MEKKAM-6 of the Ministry of Finance #175 issue - offering results

/IRBIS, April 28, 04/ - Today the Ministry of Finance (MOF) and the National Bank of Kazakhstan (NBK) held the 175th auction for MEKKAM-6 offering (182 days). Size of satisfaction for noncompetitive applications is 30% of specified amount. Following are complete offering results, issue parameters and comparison with previous comparable issue. --------------------------------------------------------- Type of the securities MEKKAM-6 МЕККАМ-6 NSIN KZK1KM061758 KZK1KM061741 KASE trade code MКM006_175 MKM006.174 IRBIS registration number 175/6 174/6 Par value, KZT 100.00 100.00 Issuance date (auction) Apr 28, 04 Oct 1, 03 Payment date Apr 29, 04 Oct 2, 03 Circulation start date Apr 30, 04 Oct 3, 03 Maturity date Oct 28, 04 Apr 1, 04 Days in circulation 182 182 Planned volume, mln KZT 3,500.0 (-500.0) Number of Primary dealers 11 (-1.00) Demand, mln KZT 5,272.0 (-8,123.8) WA yield on demand, % APR 5.12 (-8.66) Actual volume, mln KZT 1,452.5 (-3,873.7) Cut-off price, % of par value 97.62 (+0.48) WA price, % of par value 97.62 (+0.44) Maximum yield, % APR 4.89 (-1.01) Weighted average yield, % APR 4.89 (-0.93) Effective WA yield, % APR 4.95 (-0.95) --------------------------------------------------------- According to the National Bank's information, no bids were received from non-residents. Relative to previous successful floatation of discount bonds of the Ministry of finance (KZK1KY010802, МЕККАМ-12 #80 dated April 12, 04) demand fell by KZT330.4 m. (1.1 times), actual volume of offering - by KZT1,484.5 m. (2.0 times), and effective yield of bonds decreased from 5.11% APR to the figure shown in the table. [2004-04-28]