Report
Alexander Golinsky ...
  • Alexey Bulgakov
  • Alisa Zakirova
  • Andrew Keeley
  • Andrey Kuznetsov
  • Kirill Rogachev
  • Nikolay Minko

Debt Markets Today - June 28, 2019

CIS EUROBOND MARKETCIS Eurobonds opened lower but burgeoning global risk appetite precipitated an about-turn. Russian sovereign Eurobonds made modest gains of no more than 0.2 pp. The Russia 47 rose 0.17 pp to 110.2% (YTM 4.6%, Z spread 243 bps). The Russia 29 edged up 0.1 pp to 103.43% (YTM 3.9%, Z-spread 201 bps).GOVERNMENT DEBTYields on most mid-dated OFZs rose yesterday, up 3-4 bps at most, before a turnaround in the market in the evening brought them down to 1-2 bps higher by the close. Volumes were concentrated in the belly. Elsewhere on the curve, yields were flat.STORIES> Nonresident OFZ holdings climb to a record high> Petropavlovsk intends to call remaining 2020 convertible bond> TCS Group completes $300 mln capital raise
Underlying
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 Golinsky

Alexey Bulgakov

Alisa Zakirova

Andrew Keeley

Andrey Kuznetsov

Kirill Rogachev

Nikolay Minko

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