MEOKAM-36 of the Ministry of Finance of Kazakhstan issue #8 - complete offering results

/IRBIS, Oct 16, 00/ - On October 16 the Ministry of Finance and the National Bank of Kazakhstan held the 8th auction for MEOKAM-36 floatation (1,092 days). Announced volume of the issue is determined by the issuer at KZT600 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following are complete offering results and the comparison with previous similar tranche. Type of the securities MEOKAM-36 MEOKAM-36 NSIN KZ53L1610A38 KZ53L0210A34 KASE trade code MOM036.008 MOM036.007 IRBIS registration number 8/36 7/36 Par value, KZT 1,000.00 1,000.00 Issuance date Oct 16, 00 Oct 02, 00 Payment day (till 11:00AM Almaty time) Oct 19, 00 Oct 05, 00 Circulation start date Oct 19, 00 Oct 05, 00 Maturity date Oct 16, 03 Oct 02, 03 Days in circulation 1,092 1,092 Coupon payments dates Apr 19, 01 Apr 05, 01 Oct 18, 01 Oct 04, 01 Apr 18, 02 Apr 04, 02 Oct 17, 02 Oct 03, 02 Apr 17, 03 Apr 03, 03 Oct 16, 03 Oct 02, 03 Number of primary dealers 4 (- 8) Demand, mln KZT 941,8 (- 248,2) Max. fixed yield on demand, % APR 60,00 ( 0) Planned volume, mln KZT 600,0 (+ 350,0) Actual volume, mln KZT 773,8 (+ 192,8) Set up fixed yield, % APR 17,30 ( 0) According to the Ministry of finance the non-residents made no applications. First auction of the week revealed no new trends. The demand decreased and this looked rather naturally considering NBK's sterilization of correspondent accounts conducted on previous week. The MOF aimed at maximal borrowing volume at MEOKAM floatation used the demand in the same direction. Actual issue volume is dictated by yields stated in the submitted bids. There are no reasons yet for the issuer to increase yields for MEOKAM even if it interested in domestic debt restructuring. Whereas, investors do not find any reason to lower yield of their bids. Thus, its looked like investors and the MOF reached certain compromise in this market segment.