Report
Alexander Sychev ...
  • Alexey Bulgakov
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Nikolay Minko
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - May 31, 2018

CIS EUROBOND MARKETRising US Treasury yields translated into pressure on Russian sovereign quotes yesterday. The Russia 28 again fared the worst, dropping 0.5 pp to 162.4% (YTM 4.8%, Z-spread 198 bps), while the Russia 47 retreated 0.3 pp to 95.8% (YTM 5.5%, Z-spread 262 bps).GOVERNMENT DEBTThe Finance Ministry successfully placed R15 bln in both the 16y OFZ 26225 (May 2034, 7.25%) and the 4y OFZ 25083 (December 2021, 7.0%) yesterday. The bid/cover ratios were a respective 2.5 and 1.4.STORIES> Russian consumer inflation reaches 0.1% in the week to May 28> Gazprom reports strong 1Q18 results> Alliance Oil Company publishes 1Q18 IFRS results> PhosAgro reports weak 1Q18 earnings> Credit Bank of Moscow posts 1Q18 IFRS results > Credit Bank of Moscow to buy back up to $150 mln of senior Eurobonds> Yudaeva reports R200 bln drop in foreign OFZ holdings since April 6
Underlyings
Gazprom (GDR)

Gazprom PJSC

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.

PhosAgro PJSC 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 Sychev

Alexey Bulgakov

Alisa Zakirova

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Nikolay Minko

Rodion Lomivorotov

Sergei Konygin

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  • Igor Rapokhin
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov

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