National Bank notes-21 of #489 issue - floatation results

/IRBIS, Jan 19, 01/ - Today the National Bank of Kazakhstan (NBK) held the 489th auction for floatation of notes with KZT100 par value and 21 day circulation term. Announced volume of the issue is set by the issuer at KZT1,000 mln. Size of satisfaction of non-competitive applications is 60% of specified amount. Auction was held with additional offering conducted during the day. The last time notes-21 were floating on Jan 20, 2000. No comparisons are given. Type of the securities Notes-21 NSIN KZ8LK0902A12 KASE trade code NTK489.021 IRBIS registration number 489/N Par value, KZT 100.00 Issuance date Jan 19, 2001 Circulation start date Jan 19, 2001 Maturity date Feb 09, 2001 Days in circulation 21 Number of Primary agents 8 Demand, mln KZT 228.4 WA yield on demand, % APR 7.49 Planned volume, mln KZT 1,000.0 Actual volume, mln KZT 212.6 Cut-off price, % of par value 99.59 WA price, % of par value 99.59 Maximum yield, % APR 7.14 Weighted average yield, % APR 7.14 Effective WA yield, % APR 7.39 Large volume of money that came from redemption of notes on Jan 18, and redemption of MEKKAM-3 (KZT210.6 mln) did appear in non of the financial market sectors. All redemption volume was used by banks to restore liquidity, whose Friday level could be considered as a normal. Besides expectations of IRBIS experts, National Bank failed today to receive substantial demand for notes. The market is not in need for sterilization.