Complete results of MEKKAM-6 #141 offering

/IRBIS, May 2, 00/ - Today the Ministry of finance and National Bank of Kazakhstan held the 141t auction for offering MEKKAM-6 (182 days). Announced volume of the issue - 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 KZ46L0211A09 KZ46L2710A01 KASE trade code MKM006.141 MKM006.140 IRBIS registration number 141/6 140/6 Par value, tenge 100.00 100.00 Issuance date May 2,2000 Apr.28,2000 Circulation start date May 4,2000 Apr.28,2000 Maturity date Nov.2,2000 Oct.27,2000 Days in circulation 182 182 Number of Primary dealers 10 ( 0) Demand, mln KZT 419.4 (- 79.9) WA yield on demand, % APR 16.73 (- 0.10) Planned volume, mln KZT 500.0 ( 0) Actual volume, mln KZT 305.8 (+ 4.9) Cut-off price, % of par value 92.40 (+ 0.13) Weighted average price, % of par value 92.40 (+ 0.13) Maximum yield, % APR 16.45 (- 0.30) Weighted average yield, % APR 16.45 (- 0.30) Effective weighted average yield, % APR 17.13 (- 0.33) The Ministry of finance says no applications were submitted by non- residents. As before, none of considerable changes occurred at the sector. The emitter is not confused with relatively low demand on the instrument as the previous week brought large positive balance of net borrowing. Even at this level of demand the Ministry of Finance could manage to decrease MEKKAM yields. Taking into consideration weighted average yield estimated according to all filed applications, one can note that investors follow the rules of the game guided by emitter's tactics and raise prices with every auction.