Complete results of notes-42 offering #380

/IRBIS, March 17, 00/ - On March 17 the National Bank held the 380th 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 Notes-63 NSIN KZ99K1905A05 KZ99K1205A05 KASE trade code NTK380.063 NTK376.063 IRBIS registration number 380/N 376/N Par value, tenge 100.00 100.00 Issuance date March 17, 2000 March 9, 2000 Circulation start date March 17, 2000 March 10, 2000 Maturity date May 15, 2000 May 12, 2000 Days in circulation 63 63 Number of Primary dealers 9 (- 2) Demand, mln KZT 118.7 (- 661.9) WA yield on demand, % APR 14.21 (+ 0.49) Planned volume, mln KZT 300.0 ( 0) Actual volume, mln KZT 101.3 (- 461.8) Cut-off price, % of par value 97.76 (+ 0.01) Weighted average price, % of par value 97.77 ( 0) Maximum yield, % APR 13.18 (- 0.06) Weighted average yield, % APR 13.18 ( 0) Effective weighted average yield, % APR 13.89 ( 0) Demand was not big today as against to expectations. Judge by activity in the currency sector, dealers chosen the US dollar. The increased devaluation expectations do not allow agreeing with yield, offered by the emitter. Even despite of rather small circulation term. The market waits for currency papers. But till now the emitters ignore the investors' needs and they can allow it for itself. The Ministry of Finance for next time has cancelled today MEKKAM-6 issue. The conditions stated by the dealers, have appeared unacceptable. The National Bank has kept yield at a former level has taken as much as the appropriate cutting of price has allowed. The twelfth week of 2000 the National Bank of Kazakhstan in the SS primary market has completed with the following results. At actual volume of redemption of 901.6 million tenges the emitter has attracted on three auctions 602.9 million tenges. The week net - drawing balance of the National Bank of Kazakhstan is minus 298.7 million tenges.