- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Debt Markets Today - May 26, 2021. NC KMG to Request Consent for Covenant Changes; NLMK Places Debut Euro-Denominated Eurobond
CIS EUROBOND MARKETDespite the sharp decline in UST yields, Russian sovereign Eurobonds continued to trade sideways yesterday. Among dollar-denominated issues, bids predominated, while the euro issues saw offers prevail.GOVERNMENT DEBTOFZs added 1-2 bps in yield yesterday as investors trimmed their positions ahead of today's auctions. A weakening ruble also put some pressure on the market in the second half of the day. OFZs significantly underperformed their EM peers - for instance, most other 10y EM local government bond issues shed 3 10 bps in yield. Trading volumes on the Moscow Exchange totaled just R13 bln, with almost R6 bln attributable to nominal issues shorter than 3y.STORIES> Russian industrial production up 7.2% y-o-y in April> NLMK places EUR500 mln in debut, 5y euro issue at 1.45%> NC KMG to request consent for Eurobond covenant changes
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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