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| Kazakhstan Weekly News Fixed Income Monday, Sep 6 1999 Primary Auctions
Last week the Finance Ministry announced the results of the 3rd
auction of inflation-adjusted Tenge-denominated 3-month T-bills that it held on 27
August. Only two primary dealers participated in the auction, one of whom
bought 100% of the placed volume—KZT 300m at the fixed annual yield of
9.75%.
*** Unlike Tenge-denominated T-bills, US Dollar-denominated 3-month T-bills remained in demand. The 21st auction of these securities was 4 times oversubscribed. Keeping the annual yield flat—8.41%, the Finance Ministry raised USD 11.6m, though its target was only USD 3m. Latest issues of
3-month $-denominated T-bills
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