- Alexander Sychev
- Alexey Bulgakov
- Alexey Kirichok
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Irina Lapshina
- Nikolay Minko
- Rodion Lomivorotov
- Vladimir Lezhnev
Debt Markets Today - February 13, 2020
CIS EUROBOND MARKETTrading was again flaccid in the Russian sovereign Eurobond market yesterday. With US Treasury yields continuing to push higher, long-dated Russian sovereigns lost 0.3-0.4 pp in price, though the rest of the curve saw only slight changes. GOVERNMENT DEBTOFZ yields eased 1-2 bps along the curve yesterday morning amid a pickup in global risk appetite, while after the Finance Ministry auctions the curve steepened. A total of R112 bln was placed. For the 20y OFZ 26230 (March 2039), a premium to the secondary market was offered for the first time this year (of 2 bps); R58 bln was placed in the issue, with bids reaching R70 bln. For the 8y OFZ 26232, there was no premium and R63 bln was placed, versus bids of R106 bln. High demand in the middle of the curve, limited short-dated issuance from the Finance Ministry and modest demand at the long end should ensure further steepening of the curve.STORIES> Russian CPI inflation at 0.1% last week> Budget spending up 53% y-o-y in January; deficit registered> Sberbank deal between CBR and Finance Ministry to boost ruble> NLMK publishes 4Q19 IFRS results> Gazprom to market new dollar Eurobond
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.
Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.
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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