National Bank's notes-329 of #866th issue - floatation results

/IRBIS, October 23, 03/ - Today the National Bank of Kazakhstan (NBK) held the 866th auction for floatation of notes with KZT100 par value and 329-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. Notes with such circulation terms are issued for the first time. ---------------------------------------------------- Type of the securities Notes-329 NIN KZW1KW478669 KASE trade code NTK866.329 IRBIS registration number 866/n Par value, KZT 100.00 Time basis actual/365 Offering date (auction) Oct 23, 03 Payment date Oct 23, 03 Circulation start date Oct 23, 03 Maturity date Sep 16, 04 Days in circulation 329 Planned volume, KZT m 1,000.00 Number of participants - Primary agents 11 Demand, KZT m 2,920.7 WA yield on demand, % APR 5.41 Actual volume, KZT m 2,220.1 Cut-off price, KZT 95.56 WA price, KZT 95.56 Maximum yield, % APR 5.15 Weighted average yield, % APR 5.15 Effective WA yield, % APR 5.15 ---------------------------------------------------- Relative to previous successful floatation of notes (KZW1KW358655, notes- 245 dated October 17, 03) the demand increased by KZT1,064.2 m (1,6 times), actual volume of satisfied bids -by KZT550.8 m (1.3 times), effective yield - from 5.04%APR to the value shown in the table. The National Bank's new issuance of notes is most likely caused by stabilization of banks positions with short-term liquidity and simultaneous rise of speculative component in behavior of their traders at foreign exchange market. [2003-10-23]