National Bank notes-84 of #450 issue - floatation results
23.10.00 00:00
/IRBIS, Oct.23, 00/ - Today the National Bank of Kazakhstan (NBK) held the
450th auction for floatation of notes with KZT100 par value and 84 day
circulation term. Announced volume of the issue is set by the issuer at
KZT700 mln. Size of satisfaction of non-competitive applications is 50% of
specified amount.
Following are complete offering data.
Type of the securities Notes-84 Notes-84
NSIN KZ9CK1501A14 KZ9CK1101A19
KASE trade code NTK450.084 NTK448.084
IRBIS registration number 450/N 448/N
Par value, KZT 100.00 100.00
Issuance date Oct.18, 00 Oct.18, 00
Circulation start date Oct.19, 00 Oct.19, 00
Maturity date Jan.11, 01 Jan.11, 01
Days in circulation 84 84
Number of Primary agents 7 (+ 1)
Demand, mln KZT 799.6 (+ 352.8)
WA yield on demand, % APR 7.99 (- 0.04)
Planned volume, mln KZT 700.0 ( 0)
Actual volume, mln KZT 550.6 (+ 379.4)
Cut-off price, % of par value 98.20 (- 0.01)
WA price, % of par value 98.21 ( 0)
Maximum yield, % APR 7.94 ( 0)
Weighted average yield, % APR 7.90 ( 0)
Effective WA yield, % APR 8.14 ( 0)
Compared with previous auction of the notes-84 demand became "softer".
However, the issuer was not able to lower the yield again. It is hard to do so
with the notes of this type. It is enough to say that at the auction the yield
of MEKKAM-3, more lengthy securities, was lower than that of the notes-84.
In general, the first auctions of the week show that the banks are taking a
wait-and-see position both on the currency market and on primary market of
GB. Their liquidity in tenge is close to excessive. Meanwhile, demand for GB
can be considered as modest, and the market was not active in currency
circulation sector.