MEOKAM-36 of the Ministry of Finance of Kazakhstan issue #15 - complete offering results

/IRBIS, Dec.4, 00/ - Today the Ministry of Finance and the National Bank of Kazakhstan held the 15th auction for MEOKAM-36 floatation (1,092 days). Announced volume of the issue is determined by the issuer at KZT500 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following are complete offering results and the comparison with previous similar auction. Type of the securities MEOKAM-36 MEOKAM-36 NSIN KZ53L0412A30 KZ53L2711A34 KASE trade code MOM036.015 MOM036.014 IRBIS registration number 15/36 14/36 Par value, KZT 1,000.00 1,000.00 Issuance date Dec.04, 00 Nov.27, 00 Payment day (till 11:00AM Almaty time) Dec.07, 00 Nov.30, 00 Circulation start date Dec.07, 00 Nov.30, 00 Maturity date Dec.04, 03 Nov.27, 03 Days in circulation 1,092 1,092 Coupon payments dates June 07, 01 May 31, 01 Dec. 06, 01 Nov.29, 01 June 06, 02 May 30, 02 Dec. 05, 02 Nov.28, 02 June 05, 03 May 29, 03 Dec. 04, 03 Nov.27, 03 Planned volume, mln KZT 500.0 (+ 200.0) Number of primary dealers 11 (+ 1) Demand, mln KZT 844.8 (+ 402.2) Max. fixed yield on demand, % APR 60.00 ( 0) Actual volume, mln KZT 301.1 (+ 24.3) Set up fixed yield, % APR 17.15 (- 0.10) According to the Ministry of Finance (MOF) the non-residents made no applications. There were several factors that favorably affected demand parameters, among them are beginning of the new month and increased investment activity of pension assets management companies (related to specificity of payment schedule). The bid prices allowed to decrease yields for longest bonds of the issuer. However, the issuer had to reject the planned volume. MOF again demonstrated its interest in lowering of yields.