MEOKAM-24 of the Ministry of Finance of Kazakhstan issue #18 - complete offering results

/IRBIS, Oct.4, 00/ - On October 3 the Ministry of Finance and the National Bank of Kazakhstan held 18th auction for MEOKAM-24 floatation (728 days). Announced volume of the issue is determined by the issuer at KZT350 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 МЕОКАМ-24 МЕОКАМ-24 NSIN KZ52L0310A26 KZ52L1209A28 KASE trade code MOM024.018 MOM024.017 IRBIS registration number 18/24 17/24 Par value, KZT 1,000.00 1,000.00 Issuance date Oct.3, 00 Sep.11, 00 Payment day (till 11:00AM Almaty time) Oct.5, 00 Sep.14, 00 Circulation start date Oct.5, 00 Sep.14, 00 Maturity date Oct.3, 02 Sep.12, 02 Days in circulation 728 728 Coupon payments dates Apr.5, 01 March 15, 01 Oct.4, 01 Sep.13, 01 Apr.4, 02 March 14, 02 Oct.3, 02 Sep.12, 02 Number of primary dealers 10 (+ 4) Demand, mln KZT 1 057.0 (+ 797.0) Max. fixed yield on demand, % APR 60.00 (- 2.50) Planned volume, mln KZT 350.0 (+ 100.0) Actual volume, mln KZT 970.0 (+ 720.0) Set up fixed yield, % APR 15.90 ( 0) According to the Ministry of finance the non-residents made no applications. As it is expected, excessive liquidity of the second tier banks in tenge had a positive impact on the demand parameters. Despite the fact that the National Bank was conducting the offering of its notes, the demand for MEOKAM was comparable with the volume of bids made at the offering of the notes. The Ministry of Finance is clearly successful at stretching the internal debt. By the results of September, 51% of the issuer's borrowings were made of two- three-year bonds, and their yields were gradually decreasing.