Complete results of MEKKAM-6 #133 offering

/IRBIS, Apr.3, 00, retransmitted due to incorrectly shown maturity/ - 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 KZ46L0510A07 KZ46L2809A03 KASE trade code MKM006.133 MKM006.132 IRBIS registration number 133/6 132/6 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 Sep.28,2000 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 the influence of the last negative news, which increases the devaluation expectations. Considering the world oil market news and possibility of their influence on Kazakhstan, six month non-indexed by devaluation SS look today as the least attractive. But the Ministry of finance tries to keep the former level of yield. Today such position cost the emitter almost KZT50 mln, which could be taken at higher yield. In the secondary market tenge SS with similar term of circulation have the yield of about 17% APR, 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.