Complete results of MEKKAM-3 #276 offering

/IRBIS, Dec.14, 00/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held 276th auction for MEKKAM-3 offering (91 days). Announced volume of the issue is determined at KZT100 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 KZ43L1603A14 KZ43L0103A11 KASE trade code MKM003.276 MKM003.275 IRBIS registration number 276/3 275/3 Par value, KZT 100.00 100.00 Issuance date Dec.14, 00 Nov.28, 00 Circulation start date Dec.15, 00 Nov.30, 00 Maturity date March 16, 01 March 1, 01 Days in circulation 91 91 Number of Primary dealers 11 ( 0) Demand, mln KZT 593.8 (- 60.9) WA yield on demand, % APR 8.37 (- 1.38) Planned volume, mln KZT 100.0 ( 0) Actual volume, mln KZT 100.0 ( 0) Cut-off price, % of par value 98.21 ( 0) WA price, % of par value 98.21 ( 0) Maximum yield, % APR 7.29 ( 0) WA yield, % APR 7.29 ( 0) Effective WA yield, % APR 7.49 ( 0) The Ministry of Finance (MOF) says no applications were submitted by non- residents. No changes in the sector. The issuer raised as much as it needed to. This affects demand parameters as MOF tactics is clear. Large volume of bids will only lead to lowering of the yield, thus satisfying only the issuers needs.