Russia 110224 Basic Political Developments
Business, Energy or Environmental regulations or discussions
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Business, Energy or Environmental regulations or discussionsLukoil, Gazprom, Polyus Gold, Mail.Ru: Russia Equity Previewhttp://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ajIn_IwPf91A By Scott Rose Feb. 24 (Bloomberg) -- The following companies may be active in Russian trading. Stock symbols are in parentheses and share prices are from the previous close. Russian markets were closed yesterday for a national holiday. The 30-stock Micex Index fell 0.7 percent to 1,700.98 on Feb. 22. The Russian Depositary Index, which tracks a weighted basket of 15 global depositary receipts traded in London, advanced 0.5 percent yesterday. OAO Lukoil (LKOH RX): Russia’s second-largest oil producer advanced 1.4 percent in London, as generic futures for Brent crude were 5.3 percent higher at $111.35 a barrel. OAO Gazprom (GAZP RX): Chief Executive Officer Alexei Miller discussed joint energy projects between Russia and France with President Nicolas Sarkozy in Paris, Gazprom said yesterday in an e-mailed statement. Gazprom’s depositary receipts rose 2.1 percent to $27.55 in London. OAO Polyus Gold (PLZL RX): Polyus, Russia’s largest gold producer, may report full-year earnings for 2010 today. The company’s depositary receipts advanced 3.7 percent to $32.16 in London. Mail.Ru Group Ltd (MAIL LI): The Russian investment holding company with a stake in Facebook Inc. will have a sales and revenue call today at 8 p.m. Moscow time. Mail.Ru’s London- traded shares slid 2.1 percent to $35.25. To contact the reporter on this story: Scott Rose in London at rrose10@bloomberg.net. To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net. Last Updated: February 23, 2011 22:00 EST Mideast Unrest Cuts Need for Ruble Bonds on Oil: Russia Credit http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzIgou3i090 Russia is scaling back bond sales by 29 percent as political unrest in the Middle East lifts oil to $100 a barrel in New York, boosting revenue and reducing borrowing needs for the world’s biggest energy exporter.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzIgou3i090 The board of ZAO Alrosa has approved the transformation of the world’s second-biggest diamond mining company into a public entity and a potential stock offering.
http://www.bne.eu/dispatch_text14285 VTB Capital
News: Alrosa's Board has approved a mid-term strategic development plan through 2018. On a separate note, Vedomosti yesterday cited Alrosa's presentation that the company plans to increase rough diamond reserves to 1.48bn carats by 2018 from the current 1.08bn carats. This is the first time Alrosa's reserves have been discussed in volume terms. Our view: The Board outlined its key mid-term strategic priorities as the following: (i) strengthening of Alrosa's leading position in the global rough diamond market; (ii) securing reserve replacement ratio above 100% and (iii) increasing the company's capitalization. The company plans to complete construction of underground facilities at its Mir, Aikhal and Udachniy open-pit mines, increase scale of geological exploration works, update and upgrade its equipment, finalise the set up of a global marketing and sales network, and ensure that a high portion of its sales are performed under long-term contracts. Alrosa estimates that its rough diamond production will reach 39.6mn carats by 2018 (+20.7% above 2009 and about 16.8% above its 2010 output, according to Vedomosti). In order to achieve the abovementioned targets, ALROSA looks to invest RUB 215.3bn (USD 7.3bn at USD/RUB 29.5 exchange rate) in 2009-2018. Out of this amount, Alrosa has already funded RUB 21bn (10% of 10-year capex plan) in 2009-9mo10, which leaves an average of RUB 24bn in annual investments through 2018. We expect Alrosa to use external as well as its own sources to finance the ambitious capex, including proceeds from a much-talked-about IPO. Earlier, Alrosa guided 2011 revenue at USD 3.5bn (+3.2% on 2010F) and volumes of rough diamonds at 34.4mn carats. In addition, their credit portfolio was seen as declining to RUB 83bn by the end of 2011, implying a repayment of RUB 15.6bn through the year. In our view, the release of the mid-term strategy is positive perception-wise, but so far it has little credit implications. The precise investment numbers are still subject to fine-tuning when the company decides on the timing and sources of funding of its iron ore project (TIMIR). We are neutral on both the rouble paper (YTM 7.55-8.45% %, +200bp to swaps) and Eurobonds ( YTM 5.0-6.9%, +320-340bp to swaps).
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzIgou3i090 Nomos Bank, the Russian lender controlled by billionaire Alexander Nesis, may seek to raise $600 million in an initial public offering in London and Moscow in April, Vedomosti reported.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzIgou3i090 Moscow Mayor Sergei Sobyanin plans to close almost all of the city’s outdoor markets, which account for about 20 percent of retail sales in the Russian capital, Kommersant reported.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=afzIgou3i090 Nemiroff, a Ukrainian vodka maker, ended sale talks with billionaire Roustam Tariko’s Russian Standard, Kommersant reported, citing people familiar with the matter.
http://www.rbcnews.com/free/20110224105811.shtml RBC, 24.02.2011, Moscow 10:58:11.Russia's United Aircraft Corporation (UAC) will sell bonds worth RUB 13.7bn (approx. USD 468m) to Vnesheconombank (VEB) to repay its debt using the proceeds from the bond offering, VEB CEO Vladimir Dmitriyev told reporters. "A decision has been made that creditor-banks will buy UAC's bonds and the proceeds will be used to repay the corporation's debt. In other words, the debt will be replaced by bonds," Dmitriyev said. The coupon rate for the bonds will amount to 8 percent, he added. Yüklə 120 Kb. Dostları ilə paylaş:
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