Report
Alex Fak ...
  • Alexander Kudrin
  • Alexander Golinsky
  • Alexander Sychev
  • Alexey Bulgakov
  • Alisa Zakirova
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Nikolay Minko
  • Rodion Lomivorotov
  • Sergei Konygin
  • Valery Nesterov

Debt Markets Today - February 22, 2018

CIS EUROBOND MARKET
Russian sovereign Eurobond issues were little changed. Turnover was muted.


GOVERNMENT DEBT
Yields declined throughout the session, by as much as 6 bps in short issues up to two years, 3 bps in the 2-5y segment and 4-5 bps on longer paper. Demand mainly came from local investors. The 2s10s spread tightened for the first time in a long while, albeit by just 1 bps, but we expect it to continue to narrow over the near future.

STORIES
> Weekly inflation in Russia remains at 0.1% in week to February 19
> Novatek publishes 2017 IFRS results
> Trans-Oil Group postpones placement of debut Eurobond
> Gazprom getting ready to place Swiss franc-denominated Eurobonds
> Belarus issues 12y Eurobond
Underlyings
NOVATEK JSC

Novatek is an independent gas producer and natural gas producer in Russia. Co. is engaged in the exploration, production, and processing of natural gas and liquid hydrocarbons. Co.'s upstream activities are concentrated in the Yamal-Nenets region, which is a natural gas producing area and accounts for a significant part of Russia's natural gas production. Co.'s three core fields are located in the regions of Yurkharovskoye, East Tarkosalinskoye and Khancheyskoye. Co. maintains natural gas reserves of approximately 1,144 bcm. Co.'s total net proved reserves totals around 8,088 million barrels of oil equivalent (boe).

NOVATEK JSC Sponsored GDR RegS

Provider
Sberbank
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.

Analysts
Alex Fak

Alexander Kudrin

Alexander Golinsky

Alexander Sychev

Alexey Bulgakov

Alisa Zakirova

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Nikolay Minko

Rodion Lomivorotov

Sergei Konygin

Valery Nesterov

Other Reports on these Companies
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