Debt Markets Today - October 20, 2021. US Treasury Sanction Policy Review, CBR Preview, Lukoil Eurobond Placement
CIS EUROBOND MARKETTrading in the Eurobond market was sluggish yesterday, although a fresh move higher in US Treasury yields going into the close pressured both Russian sovereign and corporate paper. For the day, the Russia 42 lost 0.2 pp and the Russia 47 shed 0.3 pp. In the corporate segment, underperforming the pack was Gazprom paper, which lost 0.4-0.5 pp, while the Lukoil 30, TMK 27 and GeoPro 24 all shed 0.3 pp.GOVERNMENT DEBTThanks to demand from locals, OFZ yields closed 1-4 bps lower yesterday. Sentiment was supported by the Finance Ministry's decision to limit the offering of fixed-coupon paper at today's auction to just R20 bln. Trading volumes were below the daily average over the past month at just R18 bln.STORIES> US Treasury releases sanction policy review; slightly bullish> CBR Preview: Close call, but balance of risks calls for 50 bp hike> Lukoil places two Eurobonds for $2.3 bln total at premium to secondary marketPJSC 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).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.