- Andrey Gromadin
- Anton Stroutchenevski
- Artem Vinogradov
- Dmitry Troshin
- Ekaterina Sidorova
- Georgiy Ivanin
- Igor Rapokhin
- Konstantin Samarin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
- Sergey Kolesnikov, FRM
Debt Markets Today - March 2, 2022. Supply Shock Affecting Prices, Oil Majors Reducing Russia Operations, Polyus and RusHydro Results
CIS EUROBOND MARKETRussian sovereign Eurobond quotes continued to fall yesterday, sliding another 12-30 pp to 27-35% of par. The market is still illiquid due to the significant uncertainty related to sanctions. Meanwhile, Ukrainian sovereign Eurobond quotes are in the 32-35% price range.GOVERNMENT DEBTAs was the case on Monday, there was no trading in local government bonds yesterday. Meanwhile, Euroclear and Clearstream announced that their accounts with the National Settlement Depository of Russia were frozen, which implies a moratorium on all payments to international holders of OFZs. Also, according to Interfax, the government could consider allowing allocation of the National Welfare Fund to OFZs.STORIES> Supply shock has started affecting prices> More oil majors voice intentions to reduce Russian operations> Polyus publishes 4Q21 and 2021 financial results> RusHydro's 2021 IFRS results and dividend plans above expectations> Kazakh inflation edges up to 8.7% y-o-y in February but is set to accelerate furtherPJSC RusHydro is a hydro-generating company based in Russia. Co. is engaged in the generation and sale of electricity and capacity on the Russian wholesale and retail markets, as well as generation and sale of heat energy. The main activity of Co. is production of power from renewable energy sources, developing power generation using water flows, tidal, wind and geothermal energy. It has an installed electricity generation capacity of 38.5 GW; and heat capacity of 16.2 GCal/h.
PJSC Polyus is an open joint stock company based in Russia. Co. is engaged in operations as a gold production company. Co.'s major assets are: in Krasnoyarsk region, Olympiada deposit as well as Blagodantoe, Titimukhta, Tyrada, Olenii, Razdolinskaya, Zyryanovskaya and Panimba fields; in Irkutsk region, Zapadnoe, Verninskoe, Pervenets, and Chertovo Koryto and Mukodek goldfields as well as some 94 placer deposits; in Magadan region, Natalka deposit and smaller Degdekan and Vostochnoye fields; in the Republic of Sakha (Yakutia), Kuranakh ore body and Kyutchus field as well as 50% interest in the giant Nezhdaninskoye field; and in Amur region, Bamskoe gold field.CJSC Deloitte & Touche CIS
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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