National Bank notes-70 of #705 issue - floatation results

/IRBIS, September 04, 02/ - Today the National Bank of Kazakhstan (NBK) held the 705th auction for floatation of notes with KZT100 par value and 70 day circulation term. Size of satisfaction of noncompetitive applications is 50% of specified amount. The auction was conducted with additional floatation, realized during the day. Following are complete offering data and comparison with previous similar issue. ------------------------------------------------------------ Type of the securities Notes-70 Notes-70 NSIN KZW1KD707050 KZW1KD706813 KASE trade code NTK705.070 NTK681.070 IRBIS registration number 705/N 681/N Par value, KZT 100.00 100.00 Offering date (auction) September 04,02 June 18,02 Settlement date September 04,02 June 18,02 Circulation start date September 04,02 June 18,02 Maturity date November 13, 02 August 27,02 Days in circulation 70 days 70 days Planned volume, KZT m 500.0 ( 0) Number of Primary agents 11 ( 0) Demand, KZT m 2,439.3 (+ 1,292.4) WA yield on demand, % APR 5.94 ( 0) Actual volume, KZT m 2,035.7 (+ 1,573.1) Cut-off price, % of par value 98.92 ( 0) WA price, % of par value 98.92 ( 0) Maximum yield, % APR 5.68 ( 0) Weighted average yield, % APR 5.68 ( 0) Effective WA yield, % APR 5.81 ( 0) ------------------------------------------------------------ Relative to the previous successful offering of notes (KZW1KD917048, notes-91 of August 29, 2002) demand increased by KZT222.7m (10.1%), actual volume of satisfied bids declined by KZT72.5m (3.4%), bonds yield in effective expression went down from 5.97% APR to the figure mentioned in the table above. [2002-09-04]