National Bank notes-42 of #611 issue - floatation results

/IRBIS, Dec 27, 01/ - Today the National Bank of Kazakhstan (NBK) held the 611st auction for floatation of notes with KZT100 par value and 42 days circulation term. Size of satisfaction of incompetitive applications is 60% of specified amount. 610th auction of notes-42 will be conducted tomorrow since the National Bank has changed the order of securities floatation current week and national identification numbers were reserved earlier. Auction was conducted with additional issue, realized during the day. The following is complete results of issue and comparison with previous comparable issue. ----------------------------- ------------ ------------ Type of the securities Notes-42 Notes-42 NSIN KZW1KD426115 KZW1KD425885 KASE trade code NTK611.042 NTK588.042 IRBIS registration number 611/N 588/N Par value, KZT 100.00 100.00 Offering date (auction) Dec 27, 01 Nov 01, 01 Settlement date Dec 28, 01 Nov 02, 01 Circulation start date Dec 29, 01 Nov 03, 01 Maturity date Feb 08, 01 Dec 14, 01 Days in circulation 42 42 Planned volume, KZT m 500.0 ( 0) Number of Primary agents 7 (- 4) Demand, KZT m 588.1 (- 822.6) WA yield on demand, % APR 12.39 (+ 6.63) Actual volume, KZT m 433.8 (- 439.7) Cut-off price, % of par value 99.38 (- 0.02) WA price, % of par value 99.38 (- 0.02) Maximum yield, % APR 5.41 (+ 0.18) Weighted average yield, % APR 5.41 (+ 0.18) Effective WA yield, % APR 5.54 (+ 0.18) ------------------------------ ------------- ------------ Relative to previous issue of notes (KZW1KD426115, notes-42 from Dec 26,01) demand increased by 20.8m tenge (3.7%), actual volume of satisfied bids - by 133.8m tenge (44.6%), yield of bonds in effective value decreased from 5.67% APR to value shown in the table. Nothing remarkable happens in the sector. Trials of the National bank to sterilize correspondent accounts of banks do not look active (at least, at notes market), although volume of floatation in a week is gradually increasing as well as bonds yield. The latter changes synchronically to currents rates of money market, however, remains lower. All published today by the National Bank rates of attraction and floatation of tenge are significantly higher than yield of notes fixed at the auction. Therefore, bonds of the central bank have very moderate demand.