Report
Alisa Zakirova ...
  • Ekaterina Sidorova
  • Igor Rapokhin
  • Olga Sterina
  • Research Team

Debt Markets Today - August 13, 2021. Polyus Releases 2Q21 Operating Update

CIS EUROBOND MARKETAgainst the backdrop of stabilizing benchmark dollar rates, quotes on CIS sovereign Eurobonds moved only slightly, while trading volumes were minimal. In the Russian corporate segment, bids continued to predominate in Alrosa issues, though price changes were not pronounced. Meanwhile, both foreign and local investors were active in the middle part of the Gazprom curve and flows were balanced. At the long end, however, selling by local market participants led to a 0.2 pp drop in the quotes on the Gazprom 34 and Gazprom 37.GOVERNMENT DEBTYesterday, OFZ yields came down 1-2 bps, as we had expected, thanks in part to Wednesday's strong auction results and a stable external backdrop. Trading activity was not all that high. A considerable share of the transactions yesterday involved the two issues that were auctioned off on Wednesday, the 8y OFZ 26237 (March 2029) and 15y OFZ 26240 (July 2036), which both registered R4.5 bln in trading volume.STORIES> Polyus releases 2Q21 operating update
Underlyings
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
Alisa Zakirova

Ekaterina Sidorova

Igor Rapokhin

Olga Sterina

Research Team

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