First deals over ten year MEAKAM held on KASE

/IRBIS, Apr 28, 01 / - Today at Kazakhstan Stock Exchange (KASE), first deals were made over ten year MEAKAM (KZ6AK3112A74, trade code - MOM120.001, face value - KZT1000, Jan.05, 1998-Dec.31, 2007, semiannual coupon - 9.75%). Traders concluded 4 deals for a total of KZT1.8 bln (2,080,000 bonds). Yield to maturity for a buyer equaled 13.14% at 2,438 circulation term. These are first deals at KASE over domestic bonds with 10-year maturity that have been concluded using counter auction mode. The Ministry of Finance issued bonds on Jan.05, 1998 with a view to restructure government debt to National Bank accumulated during 1991- 1997 (total amount KZT36,850.8 mln). Later, 2,409,249 bonds were transferred by NBK to "State Accumulative Pension Fund" CJSC (SAPF, Almaty) that, in April 1999, were restructured into AVMEKAM. The rest part was held by NBK and used only for repo operations. IRBIS informs that deals were made using uninterrupted counter auction mode rather than "hidden repo" operation. It means that all bids submitted into trade system could be satisfied by any of auction's participant.