Complete results of MEKKAM-03 #273 offering

/IRBIS, Oct 20, 00/ - On October 20 the Ministry of Finance (MOF) and the National Bank of Kazakhstan held 273rd auction for MEKKAM-3 offering (91 days). Announced volume of the issue is determined at KZT400 mln. Size of satisfaction for non-competitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar tranche: Type of the securities MEKKAM-3 MEKKAM-3 NSIN KZ43L1901A13 KZ43L0501A19 KASE trade code MKM003.273 MKM003.272 IRBIS registration number 273/3 272/3 Par value, KZT 100.00 100.00 Issuance date Oct 20, 00 Oct 06, 00 Circulation start date Oct 20, 00 Oct 06, 00 Maturity date Jan 19, 01 Jan 05, 01 Days in circulation 91 91 Number of Primary dealers 8 (- 5) Demand, mln KZT 1,988.8 (+ 110.6) WA yield on demand, % APR 8.25 (- 0.87) Planned volume, mln KZT 400.0 (+ 100.0) Actual volume, mln KZT 206.8 (- 21.6) Cut-off price, % of par value 98.19 (+ 0.15) Weighted average price, % of par value 98.19 (+ 0.15) Maximum yield, % APR 7.37 (- 0.62) Weighted average yield, % APR 7.37 (- 0.62) Effective weighted average yield, % APR 7.58 (- 0.67) The Ministry of Finance (MOF) says no applications were submitted by non- residents. The last floatation on the week displayed MOF intention to limit its borrowing by planned volume even if demand will be high. The issuer left KZT1.7 bln below the cut-off price and decreased yields for its bonds. Thus moving them near to yields of notes.