Report
Alex Fak ...
  • Alexander Kudrin
  • Alexander Sychev
  • Alexey Bulgakov
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Rodion Lomivorotov
  • Sergei Konygin
  • Tom Levinson

Debt Markets Today - March 22, 2018

CIS EUROBOND MARKET
The Russian sovereign Eurobond market had a humdrum day. The Russia 27 fared the best, rising 0.2 pp to 99.2% (YTM 4.4%, Z-spread 143 bps). Other issues saw negligible changes.

GOVERNMENT DEBT
In the OFZ market, some players showed buying interest, evidently counting on a steeper rate cut than the market expects.


STORIES
> February data shows some slowdown but improvement likely ahead
> Russian inflation remains at 0.1% over the week ending March 19
> Federal Reserve Review: 25 bp hike, cautious confidence
> Lukoil publishes 2017 and 4Q17 IFRS results
> PhosAgro 4Q17 IFRS results: Capex, WC buildup squeeze cash flows
> Russian Agricultural Bank posts R19.5bln loss for 2017
> MMK prepares new Eurobond placement
> Georgian GDP expands 5% in 2017
Underlyings
Magnitogorsk Iron & Steel Works (GDR)

Magnitogorsk Iron & Steel Works PJSC

Magnitogorskiy Metallurgicheskiy Kombinat PAO, formerly Magnitogorskiy metallurgicheskiy kombinat OAO, is a Russia-based company, active in the steel industry. Its main products are sinter, coke, iron, crude steel, rolled products and ore materials. The Company offers a wide range of products such as wire rod, rebars, square bars, strips, round bars, among others. It is also involved in the coal ore mining, processing of ore materials, sale of ferrous metal products and others. Magnitogorskiy metallurgicheskiy kombinat OAO operates as a supplier for such industries as: pipelines, vehicles, railway, construction and shipbuilding, among others. Its subsidiaries include Lys'venskaya Metallurgicheskaya Kompaniya OOO, among others. The Company operates domestically, as well as exports its products to the Commonwealth of Independent States (CIS) countries, Asia, the Middle East and Europe.

Oil company LUKOIL PJSC

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).

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
Alex Fak

Alexander Kudrin

Alexander Sychev

Alexey Bulgakov

Alisa Zakirova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Irina Lapshina

Rodion Lomivorotov

Sergei Konygin

Tom Levinson

Other Reports on these Companies
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