- Andrey Gromadin
- Ekaterina Sidorova
- Igor Rapokhin
- Research Team
- Sergey Kolesnikov, FRM
Debt Markets Today - August 20, 2021. MTS, Gazprom Neft, Global Ports Results; Socar Turkey Raises Syndicated Loan
CIS EUROBOND MARKETInvestors in the CIS Eurobond market took a wait and see approach yesterday as risk-off sentiment took hold in global markets. Most issues traded sideways, though the Russia 47 and Belarus 23 both managed a 0.2 pp gain.GOVERNMENT DEBTThe risk-off move in global markets yesterday saw a sharp drop in oil prices and a weakening of the ruble, which drove a 4-9 bp rise in OFZ yields across the curve. We continued to observe flows from the "old" OFZs into the "new" ones. Indeed, the "new" 10y OFZ 26239 (July 2031) - following the high placement at the auctions on Wednesday (there is R212 bln outstanding) - has become one of the most liquid issues in the long-dated segment. Meanwhile, long-term issues continue to face pressure from selling by local market participants. Turnover yesterday was again close to average at R36 bln.STORIES> MTS reports 2Q21 results> Gazprom Neft 2Q21 IFRS: Beat on FCF due to working capital release> Global Ports publishes 1H21 results> Socar Turkey obtains $1.3 bln syndicated loan
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).
Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.
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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