Sberbank - PAO TMK (N9E1) ... Debt Markets Today - January 30, 2018

Report

Sberbank

Alexander Kudrin ...

Alexander Golinsky
Alexander Sychev
Alisa Zakirova
Andrey Kuznetsov
Cole Akeson
Nikolay Minko
Tom Levinson

Debt Markets Today - January 30, 2018

> Market color
> Global markets recap
> CIS Eurobond market
> FX and money markets
> Government debt
> Sanctions: US releases unclassified version of the "oligarch report"
> Federal Reserve preview: Yellen's quiet swan song
> TMK: North American subsidiary IPSCO Tubulars launches IPO
> Moody's upgrades ratings of host of corporates to investment grade

30/01/2018 39 EN

Underlyings

PAO TMK

See profile

US87260R2013 Russia

TMK PAO

PAO TMK is a manufacturer and exporter of steel pipe products in Russia. Co. has production plants in Russia, the United States, Romania and Kazakhstan. Co.'s plants produce a range of existing pipes used in the oil-and-gas sector, the chemical and petrochemical industries, energy and machine-building, construction and municipal housing, shipbuilding, aviation and aerospace, and agriculture. The research centers established in Russia and U.S. are involved in new products design and development, experimental and validation testing and advanced metallurgical research.

See profile

RU000A0B6NK6 Moscow Exchange MICEX-RTS Russia

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.

See profile

Analysts

Alexander Kudrin

Alexander Golinsky

Alexander Sychev

Alisa Zakirova

Andrey Kuznetsov

Cole Akeson

Nikolay Minko

Tom Levinson

Other Reports on these Companies

Independent Investment Research

Monthly LMI Update Independent Investment Research

Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked. This compares to the total dividends of 5 cents per share in FY20. The Board has confirmed that, in...

August 6, 2021 August 6, 2021 10 EN

ING Financial Markets

EM Credit Spark/Trade ideas update

In a week packed with central bank meetings, sentiment has held up well into today's FOMC meeting and press conference. All in all, the JPM EMBIG Diversified spread has come down back to 351bp (from the wides of 371bp on 9 March). This has helped total returns, albeit they remain modestly negative in March (-0.3% MtD as of yesterday). On an individual level, performance has been relatively uniform for EM sovereigns, with the majority tightening in the 12-25bp range.

EUR 85.55

March 17, 2021 March 17, 2021 7 EN

ING Financial Markets

EM Credit Spark/TMK, ChelPipe; Puma Energy, Global Ports

• TMK purchases 86.54% shares of ChelPipe • Puma Energy announced rights issue worth in total up to US$1.1bn • Global Ports Investments: FY20 financial results brief review

EUR 85.55

March 10, 2021 March 10, 2021 5 EN

Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

March 24, 2022 March 24, 2022 1 EN

Andrew Keeley ... (+3)

Andrew Keeley
Arthur Cherkesov
Ekaterina Sidorova

Russian Banks - What We Know at This Stage

In this note, we sum up a few thoughts on the current situation for Russia's banks.> Immediate pressure weathered... Since the initial brief depositor panic in late February, deposit flows have stabilized and even turned into net inflows as banks have hiked short-term deposit rates to around 20%, in line with the key rate.> ... and the CBR has experience of crises. The CBR is well versed in supporting the banking system through crises and has already made important moves in providing liquidity and capital forbearance. The banking sector recapitalization that we saw in 2008-09 and 2014-15 is no...

March 24, 2022 March 24, 2022 1 EN

Alisa Zakirova ... (+10)

Alisa Zakirova
Andrew Keeley
Anton Stroutchenevski
Artem Vinogradov
Arthur Cherkesov
Ekaterina Sidorova
Igor Rapokhin
Olga Sterina
Research Team
Rodion Lomivorotov

Debt Markets Today - March 24, 2022. Ruble Settlement for Gas, Russian Weekly Inflation, Severstal Unable to Pay Coupon on Eurobond

CIS EUROBOND MARKETThe Eurobond market remained inactive yesterday.GOVERNMENT DEBTYesterday saw a correction in the OFZ market, with yields rising 20-40 bps. This was actually a fairly modest move given how volatile things have been recently (yields dropped 250-300 bps on Monday-Tuesday, after the market reopened). Most of the OFZ curve closed in the 13.5-16.0% range. Trading volumes continued to gradually recover, reaching R13.5 bln yesterday on the Moscow Exchange. Still, that is only around half of the average seen over January and the beginning of February.STORIES> "Unfriendly" countries t...

March 24, 2022 March 24, 2022 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Debt Markets Today - January 30, 2018

Monthly LMI Update Independent Investment Research

EM Credit Spark/Trade ideas update

EM Credit Spark/TMK, ChelPipe; Puma Energy, Global Ports

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

Debt Markets Today - March 24, 2022. Ruble Settlement for Gas, Russian Weekly Inflation, Severstal Unable to Pay Coupon on Eurobond

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe