Complete results of MEKKAM-3 #277 offering

/IRBIS, Dec.28, 00/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held 277th 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 KZ43L3003A16 KZ43L1603A14 KASE trade code MKM003.277 MKM003.276 IRBIS registration number 277/3 276/3 Par value, KZT 100.00 100.00 Issuance date Dec.28, 00 Dec.14, 00 Circulation start date Dec.29, 00 Dec.15, 00 Maturity date March 30, 01 March 16, 01 Days in circulation 91 91 Number of Primary dealers 7 (- 4) Demand, mln KZT 496.8 (- 97.0) WA yield on demand, % APR 7.46 (- 0.91) Planned volume, mln KZT 100.0 ( 0) Actual volume, mln KZT 79.8 (- 20.2) Cut-off price, % of par value 98.38 (+ 0.17) WA price, % of par value 98.38 (+ 0.17) Maximum yield, % APR 6.59 (- 0.70) WA yield, % APR 6.59 (- 0.70) Effective WA yield, % APR 6.75 (- 0.74) The Ministry of Finance (MOF) says no applications were submitted by non- residents. The issuer of MEKAM, unlike the National Bank, does not worry about the cleanup of the market. Therefore, today he used even a relatively low demand in a traditional manner - to lower the yields of his bonds, which went below the yields of the week-long notes.