Complete results of MEKKAM-6 #150 offering

/IRBIS, June 16, 00/ - Today the Ministry of Finance and National Bank of Kazakhstan held 150th auction for offering MEKKAM-6 (182 days). Announced volume of the issue is determined by the issuer at KZT400 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-6 MEKKAM-6 NSIN KZ46L1512A03 KZ46L0812A03 KASE trade code MKM006.150 MKM006.149 IRBIS registration number 150/6 149/6 Par value, KZT 100.00 100.00 Issuance date June 16, 2000 June 08, 2000 Circulation start date June 16, 2000 June 09, 2000 Maturity date Dec. 15, 2000 Dec. 08, 2000 Days in circulation 182 182 Number of Primary dealers 13 (+ 2) Demand, mln KZT 1 757.6 (+ 916.7) WA yield on demand, % APR 13.24 (- 0.94) Planned volume, mln KZT 300.0 (- 100.0) Actual volume, mln KZT 1 086.5 (+ 815.0) Cut-off price, % of par value 93.85 (+ 0.13) Weighted average price, % of par value 93.85 (+ 0.13) Maximum yield, % APR 13.11 (- 0.29) Weighted average yield, % APR 13.11 (- 0.29) Effective weighted average yield, % APR 13.54 (- 0.31) The Ministry of Finance (MOF) says no applications were submitted by non- residents. Despite two auctions on SS offering in TOD terms held during the day, participants easily managed to put free funds in somewhat substantial volume of the demand. Virtually all funds at the banks' accounts that had come from repayments of the previous SS offerings during the week, were reinvested into the new issues. Again, this attitude allowed MOF and NBK to easily decrease MEKKAM and notes yields. There are no sign yet that the conjuncture in this sector will change.