Complete results of notes-35 #390 offering

/IRBIS, Apr. 19, 00/ - On April 19 the National Bank of Kazakhstan held the 387th auction for offering notes with KZT100 par value. Circulation term is 35 days. Announced volume of the issue is KZT300 mln. Size of satisfaction of incompetitive 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 and comparison with previous similar auction: Type of the securities Note-35 Note-35 NSIN KZ95K2505A01 KZ95K1805A00 KASE trade code NTK390.035 NTK388.035 IRBIS registration number 390/N 388/N Par value, tenge 100.00 100.00 Issuance date April 11, 2000 April 11, 2000 Circulation start date April 13, 2000 April 13, 2000 Maturity date May 18, 2000 May 18, 2000 Days in circulation 35 35 Number of participants - Primary dealers 300.0 ( 0) Demand, mln KZT 8 (- 2) WA yield on demand, % APR 669.9 (+ 0.3) Planned volume, mln KZT 13.06 (+ 0.11) Actual volume, mln KZT 449.4 (- 117.6) Cut-off price, KZT 98.78 ( 0) Weighted average price, KZT 98.78 ( 0) Maximum yield, % APR 12.84 ( 0) Weighted average yield, % APR 12.84 ( 0) Effective weighted average yield, % APR 13.61 ( 0) There is very stable demand in the sector. However today it became a little bit more rigid despite of tenge strengthening during last 1.5 already weeks. Demand tightening caused an decreasing in volume of attraction. Results of auction are indicative: the emitter do not going to increase yield. The speech is rather about a psychological effect: the investor is obliged to believe in inflexibility of the National Bank. Such policy of the Ministry of Finance and the Bank looks more and more convincingly. There are no serious attempts to affect it.