Debt Markets Today - May 24, 2021. We expect NLMK's new euro issue to be placed at 1.25-1.35%
CIS EUROBOND MARKETRussian sovereign Eurobonds remained on a mildly positive trajectory on Friday. Long-term issues continued their advance, the Russia 43 and 47 adding another 0.3 pp apiece. GOVERNMENT DEBTAmid a strengthening ruble, OFZ yields declined on Friday by 1-3 bps in the 6-10y segment, while the rest of the curve was mostly unchanged. Yields of most EM peers also declined 1-3 bps. Meanwhile, trading recovered to the average for the last month (R23 bln), with the heaviest trading seen in the 10y OFZ 52003 inflation linker (R4.1 bln).STORIES> We expect new NLMK euro issue to be placed in 1.25-1.35% range
Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.
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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