Report
Alexander Kudrin ...
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Nikolay Minko
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - March 13, 2018

CIS EUROBOND MARKET
Demand emerged in Russia’s sovereign Eurobond market yesterday as local investors returned from a long holiday. Leading the way was the Russia 47, which climbed 0.3 pp to close at 101.4% (YTM 5.2%, Z-spread 217 bps). The Russia 27 added 0.2 pp to finish the day at 99.8% (YTM 4.3%, Z-spread 138 bps).

GOVERNMENT DEBT
Yields on short-dated OFZs rose yesterday, while those in the belly of the curve retreated. Long-dated paper closed the day mostly unchanged. Trading activity has remained low, while volumes have remained below average.


STORIES
> HCFB reports 2017 IFRS numbers, call option approaching on 2020 subs
> Kazakh National Bank updates its inflation forecast
Underlyings
Rosneft Oil Co.

OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.

Rosneft Oil Co. 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
Alexander Kudrin

Alisa Zakirova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Nikolay Minko

Rodion Lomivorotov

Sergei Konygin

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