Debt Markets Today - March 22, 2019
CIS EUROBOND MARKETRussian sovereign Eurobond quotes gapped higher at the opening against the backdrop of rising global risk appetite following the Fed decision. However, pressure emerged later after the Finance Ministry announced it was placing more Eurobonds (see the story below). The Russia 47 closed with the highest growth, having climbed 0.6 pp to 100.0% (YTM 5.3%, Z-spread 256 bps).GOVERNMENT DEBTIn response to the Fed decision, OFZ yields declined by as much as 8-10 bps along the curve in the morning, in tandem with yields in other EM local markets. But they finished the session only 3 4 bps lower at the short end and 7-8 bps lower at the long end. Volumes totaled R19 bln.STORIES> Fed decision to create friendly environment for risk assets> Time to buy the new Russian dollar Eurobonds> Bank of Georgia places $100 mln AT1 perpetual bond at 11.125%
BGEO Group is a holding company. Together with its subsidiary, JSC Bank of Georgia (the Bank) and other subsidiaries, Co. makes up a group of companies that provide banking, insurance, real estate, utility, leasing, beverage production and distribution, brokerage and investment management services to corporate and individual customers. Co. has two operating segments: banking business, which comprises: retail banking and payment services, corporate investment banking and wealth management operations and banking operations in Belarus; and investment business, which comprises Co.'s stakes in Georgia Healthcare Group PLC, Georgia Global Utilities, m2 Real Estate, Aldagi and Teliani Valley.
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