Report
Alex Fak ...
  • Alexander Kudrin
  • Alexey Bulgakov
  • Alisa Zakirova
  • Nikolay Minko
  • Tom Levinson
  • Yuri Popov

Debt Markets Today - March 21, 2018

CIS EUROBOND MARKET
Russian sovereign Eurobond quotes remained under pressure yesterday. The Russia 42 and 43 both sank 0.4 pp, though the Russia 47 managed to close virtually flat. The only issue to make gains was the Russia 29, which rose 0.2 pp to 98.1% (YTM 4.6%, Z-spread 167 bps).

GOVERNMENT DEBT
Demand emerged from both local and foreign investors, which buoyed quotes and sent yields lower along the entire OFZ curve. Volumes were slightly above average.


STORIES
> CBR Preview: CBR set to cut another 25 bps
> Ruble set to firm versus EM peers during tax period
> Rosneft publishes 4Q17 and 2017 IFRS results
> NC KMG publishes 4Q17 and 2017 results
Underlyings
Rosneft Oil Co.

OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.

Rosneft Oil Co. Sponsored GDR RegS

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
Alex Fak

Alexander Kudrin

Alexey Bulgakov

Alisa Zakirova

Nikolay Minko

Tom Levinson

Yuri Popov

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