National Bank notes-91 of #657 issue - floatation results

/IRBIS, April 11, 02/ - Today the National Bank of Kazakhstan (NBK) held the 657th auction for floatation of notes with KZT100 par value and 91 day circulation term. Size of satisfaction of noncompetitive applications is 50% of specified amount. Auction was conducted with extra floatation, realized during the day. Following are issue parameters and auction results. ------------------------------------------- Type of the securities Notes-91 NSIN KZW1KD916578 KASE trade code NTK657.091 IRBIS registration number 657/N Par value, KZT 100.00 Offering date (auction) April 11, 02 Settlement date April 12, 02 Circulation start date April 12, 02 Maturity date July 12, 02 Days in circulation 91 Planned volume, KZT m 500.0 Number of Primary agents 12 Demand, KZT m 1,587.6 WA yield on demand, % APR 7.37 Actual volume, KZT m 524.1 Cut-off price, KZT 98.54 WA price, KZT 98.54 Maximum yield, % APR 5.93 Weighted average yield, % APR 5.93 Effective WA yield, % APR 6.06 ------------------------------------------- The National bank issues notes with such a long circulation term for the first time. Up to this moment "the longest" notes were 84-day bonds. Relative to previous successful floatation of notes (KZW1KD846569, notes- 84 dated Apr 09, 02) demand increased by KZT564.9m (by 55.2%), actual volume of satisfied bids fell by KZT192.1m (by 26.8%), yield in effective terms fell from 6.10% APR to the value shown in the table. [2002-04-09]