Complete results of MEKAVM-9 #3/B offering

/IRBIS, Jan.18, 00/ - On January 18 the Ministry of finance of Kazakhstan with the National Bank held the third auction for offering MEKAVM-9 (273 days). Announced volume of the issue is determined by the emitter at $4 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar tranche: Type of the securities МЕКАVМ-9 МЕКАVМ-9 NSIN KZ49L1910A08 KZ49L2609A02 KASE trade code МВМ009.003 МВМ009.002 IRBIS registration number 03/9B 02/9B Par value, USD 100.00 100.00 Issuance date Jan.18,2000 Dec.28,1999 Circulation start date Jan.20,2000 Dec.28,1999 Maturity date Oct.19,2000 Sep.26,2000 Days in circulation 273 273 Number of Primary dealers 9 + 2 Demand, mln USD 20.3 (+ 16.7) Weighted average yield ondemand, % APR 10.04 (- 0.91) Planned volume, mln USD 4.0 (- 3.0) Actual volume, mln USD 14.4 (+ 11.2) Cut-off price, USD 93.09 ( 0) Weighted average price, USD 93.10 ( 0) Maximum yield, % APR 9.90 ( 0) Weighted average yield, % APR 9.88 ( 0) Effective weighted average yield,% APR 9.88 ( 0) Yield is given in currency terms. The Ministry of finance says no applications were submitted by non- residents. Compared with previous offering emitter had a big success. If high devaluation seemed to be not so realistic at the end of the year, the return offered by the Ministry of finance has been conceived by the participants and corresponding conclusions have been made. The securities were offered just on time. It can be assumed with quite a high probability that if this type of securities are placed by the emitter in near future, then the Ministry of finance will try to lower the yield.