Complete results of MEKKAM-6 #150 offering
16.06.00 00:00
/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.