Complete results of notes-49 #363 placement

/IRBIS, Jan.19, 00/ - On January 19 the National Bank of Kazakhstan held the 363nd auction for offering notes with 100 tenge par value. Circulation term - 49 days. Announced volume of the issue - 500 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-49 Notes-49 NSIN KZ97K0903A01 KZ97K0303A07 KASE trade code NTK363.049 NTK362.049 IRBIS registration number 363/N 362/N Par value, tenge 100.00 100.00 Issuance date Jan.19,00 Jan.13,00 Circulation start date Jan.20,00 Jan.14,00 Maturity date Mar.09,00 Mar.03,00 Days in circulation 49 days 49 days Demand, mln tenge 422.9 (- 275.8) Weighted average yield ondemand, % APR 14.08 (- 0.31) Planed volume, mln tenge 500.0 (+ 500.0) Actual volume, mln tenge 376.6 (+ 53.2) Cut-off price, tenge 98.18 (+ 0.02) Weighted average price, tenge 98.18 ( 0) Maximum yield, % APR 13.77 (- 0.15) Weighted average yield, % APR 13.77 ( 0) Effective weighted av. yield, % APR 14.61 ( 0) There is an tenge deficiency in the market. The dealers did not try to speculate for a tenge fall. However there were no big demand, maybe due to the uncertainty in the nearest future of the market. The circulation term of the offered notes requires the point forecast, but the new tenge strengthening tendency is not enough indistinct. The National Bank has not shown an aspiration to draw maximum, as the dollar demand has decreased sharply even without it. The "excessive" money go from the banks' accounts in the budget as a result of its customers payments. Thus, absence of necessity to sterilize the market has allowed the emitter to keep securities yield at the former level. Hereinafter, at the tenge strengthening, the National Bank, will doubtlessly return to the debt service reduction.