National Bank notes-63 of #466 issue - floatation results

/IRBIS, Nov 29, 00/ - Today the National Bank of Kazakhstan (NBK) held the 466th auction for floatation of notes with KZT100 par value and 63 day circulation term. Announced volume of the issue is set by the issuer at KZT700 mln. Size of satisfaction of non-competitive applications is 60% of specified amount. Auction was held with additional offering conducted during the day. Below is results of the floatation and its comparison with previous issue. Type of the securities Notes-63 Notes-63 NSIN KZ99K0102A16 KZ99K2912A04 KASE trade code NTK466.063 NTK452.063 IRBIS registration number 466/N 452/N Par value, KZT 100.00 100.00 Issuance date Nov. 29, 00 Oct. 27, 00 Circulation start date Nov. 30, 00 Oct. 27, 00 Maturity date Feb. 01, 00 Dec. 29, 00 Days in circulation 63 63 Number of Primary agents 8 (- 3) Demand, mln KZT 1,609.9 (- 724.6) WA yield on demand, % APR 7.73 (- 0.06) Planned volume, mln KZT 700.0 ( 0) Actual volume, mln KZT 1,390.9 (- 296.5) Cut-off price, % of par value 98.69 (+ 0.01) WA price, % of par value 98.69 (+ 0.01) Maximum yield, % APR 7.67 (- 0.06) Weighted average yield, % APR 7.67 (- 0.06) Effective WA yield, % APR 7.91 (- 0.06) Contrast to previous week auctions, the demand for notes is gradually growing. IRBIS experts suggest that falling rates of shortest money is one of the evidence to the process. They fell today from 5.7% down to 4.3%. In other respects the sector demonstrates stability. It is possible that tomorrow auction for notes-77 will find larger demand as market participants reinvest money received from previously redeemed bonds. The NBK is expected to further decrease rates.