MEOKAM-24 of the Ministry of Finance of Kazakhstan issue #37 - complete offering results

/IRBIS, March 12, 01/ - Today the Ministry of Finance and the National Bank of Kazakhstan held 37th auction for MEOKAM-24 floatation (728 days). Announced issue volume is set by the issuer at KZT300 mln. Size of satisfaction of noncompetitive applications is 50% of specified amount. Following is the complete offering data and comparison with previous similar auction: Type of the securities МЕОКАМ-24 МЕОКАМ-24 NSIN KZ52L1303A31 KZ52L0503A31 KASE trade code MOM024.037 MOM024.036 IRBIS registration number 37/24 36/24 Par value, KZT 1,000.00 1,000.00 Issuance date March 12, 01 March 05, 01 Payment day (till 11:00AM Almaty time) March 15, 01 March 07, 01 Circulation start date March 15, 01 March 07, 01 Maturity date March 13, 03 March 05, 03 Days in circulation 728 728 Coupon payments dates Sep 13, 01 Sep 05, 01 March 14, 02 March 06, 02 Sep 12, 02 Sep 04, 02 March 13, 03 March 05, 03 Planned volume, mln KZT 300.0 ( 0) Number of primary dealers 15 (+ 3) Demand, mln KZT 1,746.0 (+ 331.6) Max. fixed yield on demand, % APR 25.00 ( 0) Actual volume, mln KZT 300.0 ( 0) Fixed yield, % APR 11.99 (- 1.00) According to the Ministry of Finance (MOF) non-residents did not submit any applications for the auction. Demand for MEOKAM grows under influence of large GB redemption on March 11. Notably, money flows from redemption were again reinvested into GB. The forex market did not yet sense repayment of KZT9 bln. The issuer still keeps to tactics of limited borrowing and uses demand for lowering of debt servicing cost.