Report
Alexander Sychev ...
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - October 25, 2018

CIS EUROBOND MARKETRussian sovereign quotes moved higher, led by the Russia 29, which advanced 0.6 pp to 95.0% (YTM 5.0%, Z spread 179 bps). Volumes remained low.GOVERNMENT DEBTThe Finance Ministry yesterday fully placed R10 bln in the 5y OFZ 26223 (February 2024, 6.5%) at a weighted average yield of 8.47% with no premium to the secondary market. Meanwhile, it placed only R4.2 bln out of the R10 bln on offer in the 16y OFZ 26225 (May 2034, 7.25%) at 8.68%, with a 2-3 bp premium to the secondary market. STORIES> Weekly inflation remains at 0.1%, as expected> Novatek reports 3Q18 IFRS results> Fitch raises outlook on Tinkoff Bank's BB- rating to positive> Ukrainian industrial output drops 1.3% y-o-y in September
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

TCS Group Holding Plc Sponsored GDR Class A RegS

TCS Group Holding is a retail banking services group based in the Russian Federation. Co. is principally engaged in providing retail banking services in the Russian Federation through its subsidiaries, primarily Tinkoff Credit Systems. Co., through this subsidiary, fully licensed by the Central Bank of Russia and a member of the Deposit Insurance System, specializes in credit cards. Co. provides online retail financial services through a branchless operating platform. Co. also offers remote access to its financial products and services through its online banking as well as through mobile banking and high-volume call centers.

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

Alisa Zakirova

Andrey Kuznetsov

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Rodion Lomivorotov

Sergei Konygin

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