Report
Alexander Golinsky ...
  • Alexander Sychev
  • Alexey Bulgakov
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrew Keeley
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Kirill Rogachev
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - April 24, 2020

CIS EUROBOND MARKETRussian sovereign Eurobonds continued to advance amid a mostly positive global backdrop yesterday. The top performer was the Russia 43 (+2.3 pp to 129.8%).GOVERNMENT DEBTOFZs rallied again yesterday amid improving global risk appetite. Yields eased 8-9 bps. In the belly, the bid was dominated by nonresidents, while at the long end locals were profit taking ahead of today's CBR policy meeting. Volumes totaled R26 bln.STORIES> Banks to launch program to restructure corporate loans> CBR releases banking sector data for March> Russian Railways considering adjusting investment program> Novatek 1Q20 preview: The pain sets in> Polyus 1Q20 trading update review and earnings preview> PhosAgro 1Q20 trading update, earnings preview> Fitch changes Ukraine's outlook to stable> NBU cuts key rate to 8% amid low inflation, weaker economic activity
Underlyings
NOVATEK JSC

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).

NOVATEK JSC Sponsored GDR RegS

PhosAgro PJSC

PhosAgro is a producer of phosphate-based fertilizers. As of Dec 31 2014, Co. had two segments: Phosphate-based products, which includes mainly production and distribution of ammophos, diammoniumphosphate, sodium tripoly phosphate and other phosphate based and complex (NPK) fertilisers on the factories located in Cherepovets, Balakovo and Volkhov, and production and distribution of apatite concentrate extracted from the apatite-nepheline ore, which is mined and processed in Kirovsk; and Nitrogen-based products,which includes mainly production and distribution of ammonia, ammonium nitrate and urea on the factory located in Cherepovets.

PhosAgro PJSC Sponsored GDR RegS

Polyus (GDR)

Polyus PJSC

PJSC Polyus is an open joint stock company based in Russia. Co. is engaged in operations as a gold production company. Co.'s major assets are: in Krasnoyarsk region, Olympiada deposit as well as Blagodantoe, Titimukhta, Tyrada, Olenii, Razdolinskaya, Zyryanovskaya and Panimba fields; in Irkutsk region, Zapadnoe, Verninskoe, Pervenets, and Chertovo Koryto and Mukodek goldfields as well as some 94 placer deposits; in Magadan region, Natalka deposit and smaller Degdekan and Vostochnoye fields; in the Republic of Sakha (Yakutia), Kuranakh ore body and Kyutchus field as well as 50% interest in the giant Nezhdaninskoye field; and in Amur region, Bamskoe gold field.CJSC Deloitte & Touche CIS

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

Alisa Zakirova

Andrew Keeley

Andrey Gromadin

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Irina Lapshina

Kirill Rogachev

Nikolay Minko

Research Team

Rodion Lomivorotov

Vladimir Lezhnev

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