Complete results of placement of MEKKAM-6 #119

/IRBIS, Jan.14, 00/ - On January 14 the Ministry of Finance of Kazakhstan and the National Bank have conducted the 119-th auction for placement of MEKKAM-6 (182 days). The emitter determines announced volume of issue at 400 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-6 МЕККАМ-6 NSIN KZ46L2007A03 KZ46L2106A03 Trade code at KASE MKM006.119 MKM006.115 IRBIS' registration number 119/6 115/6 Nominal value, USD 100.00 100.00 Date of issue Jan.14, 1999 Dec.22, 1999 Beginning of the circulation Jan.14, 1999 Dec.22, 1999 Date of redemption July 14, 2000 June 21, 2000 Maturity 182 days 182 days Number of the Primary dealers 6 ( 0) Demand, million USD 351.5 (- 2 748.6) Yield on demand weig. av., % p.a. 18.15 (+ 1.49) Scheduled volume, million USD 500.0 ( 0) Actual volume, million USD 142.2 (- 2 904.3) The cutting off price, USD 92.15 (- 0.21) The weighted average price, USD 92.15 (- 0.22) Maximum yield, % p.a. 17.04 (+ 0.50) Weighted average yield, % p.a. 17.04 (+ 0.52) Weighted average yield, eff. % p.a. 17.76 (+ 0.56) According to the information of The Ministry of Finance, no applications were received from non-residents for the auction. It was the first productive placement of MEKKAM -6 in 2000. As it was expected, the demand was very low, and the Ministry of Finance was forced to increase the yield of securities essentially. In opinion of the IRBIS analysts, it is still far from the compromise. The market changes, the dollar increases. The dealers predict the interest growth to the indexed State Securities. It is possible that the tenge securities emitters will be forced to increase the tenge securities yield more.