhstan and the National Bank have conducted the 254-th 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 KZ43L1003A02 KZ43L0903A05 Trade code at KASE MKM003.254 MKM003.253 IRBIS' registration number 254/3 253/3 Nominal value, USD 100.00 100.00 Date of issue Dec.02, 1999 Dec.07, 1999 Beginning of the circulation Dec.10, 1999 Dec.09, 1999 Date of redemption Mar.10, 2000 Mar.09, 2000 Maturity 91 days 91 days Number of the Primary dealers 11 (+ 3) Demand, million USD 2,307.1 (+ 1,028.3) Yield on demand weig. av., % p.a. 15.89 (- 0.21) Scheduled volume, million USD 500.0 ( 0) Actual volume, million USD 947.2 (- 89.6) The cutting off price, USD 96.24 (+ 0.01) The weighted average price, USD 96.24 ( 0) Maximum yield, % p.a. 15.63 (- 0.04) Weighted average yield, % p.a. 15.63 ( 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. Nothing was changed in the sector, except for the demand parameters. As it was suposed a capability of the reinvestment of the means receiving through the payment for the earlier issued securities, guaranteed to the emitter essential rise in the applications volume and prices. But the emitter has kept the former cutting off parameters. In the IRBIS's experts opinion, the next week placements of MEKKAM-3 will go under the same scheme: the Ministry of Finance will not change the yield, attracting the highest possible sums.