Report
Alisa Zakirova ...
  • Andrew Keeley
  • Andrey Kuznetsov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - August 15, 2018

CIS EUROBOND MARKETOptimism prevailed in the Russian sovereign Eurobond market yesterday thanks to a recovery in risk appetite globally following the stabilization of the lira. Long-dated issues led the way with gains of 1.0-1.4 pp. Outperforming the market was the Russia 47, which climbed 1.4 pp to 95.1% (YTM 5.6%, Z-spread 261 bps). The weakest performance came from the issues maturing in 2023, which added no more than 0.3 pp for the day. GOVERNMENT DEBTEarly in the day, yields dropped by an average of 9 bps across the curve amid an overall positive global backdrop. Later on, offers began to dominate in issues maturing in 5y and earlier - yields on these papers rose 2-5 bps. Yields on long paper, however, ended up dropping up to 7 bps. Trading volumes came in at around R17 bln. STORIES> Gazprom Neft: 2Q18 IFRS results preview> VTB agrees to buy Vozrozhdenie Bank> Armenian central bank leaves key policy rate unchanged at 6%
Underlyings
Gazprom Neft (GDR)

Gazprom Neft PJSC

Gazprom Neft PJSC is vertically integrated oil company operating in the Russian Federation, CIS and internationally. Co.'s principal activities include exploration, production and development of crude oil and gas, production of refined petroleum products and distribution and market ing operations through its retail outlets. Co.'s Upstream segment includes the exploration, development and production of crude oil and natural gas (including joint ventures results), oil field services. Co.'s Downstream segment processes crude into refined products and purchases and sells and transports crude and refined petroleum products (refining and marketing).

VTB Bank (GDR)

VTB Bank PJSC

Bank VTB PAO is a Russia-based bank engaged in the provision of financial services. The Bank reports five segments: Corporate-Investment banking includes operations with corporate customers that are large business customers and banking financial institutions, as well as operations on the securities market; Mid-Corporate banking covers operations with medium business corporate customers; Retail business includes operations with individuals and small business corporate customers, and offers operations on Internet and mobile Point-of-Sale acquiring, plastic cards, payroll services and financial consulting, among others; Treasury comprises operations to manage liquidity, operations on financial and interbank markets, cash flow management and debit financing operation; as well as Other business includes two business: Construction and development involves operations undertaken by Company in the construction and development industry, and Other activities represent non-banking business.

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
Alisa Zakirova

Andrew Keeley

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Rodion Lomivorotov

Sergei Konygin

Other Reports on these Companies
Other Reports from Sberbank

ResearchPool Subscriptions

Get the most out of your insights

Get in touch