Report
Alexander Golinsky ...
  • Alexey Bulgakov
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Irina Lapshina
  • Rodion Lomivorotov

Debt Markets Today - February 21, 2019

CIS EUROBOND MARKETRussian sovereign Eurobonds continued to make gains yesterday, with the biggest at the long end of the curve, where quotes rose 0.3-0.4 pp. Volumes were again very low. GOVERNMENT DEBTDespite fairly healthy demand at the auctions, the Finance Ministry placed only R9.7 bln in the 7y OFZ 26226 (October 2026, 7.95%) with bids totaling R32 bln and R18.6 bln in the 3y OFZ 26209 (July 2022, 7.60%) with bids reaching R42.6 bln. It did not provide any premiums to the secondary market. However, for the OFZ 52002 linker, a 5 bp premium was offered and R4.5 bln out of R5.2 bln on offer was placed.STORIES> Russian daily inflation continues slowing> Nonresidents' share of Russian sovereign Eurobond market falls in 4Q> Novatek releases 2018 IFRS results> Severstal considering selling its mini-mill in Balakovo
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

Severstal (GDR)

Severstal PAO

PAO Severstal is an integrated Iron & Steel works company with a range of products: hot and cold rolled steel, roll-formed shapes and pipes, rolled sections, a large group of coke products and by-products. Co. also has various social responsibilities such as the operation and maintenance of sports complexes, holiday and recreational facilities and public housing. Co.'s operations are organized along three principal divisions: Severstal Russian Steel engaged in crude steel production; Severstal Resources engaged in the production of iron ore concentrate, pellets and coking coal; and Severstal International engaged in the production of high-quality flat-rolled products.

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

Alexey Bulgakov

Alexey Kirichok

Alisa Zakirova

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Irina Lapshina

Rodion Lomivorotov

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