Sberbank - Aygaz A.S. (AYGAZ) Turkey Morning Call - September 20, 2017

Report

Sberbank

Sinan Goksen

Turkey Morning Call - September 20, 2017

> Market comment
> Treasury holds two bond auctions yesterday
> Vakif Bank issues TRY525 mln of lira-denominated subordinated debt
> New chairman appointed at Garanti Bank
> Isbank more than fully rolls over maturing syndicated loan facility
> Entek Elektrik of Koc Holding and Aygaz offers highest bid in HPP tender

20/09/2017 8 EN

Underlying

Aygaz A.S.

Aygaz is a liquefied petroleum gas (LPG) distribution company operating in a range of environments from cylinder production to marine transport operations. In its core business field, Co. distributes LPG as autogas, cylinder gas, and bulk gas, manufactures and sells LPG cylinders, tanks, valves and regulators, and also markets LPG-operated devices. Co. also sells and produces LPG devices and engaged in the maritime shipping of LPG. In the cylinder gas segment, Co. operates all over Turkey in points of sale under the brands of Aygaz, Mogaz and Lipetgaz. Co. has three segments: gas and petroleum products, electricity and other operations.

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TRAAYGAZ91E0 Istanbul Stock Exchange Turkey

Provider

Sberbank

Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

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Analysts

Sinan Goksen

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Turkey Morning Call - September 20, 2017

Aygaz

Coverage discontinued (AEFES TI, AYGAZ TI, ENJSA TI, EREGL TI, TKFEN TI, VESBE TI)

Aygaz

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

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