- Alexey Bulgakov
- Alisa Zakirova
- Andrew Keeley
- Andrey Kuznetsov
- Anna Kotelnikova
Debt Markets Today - August 8, 2018
CIS EUROBOND MARKETEM debt remained under pressure. Russian paper faced additional pressure from reports of proposed new US financial restrictions against Russia. In the CIS sovereign space, the Russia 47 was again the worst performer, retreating 0.7 pp to 96.9% (YTM 5.5%, Z-spread 242 bps). The Russia 27 fell 0.3 pp to 96.4% (YTM 4.7%, Z-spread 174 bps).GOVERNMENT DEBTOFZ yields tracked ruble dynamics yesterday. Early in the day, they fell 1-3 bps across the curve as the ruble was strengthening. But as the ruble started to lose ground later on, yields at the long end climbed back to where they had ended a day before, while those at the short end and in the belly remained lower until the close. Trading volumes failed to reach the summer average, coming in at just R10 bln. Prices on floating-coupon OFZs again ended the day flat.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.
Bank VTB PAO is a Russia-based bank engaged in the provision of financial services. The Bank reports five segments: Corporate-Investment banking includes operations with corporate customers that are large business customers and banking financial institutions, as well as operations on the securities market; Mid-Corporate banking covers operations with medium business corporate customers; Retail business includes operations with individuals and small business corporate customers, and offers operations on Internet and mobile Point-of-Sale acquiring, plastic cards, payroll services and financial consulting, among others; Treasury comprises operations to manage liquidity, operations on financial and interbank markets, cash flow management and debit financing operation; as well as Other business includes two business: Construction and development involves operations undertaken by Company in the construction and development industry, and Other activities represent non-banking business.
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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