Report
Alexander Sychev ...
  • Alexey Bulgakov
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Gromadin
  • Anna Kotelnikova
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko

Debt Markets Today - October 23, 2019

CIS EUROBOND MARKETRussian sovereign Eurobonds closed slightly higher on the day yesterday against the backdrop of a correction in US Treasury yields. However, trading was sluggish due to a small number of sellers. Volumes were significant only at the short end, where nonresidents were selling. The Russia 47 (+0.2 pp) was the day's biggest gainer.GOVERNMENT DEBTActivity rose in the OFZ market yesterday. Locals were selling mid-dated paper and buying at the short end. The biggest volumes were in the OFZ 26214 (about R20 bln), which will mature in half a year, and in the 5y OFZ 26222 (R12 bln). In addition, nonresidents continued to show demand at the long end. On the day, yields fell 4-6 bps across the entire curve. Trading volumes reached R60 bln. STORIES> CBR preview: 50 bps on Friday and maybe 50 more in December> Polyus: 3Q19 trading update review and earnings preview> Novatek: JV's tankers used by Yamal LNG released from US sanctions> PrivatBank accepts liability to pay holders of written-off senior notes
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

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 Sychev

Alexey Bulgakov

Alexey Kirichok

Alisa Zakirova

Andrey Gromadin

Anna Kotelnikova

Ekaterina Sidorova

Irina Lapshina

Nikolay Minko

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