National Bank's notes-273 of #816th issue - floatation results

/IRBIS, June 5, 03/ - Today the National Bank of Kazakhstan (NBK) held the 816th auction for floatation of notes with KZT100 par value and 273-day circulation term what is admitted by the new edition of "The rules of issue, floatation, circulation and redemption of short-term notes of the National Bank of Kazakhstan", which took effect since May 30 of 2003. Size of satisfaction of noncompetitive bids is 50% of specified amount. The auction was conducted with additional floatation, realized during the day. Following are complete data of offering. Notes with such the circulation term are floated first. ---------------------------------------------------- Type of the securities Notes-273 NIN KZW1KW398164 KASE trade code NTK816.273 IRBIS registration number 816/n Par value, KZT 100.00 Time basis actual/365 Offering date (auction) June 5, 03 Settlement date June 5, 03 Circulation start date June 5, 03 Maturity date Mar 4, 04 Days in circulation 273 days Planned volume, KZT m 500.0 Number of participants - Primary agents 11 Demand, KZT m 5,784.5 WA yield on demand, % APR 5.63 Actual volume, KZT m 5,414.9 Cut-off price, KZT 96.06 WA price, KZT 96.06 Maximum yield, % APR 5.48 Weighted average yield, % APR 5.48 Effective WA yield, % APR 5.48 ---------------------------------------------------- Relative to the previous successful notes offering (KZW1KW268151, notes- 182 dated June 4, 03) demand decreased by KZT5,431.8 m (1.9 times), actual volume of satisfied bids - by KZT693.8 m (2.4 times), bonds' yield in effective expression decreased from 5.53% APR to the figure, which is shown in the table. Demand for "new" notes is gradually falling for participants do not have time to restructure their portfolios for these bonds receipt. In the opinion of specialists of IRBIS pension funds are now main purchasers of long notes. It follows from the fact that stake of their participation at KASE's repo market significantly decreased in this week. [2003-06-05]