Report
Alexander Golinsky ...
  • Alexander Sychev
  • Alexey Bulgakov
  • Alexey Kirichok
  • Andrey Kuznetsov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Oksana Mustiatsa
  • Rodion Lomivorotov
  • Svetlana Sukhanova

Debt Markets Today - November 21, 2018

CIS EUROBOND MARKETThe negative external backdrop, primarily stemming from stock and commodity market volatility, caused a selloff on the local Eurobond markets yesterday. Quotes moved lower in the absence of buyers. The Russia 47 dropped 0.6 pp to 90.5% (YTM 5.9%, Z-spread 275 bps) and the Russia 29 fell 0.4 pp to 93.5% (YTM 5.2%, Z-spread 208 bps).GOVERNMENT DEBTOFZ yields gradually climbed 3-8 bps over the course of the session in an adjustment following last week's rally. The ruble's decline in the evening did not significantly increase offers. Nonresidents were clearly buying. Yields rose the most in the 7-10y segment.STORIES> Russian economic growth improves in October> Norilsk Nickel hosts capital markets day> MTS releases 3Q18 IFRS results> Russian Standard bondholders move to seize collateral in local courts> Belarusian economic growth weakens in October> Armenian economic activity index rises 3% y-o-y in October
Underlyings
MMC Norilsk Nickel PJSC

MMC Norilsk Nickel PJSC is a global producer of nickel, palladium, platinum and copper. Co. also produces by-products, such as cobalt, chromium, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur. Co. is involved in prospecting, exploration, extraction, refining and metallurgical processing of minerals, as well as in production, marketing and sale of base and precious metals. Co.'s production facilities are located in five countries: Russia, Australia, Botswana, Finland, and South Africa. Co.'s production units are integrated and include: the Polar Division (the Taimyr Peninsula); and the Kola Mining and Metallurgical Company (Kola MMC or the Kola Peninsula).

Mobile TeleSystems PJSC

Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.

Mobile TeleSystems PJSC Sponsored ADR

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
Alexander Golinsky

Alexander Sychev

Alexey Bulgakov

Alexey Kirichok

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Irina Lapshina

Nikolay Minko

Oksana Mustiatsa

Rodion Lomivorotov

Svetlana Sukhanova

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