Complete results of notes-42 #375 offering

/IRBIS, March 9, 00/ - On March 9 the National Bank held the 376th auction for offering notes with KZT100 par value. Circulation term is 63 days. Announced volume of the issue is determined by the emitter at KZT300 mln. Size of satisfaction of noncompetitive applications is 60% of specified amount. The auction was held with additional placement, which was carried out the same day. Following is the complete offering data. Previous issue of such notes was held on August 5, 1998. Type of the securities Notes-63 NSIN KZ99K1205A05 KASE trade code NTK376.063 IRBIS registration number 376/N Par value, tenge 100.00 Issuance date March 9,2000 Circulation start date March 10,2000 Maturity date May 12,2000 Days in circulation 63 Number of Primary dealers 11 Demand, mln KZT 780,7 WA yield on demand, % APR 13,72 Planned volume, mln KZT 300,0 Actual volume, mln KZT 563,1 Cut-off price, % of par value 97,76 Weighted average price, % of par value 97,77 Maximum yield, % APR 13,24 Weighted average yield, % APR 13,18 Effective weighted average yield, % APR 13,89 The National Bank continues to borrow means on the domestic market, that is stipulated by necessity to sterilize correspondent accounts of the banks, rather than by the NB requirements. NB, most likely, has an purpose to decrease demand in the currency circulation sector. The speed of tenge devaluation for the last week has decreased twice. And it has been stipulated to a great extent by the various notes offered by the National Bank in the primary market. The National Bank uses only part of demand and constantly decreases of the drawing rate. It, on the one hand, is stipulate by the National Bank unwillingness to compete in the State Securities primary with the Ministry of Finance, which today places the MEKAVM-12 seventh issue. On the other hand, NB does not worry about existing dollar rate growth, which, most likely, corresponds to the NB plans.