National Bank's notes-273 of 921st issue - floatation results

/IRBIS, Sergey Yakovlev, May 20, 04/ - Today the National Bank of Kazakhstan (NBK) held the 921st auction for floatation of notes. The auction was conducted with additional floatation, realized during the day. Following is complete results of floatation and comparison with previous relevant issue. Auction as of May 19, 04 was recognized as failed due to unacceptable low prices stated by dealers and investors. ----------------------------------------------------------------- Type of the securities Notes-273 Notes-273 NIN KZW1KW399212 KZW1KW399188 KASE trade code NTK273_0921 NTK273_0918 IRBIS registration number 921/n 918/n Par value, KZT 100.00 100.00 Time basis actual/365 actual/365 Offering date (auction) May 20, 04 May 7, 04 Payment date May 20, 04 May 7, 04 Circulation start date May 20, 04 May 7, 04 Maturity date Feb 17, 05 Feb 4, 05 Days in circulation 273 273 Planned volume, KZT m 1,000.0 (0) Limits on uncompetitive, % 50 (0) Number of participants - Primary agents 8 (-8) Demand, KZT m 2,122.9 (-12,739.6) WA yield on demand, % APR 4.99 (-0.02) Actual volume, KZT m 1,022.2 (-11,505.1) Cut-off price, KZT 96.43 (+0.02) WA price, KZT 96.43 (+0.02) Maximum yield, % APR 4.95 (-0.03) Weighted average yield, % APR 4.95 (-0.03) Effective WA yield, % APR 4.95 (-0.03) ----------------------------------------------------------------- Relative to previous successful floatation of notes (KZW1KW529198, notes- 364 on May 14, 04, 919th - issue) demand fell by KZT8,739.0 m (5.1 times), actual volume of satisfied bids - by KZT7,648.5 m (8.5 times), effective yield of notes rose from 5.00%APR to the value indicated in the table. [2004-05-20]