- Alexander Sychev
- Alexey Bulgakov
- Anastasia Khakhaeva
- Andrey Gromadin
- Anna Kotelnikova
- Anton Stroutchenevski
- Artem Vinogradov
- Nikolay Minko
- Rodion Lomivorotov
- Svetlana Sukhanova
Debt Markets Today - October 11, 2019
CIS EUROBOND MARKETRising yields on benchmark assets put pressure on long dated Russian sovereign Eurobond prices and dampened buying across the rest of the curve yesterday. The Russia 47 lost 0.4 pp to 118.9% (YTM 4.1%, Z spread 239 bps), while the Russia 29 gave up only 0.2 pp to 107.2% (YTM 3.5%, Z-spread 193 bps). GOVERNMENT DEBTOFZ yields plummeted yesterday after comments by CBR Governor Elvira Nabiullina (see our story below). The curve has started to reflect pricing in of two more rate cuts this year. Meanwhile, risk appetite globally was supported by optimism about the US-China trade talks. An agreement would increase the chances of a cut at the CBR meeting later this month, in our view.STORIES> Nabiullina hints at rate cut in October> Novatek launches East-Urengoiskoye and North-Esetinskoye fields> MTS might sell its Ukrainian operations> Kernel Holding issues 5y Eurobond at 6.625%> Inflation in Ukraine slows to 7.5% y-o-y in SeptemberMobile 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.
Novatek is an independent gas producer and natural gas producer in Russia. Co. is engaged in the exploration, production, and processing of natural gas and liquid hydrocarbons. Co.'s upstream activities are concentrated in the Yamal-Nenets region, which is a natural gas producing area and accounts for a significant part of Russia's natural gas production. Co.'s three core fields are located in the regions of Yurkharovskoye, East Tarkosalinskoye and Khancheyskoye. Co. maintains natural gas reserves of approximately 1,144 bcm. Co.'s total net proved reserves totals around 8,088 million barrels of oil equivalent (boe).
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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