Complete results of notes-42 #366 offering

/IRBIS, Jan.27, 00/ - On January 27 the National Bank held the 366th auction for offering notes with 100 tenge par value and 42 day circulation term. Announced volume of the issue is determined by the emitter at 150 mln tenge. Size of satisfaction of noncompetitive applications is 60% of specified amount. The auction was held with additional placement. Following is the complete offering data and comparison with previous similar auction: Type of the securities Notes-42 Notes-42 NSIN KZ96K1003A09 KZ96K1712991 KASE trade code NTK366.042 NTK348.042 IRBIS registration number 366/N 348/N Par value, tenge 100.00 100.00 Issuance date Jan.27,1999 NOv.04,1999 Circulation start date Jan.28,1999 Nov.05,1999 Maturity date Mar.10,2000 Dec.17,2000 Days in circulation 42 42 Number of the primary dealers 9 no data Demand, mln tenge 487.6 (- 260.4) Weighted average yield on demand, % APR 14.18 (- 2.88) Planned volume, mln tenge 150.0 (- 50.0) Actual volume, mln tenge 233.0 (- 167.0) Cut-off price, % of par value 98.50 (+ 0.18) Weighted average price, % of par value 98.50 (+ 0.18) Maximum yield, % APR 13.20 (- 1.61) Weighted average yield, % APR 13.20 (- 1.61) Effective weighted average yield, % APR 13.99 (- 1.82) There was nothing unexpected in the sector. The demand parameters adequately reflected the State Securities secondary market, where the 37-56 days till maturity bonds can be purchased at a higher yield. Proceeding from the KASE transactions, the yield of this type securities varies from 14.02 to 14.15% p.a. maximum and from 13.68 to 13.77% p.a. average weighted. The best unsatisfied supply is characterized by the higher rates too. In opinion of the IRBIS experts, just this circumstance explains rather low investors activity at the today's notes placement. The emitter next time has placed emphasis on decrease of the obligations yield - rather than on the maximum drawing. The fifth calendar week (January 24 - 30) in the State Securities primary market the National Bank has finished with the following results. At the actual redemption volume of 1,741.6 million tenge the emitter has attracted at two auctions 878.2 million tenges. The resultant week balance of the emitter under the notes program is minus 863.4 million tenges.