- Andrey Gromadin
- Ekaterina Sidorova
- Georgiy Ivanin
- Igor Rapokhin
- Olga Sterina
- Research Team
Debt Markets Today - October 8, 2021. Lukoil Acquires 15.5% in Shah Deniz; Takeaways from Sovcomflot CMD
CIS EUROBOND MARKETThe Russian sovereign debt market ended yesterday with gains after the selloff that had played out earlier in the week, though volumes were subdued. Quotes on the long-dated issues rose 0.4-0.5 pp, while intermediate papers added 0.2-0.4 pp.GOVERNMENT DEBTYields on medium- and long-dated OFZs plunged 10-14 bps yesterday amid a heavy bid from locals and foreigners alike. The main driver of yesterday's move was the sharp recovery across EM local debt markets Wednesday evening. And that recovery only continued last night, with 10y local government bonds from Latin America and South Africa shedding another 2-6 bps in yield.STORIES> Correction in ruble rates looks overdone fundamentally> Lukoil acquires 15.5% in Shah Deniz at attractive price> Key takeaways from Sovcomflot's capital markets dayPJSC 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.
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