National Bank's notes-245 of #864th issue - floatation results

/IRBIS, October 15, 03/ - Today the National Bank of Kazakhstan (NBK) held the 864th auction for floatation of notes with KZT100 par value and 245-day circulation. Size of satisfaction of noncompetitive bids is 50% of specified amount. The auction was conducted with additional floatation, realized during the day. Following is complete data on floatation results. The notes with given time to maturity are floated for the first time. ----------------------------------------------------- Type of the securities Notes-245 NIN KZW1KW358648 KASE trade code NTK864.245 IRBIS registration number 864/n Par value, KZT 100.00 Time basis actual/365 Offering date (auction) Oct 15, 03 Payment date Oct 15, 03 Circulation start date Oct 15, 03 Maturity date Jun 16, 04 Days in circulation 245 Planned volume, KZT m 1,000.00 Number of participants - Primary agents 4 Demand, KZT m 845.1 WA yield on demand, % APR 5.23 Actual volume, KZT m 548.4 Cut-off price, KZT 96.73 WA price, KZT 96.73 Maximum yield, % APR 5.04 Weighted average yield, % APR 5.04 Effective WA yield, % APR 5.04 ----------------------------------------------------- Relative to the previous successful notes offering (KZW1KW528638, notes- 364 dated October 10, 03) demand has decreased by KZT9,587.8 m (12.3 times), actual volume of satisfied bids - by KZT6,670.7 m (13.2 times), bonds' yield in effective expression increased from 5.18% APR to the figure, which shown in the table. The rapid decline of demand is caused by appearance of tenge deficit at market that became feasible on Wednesday afternoon. [2003-10-15]