Complete results of MEKKAM-3 #264 offering

/IRBIS, May 11, 00/ - Today the Ministry of finance of Kazakhstan with the National Bank held the 264th auction for offering MEKKAM-3 (91 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. Following is the complete offering data and comparison with previous similar auction: Type of the securities MEKKAM-3 MEKKAM-3 NSIN KZ43L1108A06 KZ43L2807A08 KASE trade code MKM003.264 MKM003.263 IRBIS registration number 264/3 263/3 Par value, tenge 100.00 100.00 Issuance date May 11, 2000 Apr. 27, 2000 Circulation start date May 12, 2000 Apr. 28, 2000 Maturity date Aug.11, 2000 July 28, 2000 Days in circulation 91 91 Number of Primary dealers 14 (- 1) Demand, mln KZT 2,577.9 (+ 1,346.3) WA yield on demand, % APR 14.72 (- 0.35) Planned volume, mln KZT 500.0 ( 0) Actual volume, mln KZT 1,366.6 (+ 677.9) Cut-off price, % of par value 96.52 (+ 0.07) Weighted average price, % of par value 96.52 (+ 0.07) Maximum yield, % APR 14.42 (- 0.30) Weighted average yield, % APR 14.72 (- 0.30) Effective weighted average yield, % APR 15.22 (- 0.33) The Ministry of finance says no applications were submitted by non- residents. MEKKAM-3 has again proved its popularity on the market during excessive liquidity of tenge. Recent growth of dollar rate did nothing to affect investors behavior. Demand parameters confirm desirability of these securities. High demand could be also indicative as it allows to predict forthcoming stabilization on forex market considering tomorrow floatation of MEKKAM-12 and notes-55.