Russia & CIS
Bonds & Loans spoke with Michael Dunning, Regional Head of Analytics Group in EMEA Region for Fitch, about the success of Russia's macro outlook for 2017, the success of banking sector clean-up and the prospects of the rouble.
Bonds & Loans spoke with Richard Segal, Senior Emerging Markets Credit Analyst at Manulife Asset Management to get his take on what's driving the Russian credit market, and which sectors he thinks look most likely to generate deals.
While at the annual Bonds, Loans & Derivatives Russia conference, Bonds & Loans interviewed Andrey Bush, Head of Capital Markets Division at the Russian investment firm IFC Solid, to discuss the key trends investors in Russian debt capital markets need to watch out for, drivers of growth in the Russian economy - and the potential “Black Swans”.
15 Mar 2017
As Belarus’ economic woes intensify, the annual bargaining with Russia over gas price threatens to escalate tensions and potentially undermine the Eastern European country’s economy.
Lack of unity on the US government’s future policy towards Russia, coupled with similar divisions growing in the EU, complicate Russian risk and leave an air of uncertainty hanging over increasingly attractive Russian credit.
The Russian oil giant’s initial announcement of a privatization deal involving Swiss oil giant Glencore and the Qatari Investment Authority was deemed a huge success for CEO Igor Sechin and the Kremlin. But contradictory statements that followed from various participants in the deal and the generally opaque nature of the transaction left behind a lot of loose threads.
Peering two years back in time, the Russian economy today is barely recognisable. As the recession eases and volatility subsides the fortunes of the country’s corporates continue to improve, and the country’s banks look to new avenues to boost profits and keep margins at attractive levels
Ukraine’s largest lender PrivatBank is to be taken over by the government as liquidity woes threaten client savings. Among other things, the move raises questions about implementation of the Basel III bail-in measures embedded in the bank’s securities.
Russian oil producer Gazprom managed to price its €1bn 7-year trade through its secondary curve and secure the lowest coupon on any Russian corporate Eurobond placed in either euros or US dollars to date.
Books on the deal closed within half an hour, with no prior announcements about the sale, its organizer or pricing, with the company only stating the 10-year note carried a 10.1% coupon. While it is generally seen as a “closed market” issuance by investors, the bond sale dispels some of the uncertainty in the markets regarding the planned privatization of Rosneft.
6 Dec 2016
- Urals Traded on SPIMEX as Russia Seeks “Fairer” Price
- As Rosneft Agrees US$16bn Bond Programme, Memories of 2014 Deal Rehashed
- Russian Bonds Remain Resilient on Corruption-Related Events
- Russian Bank Purge Deemed a Success, But the Sector Remains Overcrowded
- Japan remains on the fence regarding investment in Russia
23 Mar 2017
22 Mar 2017
22 Mar 2017
21 Mar 2017
20 Mar 2017