Debt Markets Today - October 24, 2018
CIS EUROBOND MARKETRussian sovereign quotes headed south in the wake of diminished global risk appetite yesterday. The Russia 47 fared the worst, sliding 0.4 pp to 92.7% (YTM 5.8%, Z-spread 254 bps). Activity was again very weak.GOVERNMENT DEBTMonday's positive momentum carried over into yesterday morning, with yields declining 7-10 bps in the middle of the curve and 1-2 bps at the long end. However, a reversal took place in the evening, sparked by a similar U-turn on the FX market, and yields began to climb, eventually finishing 2-4 bps higher on the day among issues maturing in four years or more. Volumes reached R23 bln.STORIES> Severstal to increase capex in 2019-20> NLMK 3Q18 IFRS preview> Naftogaz Ukrainy planning to return to Eurobond market
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.
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.
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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