- Alexander Sychev
- Alexey Bulgakov
- Alexey Kirichok
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Irina Lapshina
- Nikolay Minko
- Research Team
- Rodion Lomivorotov
- Vladimir Lezhnev
- Yuri Popov
Debt Markets Today - April 28, 2020
CIS EUROBOND MARKETTrading in the Russian sovereign Eurobond market was relatively quiet yesterday. Flows went in both directions in medium-dated paper, while the long end of the curve saw mostly selling. For the day, the biggest underperformer was the Russia 47, which shed 0.5 pp. GOVERNMENT DEBTThe OFZ market was not particularly active yesterday, and yields edged 2-3 bps higher following the rally at the end of last week. Volumes totaled R20 bln and were mainly focused in the belly. Buying activity was dominated by locals, while selling was dominated by nonresidents.STORIES> Russian economic activity: First signs of pain> Federal Reserve Preview: Ready for another helicopter drop> Finance Ministry preparing to increase OFZ issuance plan> Support for transport sector, GTLK starts to take shape> GTLK Eurobonds still trading at yield premium to peers> Rusal reports neutral 1Q20 trading update> Holders of Alliance Oil 20 approve maturity extension> Lukoil to place benchmark-sized 10y dollar Eurobond> National Bank of Kazakhstan keeps policy rate unchanged at 9.5%> Fitch revises Georgia's ratings outlook to negative
PJSC Lukoil is a vertically-integrated oil company engaged in the exploration and production of crude oil and natural gas. Co. is engaged in all main sectors of the modern oil business including supplies, refining, marketing, transportation, petrochemicals and oil-related activities. Co.'s operations are divided into five business segments: Exploration and Production; Refining, Marketing and Distribution; Chemicals; Power Generation and Other Business Segments. Co. owns and operates refineries in Bulgaria (LUKOIL Neftochim Bourgas AD) and Romania (Petrotel-LUKOIL).
United Company Rusal is a producer of aluminium and alloys. Co.'s production chain include bauxite and nepheline ore mines, alumina refineries, aluminium smelters and casting houses, foil mills and packaging production centres. Co. operates in four reportable segments: Aluminium, which is involved in the production and sale of primary aluminium; Alumina, which involved in the mining and refining of bauxite into alumina and the sale of alumina; Energy, which include the mining and sale of coal and the generation and transmission of electricity; Mining and Metals, which includes the equity investment in Co.'s joint venture, PJSC MMC Norilsk Nickel.
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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