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Glossary

Short term Treasury bills of Kazakhstan (MEKKAM)

Category — CIS Bond Market
Short-term treasury bills MEKKAM (in the Kazakh language, Мемлекеттік қысқа мерзімді қазынашылық міндеттеме) are treasury bills of the Republic of Kazakhstan with maturities of 3, 6, 9, and 12 months.

The short-term treasury bills are placed at a discounted price and redeemed at the nominal value of KZT 100.

The remuneration is calculated based on the actual number of days in the maturity period of short-term treasury bills MEKKAM.

Note: All operations with MEKKAM short-term treasury bills are carried out by the investor via a depositor of the central securities depository.

The first issue of 3M MEKKAM bills was placed on May 29, 2007. The issue volume was KZT 20 billion with a 91-day maturity period. The redemption took place on August 29, 2007. In total, four issues of 3M MEKKAM bills were placed. The last securities of this type were issued on January 17, 2008, with the volume of KZT 15.7 billion.

The same happened with 6M and 9M short-term MEKKAM bills with a total number of 9 and 10 issues, respectively. The last issue of 6M MEKKAM bills was placed on August 5, 2010, with the total volume of KZT 13 billion and the initial offering price of 99.2563% (1.49%). The last issue of 9M MEKKAM bills was placed on November 7, 2012, with the total volume of KZT 13 billion and the initial offering price of 98.1712% (2.49%).

Subsequently, the Ministry of Finance of the Republic of Kazakhstan issued only 12M short-term treasury bills MEKKAM.
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