MEOKAM-24 of Ministry of Finance of Kazakhstan of the 66th issue - results of offering

/IRBIS, July 14, 03/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan held the 65th auction for MEOKAM-24 offering (730 days). Size of satisfaction for noncompetitive applications is 30% of specified amount. Following is the issue structure, results of bonds offering and comparison with previous comparable issue: ---------------------------------------------------------------------------------------- Type of the securities МЕОКАМ-24 МЕОКАМ-24 NIN KZK2KY020669 KZK2KY020651 KASE trade code MOM024.066 MOM024.065 IRBIS registration number 66/24 65/24 Par value, KZT 1,000.00 1,000.00 Settlement basis Actual/365 actual/365 Offering date (auction) July 14, 03 July 2, 03 Payment date July 15, 03 July 3, 03 Circulation start date July 16, 03 July 4, 03 Maturity date (planned / actual) July 14,05/July 14,05 July 2,05/July 4,05 Days in circulation 730 days 730 days Coupon payments dates (planned / actual) 1 Jan 13,04/Jan 13,04 Jan 01,04/Jan 01,04 2 July 14,04/July 14,04 July 02,04/July 02,04 3 Jan 12,05/Jan12,05 Dec 31,04/Dec 31,04 4 July 14,05/July 14,05 July 02,05/July 04,05 Planned volume. KZT m 2,300.0 (+ 300.0) Number of participants - Primary dealers 10 (- 5) Demand. KZT m 14,307.0 (- 3,951.0) Maximum yield on demand, % APR 6.75 (- 0.25) Actual volume, KZT m 2,300.0 (+ 300.0) Fixed rate, % APR 5.98 (- 0.02) ---------------------------------------------------------------------------------------- According to information of the Ministry of finance, there were no applications to the auction submitted by non-residents. Relative to previous successful floatation of МЕОКАМ dated July 9 of 2003 (МЕОКАМ-58 #36, KZK2KY030585, interest rate 6.50% APR) demand grew by KZT4,104.1 m (1.4 times), actual floatation volume has almost remained the same. Nothing new occurred in the sector. Ministry of finance still prefer to borrow only the planned volume and uses demand for decreasing yield of its bonds. [2003-07-14]