Complete results of MEKKAM-12 #71 offering

/IRBIS, Jan 11, 01/ - Today, the Ministry of Finance and the National Bank of Kazakhstan held 71st auction for MEKKAM-12 offering (364 days). Announced volume of the issue is determined at KZT300 mln. Size of satisfaction for noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar auction: Type of the securities MEKKAM-12 MEKKAM-12 NSIN KZ4CL1101A21 KZ4CL2012A19 KASE trade code MKM012.71 MKM012.70 IRBIS registration number 71/12 70/12 Par value, KZT 100.00 100.00 Issuance date Jan.11, 01 Dec.19, 00 Circulation start date Jan.12, 01 Dec.21, 00 Maturity date Jan.11, 02 Dec.20, 01 Days in circulation 364 364 Number of Primary dealers 9 (- 1) Demand, mln KZT 443.4 (- 302.2) WA yield on demand, % APR 13.56 (+ 2.11) Planned volume, mln KZT 300.0 ( 0) Actual volume, mln KZT 164.2 (+ 6.5) Cut-off price, % of par value 91.24 ( 0) WA price, % of par value 91.24 ( 0) Maximum yield, % APR 9.60 ( 0) Weighted average yield, % APR 9.60 ( 0) Effective WA yield, % APR 9.60 ( 0) The Ministry of finance says no applications were submitted by non- residents. This market segments has remained its trend of rare stability. The one thing that is worth to mention is considerable fall in demand explained by slight deficit of free funds. At the same time, IRBIS analysts suppose that main reason for low demand is firm tactics of the Ministry of Finance. This tactics exclude any possibility for raising of excessive amount of funds.