Complete results of MEKKAM-6 #133 offering

/IRBIS, April 3, 00/ - Today the Ministry of finance of Kazakhstan with the National Bank held the 133rd auction for offering MEKKAM-6 (182 days). Announced volume of the issue is KZT500 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar issue: Type of the securities MEKKAM-6 MEKKAM-6 NSIN KZ46L2809A03 KZ46L2209A09 KASE trade code MKM006.132 MKM006.131 IRBIS registration number 132/6 131/6 Par value, tenge 100.00 100.00 Issuance date Apr. 3, 2000 March 27, 2000 Circulation start date Apr. 6, 2000 March 30, 2000 Maturity date Oct. 5,2000 Sep. 28, 2000 Days in circulation 182 182 Number of Primary dealers 6 (- 5) Demand, mln KZT 98.5 (- 234.8) WA yield on demand, % APR 17.34 (+ 0.33) Planned volume, mln KZT 500.0 ( 0) Actual volume, mln KZT 49.9 (- 235.6) Cut-off price, % of par value 92.24 ( 0) Weighted average price, % of par value 92.24 ( 0) Maximum yield, % APR 16.83 ( 0) Weighted average yield, % APR 16.83 ( 0) Effective weighted average yield, % APR 17.53 ( 0) The Ministry of finance says no applications were submitted by non- residents. MEKKAM-6 demand continues to fall under influencing of the last negative news, which increases the devaluation expectations. Allowing the world petroleum market news and opportunity of their influence on Kazakhstan, six- month not devaluation indexed SS look today as the unattractive. But the Ministry tries to keep the former level of yield. Today such position cost to the emitter almost 50 million tenges, which could be taken at the higher yield. In the secondary market tenge SS with the similar term of circulation have the yield of about 17% p.a., though such deals are extremely rare. Most likely, the emitters will be forced to add on the market MEKAVM, as the situation with budget servicing can be complicated already in the nearest future.