Full actual yield of the first issue MEIKAM-9 at the maturity will equal 18.22% APR

/IRBIS, Dec.4, 00/ - Based on the schedule, on December 7, 2000 the Ministry of Finance of Kazakhstan should pay out the coupon on state treasury bills indexed by the inflation, the first issue MEIKAM-9 (KZ33L3011A00, circulation term - 273 days). The principal amount of the issue was paid by the issuer on Nov.30,00 amounting to KZT30 mln. Fixed coupon rate of MEIKAM-9 #1 - 10.75% APR. The inflation is 3.2% for the last three months (0.5% in September, 1.2% in October, 1.5% in November) informs the National Bank of Kazakhstan. Based on these data, total coupon to be paid by the Ministry of Finance for the last quarter is estimated by the IRBIS at KZT1,766,250. Total amount of all coupons paid in 9 months is KZT4,098,750. Considering the principal amount of the bonds actual yield of MEIKAM-9 equals 18.22% APR. This figure was obtained when the principal payment date (Nov.30,00) is used as a calculation basis. When the coupon payment date is used instead (Dec.7,00) , actual yield of the bonds equals 17.76% APR for 280 days.