- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Sergey Kolesnikov, FRM
Debt Markets Today - September 16, 2021. Weekly Inflation, OFZ Auctions Review, Moody's Upgrade Evraz Notes, Gazprom Update, Sibur Plans Local Bond Issuance
CIS EUROBOND MARKETYesterday, Russian dollar-denominated sovereign Eurobonds priced in Tuesday's decline in US Treasury yields. However, by the end of the day profit taking began to emerge. When the dust settled, the issues maturing in 2042 and 2043 had added 0.4 pp in price, while the 2047s had climbed 0.5 pp. GOVERNMENT DEBTOFZ yields climbed 1-4 bps yesterday after it emerged that the Finance Ministry had offered a fairly generous premium for the 20y issue at yesterday's auction. However, the ruble strengthened heading into the close, which helped several issues fully erase their losses. Trading volumes on the Moscow Exchange totaled R19 bln.STORIES> Weekly inflation slows to zero> OFZ Auction Results: Mixed bag as 20y auction disappoints> Moody's lifts rating for Evraz notes from Вa2 to Вa1> Gazprom mid-September update points to further slowdown in exports> Sibur plans issue of local bondsEvraz engages in the production and distribution of steel and related products and coal and iron ore mining. Co. also produces vanadium products. Co. has four segments: Steel, which includes production of steel and related products at all mills except for those in North America, and includes the extraction of vanadium ore and production of vanadium products, iron ore mining and enrichment and certain energy-generating companies; Steel, North America, which includes production of steel and related products in the U.S. and Canada; Coal, which includes coal mining and enrichment; and Other operations, which includes energy-generating companies, shipping and railway transportation companies.
PJSC Gazprom is a gas company based in Russia. Co.'s principal activity is the sale of gas. Co. is also involved in other types of activities which include leasing of assets, gas transportation and storage services, sale of gas condensate and refined products. Co. and its subsidiaries and associates operates gas pipelines systems in Russia. Co. is responsible for substantially all gas production and high pressure gas transportation in the Russian Federation. Co. is also a major exporter of gas to European countries. Co. is directly involved in exploration and drilling for hydrocarbons, production of gas and other hydrocarbons and domestic and export sale of gas and other hydrocarbons.
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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