Complete results of MEKKAM-6 #145 offering

/IRBIS, May 22, 00/ - Today the Ministry of Finance of Kazakhstan (MOF) and the National Bank held 145th 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 are the complete offering data and comparison with previous similar auction: Type of the securities MEKKAM-6 MEKKAM-6 NSIN KZ46L2311A04 KZ46L1711A02 KASE trade code MKM006.145 MKM006.144 IRBIS registration number 145/6 144/6 Par value, tenge 100.00 100.00 Issuance date May 22, 2000 May 18, 2000 Circulation start date May 25, 2000 May 19, 2000 Maturity date Nov. 23, 2000 Nov. 17, 2000 Days in circulation 182 182 Number of Primary dealers 10 (+ 2) Demand, mln KZT 804.2 (+ 107.3) WA yield on demand, % APR 15.45 (- 0.42) Planned volume, mln KZT 500.0 ( 0) Actual volume, mln KZT 473.0 (+ 46.7) Cut-off price, % of par value 92.94 (+ 0.17) Weighted average price, % of par value 92.94 (+ 0.17) Maximum yield, % APR 15.19 (- 0.39) Weighted average yield, % APR 15.19 (- 0.39) Effective weighted average yield, % APR 15.77 (- 0.42) MOF says no applications were submitted by non-residents. The auction results bring an impression that increased deficit of tenge on the market did not affect demand parameters. Despite the absence of fund flow from repayments of previously issued securities, the auction did not register any tightening of demand. It seems that strong pre-summer tenge drives up an investment attractiveness of MEKKAM-6.