Complete results of MEKKAM-12 #40 offering

/IRBIS, Apr.6, 00/ - Today the Ministry of finance of Kazakhstan with the National Bank held the 40th auction for offering MEKKAM-12 (364 days). Announced volume of the issue is determined by the emitter at KZT500 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Auction has been held with the additional placement realized during the day. Following is the complete offering data and comparison with previous similar issue: Type of the securities MEKKAM-12 MEKKAM-12 NSIN KZ4CL0604A17 KZ4CL0504A18 KASE trade code MKM012.40 MKM012.39 IRBIS registration number 40/12 39/12 Par value, tenge 100.00 100.00 Issuance date Apr.6,2000 Apr.4,2000 Circulation start date Apr.7,2000 Apr.6,2000 Maturity date Apr.6,2001 Apr.5,2001 Days in circulation 364 364 Number of Primary dealers 7 (+ 2) Demand, mln KZT 182.2 (+ 26.9) WA yield on demand, % APR 19.42 (+ 0.10) Planned volume, mln KZT 500.0 ( 0) Actual volume, mln KZT 20.1 (- 64.6) Cut-off price, % of par value 84.76 ( 0) Weighted average price, % of par value 84.76 ( 0) Maximum yield, % APR 17.98 ( 0) Weighted average yield, % APR 17.98 ( 0) Effective weighted average yield, % APR 17.98 ( 0) The Ministry of finance says no applications were submitted by non- residents. As against the National Bank notes MEKKAM has the low demand. There are no any principal variations in the sector. The emitter does not going to issue more attractive for the investors MEKAVM. Even large volume of debt service cannot urge the Ministry of finance to concede.