Complete results of notes-35 #359 placement

/IRBIS, Jan.12, 00/ - On January 12 the National Bank of Kazakhstan held the 359th auction for offering notes with 100 tenge par value. Circulation term - 35 days. Announced volume of the issue - 600 mln tenge. Size of satisfaction of noncompetitive applications is 60% of specified amount. The auction was held with additional placement, carried out during the day. Following is the complete offering data and comparison with previous similar auction: Type of the securities Notes-35 Notes-35 NSIN KZ95K1702A04 KZ95K0902A06 KASE trade code NTK361.035 NTK359.035 IRBIS registration number 361/N 359/N Par value, tenge 100.00 100.00 Issuance date Jan.12,00 Jan.05,99 Circulation start date Jan.13,00 Jan.06,99 Maturity date Feb.17,00 Feb.09,00 Days in circulation 35 days 35 days Planned volume, mln tenge 600.0 (+ 300.0) Number of Primary dealers 12 (+ 1) Demand, mln tenge 2 561.6 (+ 766.9) Weighted average yield ondemand, % APR 13.91 (+ 0.43) Actual volume, mln tenge 1 720.1 (+ 238.6) Cut-off price, tenge 98.67 (- 0.05) Weighted average price, tenge 98.71 (- 0.02) Maximum yield, % APR 14.02 (+ 0.54) Weighted average yield, % APR 13.59 (+ 0.21) Effective weighted av. yield, % APR 14.45 (+ 0.24) The emitter has shown today an obvious interest in the big attraction. After the pre-holiday's expansion of a money base a banks of the second tier liquidity has grown sharply. It devaluate the national currency and can result in the inflation growth. Therefore the National Bank partially has agreed with the prices stated in the applications. The dealers have not missed a capability to put pressure upon the emitter and obtaining of the short and quite profitable tool: the applications prices have been decreased essentially. In opinion of the IRBIS analysts, the banks and their customers have chances to receive on tomorrow's auction rather cheap note-49. However it is completely obvious that after market stabilization the National Bank will return to the tactics of notes yield reduction and will be more firm at the cutting off price formation.