Page 79 - bne IntelliNews Russia Country report May 2017

Utilities company Unipro's board of directors announced its dividend recommendation : RUB0.094/share for 4Q16, and RUB0.017/share for 1Q17 which in total provides an approximately RUB0.11/share next interim dividend. The AGM date is set for 23 June 2017 with a 29 May participation record date. The 4Q16-1Q17 interim dividend is fully in line with expectations, and corresponds with the company's RUB7.0bn payout guidance on the 10 May conference call. The next interim dividend will be paid for 2Q17-3Q17.
DP Eurasia, the Domino’s Pizza restaurants franchise operator in Turkey, Russia, Azerbaijan and Georgia, is aiming to raise about £20mn via the sale of at least a 50% stake via a London Stock Exchange (LSE) initial public offering (IPO), the company announced on June 5. Turkish Private Equity Fund II (TPEF II) and Aslan Sazanga, CEO of DP Eurasia, acquired DP Eurasia in 2010. On May 12, ambitions to make the LSE IPO of Turkey’s Global Ports Holding (GPH) one of the biggest London listings of the year sank when the float priced at the bottom end of the range. The largest international operator of cruise ports raised $230mn from the IPO of a 38.2% stake.
8.4 International ratings
8.5 Fixed income
8.5.1 Fixed income - bond news
RUSSIA - Rating agency
March 2016
June 2016
May 2017
Bond rating: Moodys
Ba1 (N)
Ba1 (N)
Ba1 (N)
Bond rating: Fitch
BBB- (N)
BBB- (N)
BBB- (S)
Bond rating: S&P
BB+ (N)
BB+ (N)
BB+ (P)
VTB Capital, the investment banking branch of Russia’s second-largest state bank VTB, will organise the placement of Russia’s sovereign Eurobonds in 2017, the Russian Finance Ministry said on May 23. The ministry plans $7bn worth of foreign borrowings in 2017, out of which $3bn are net new borrowings and $4bn of refinancing previous issues. “The agent [VTB Capital] is starting to monitor the market and will suggest what to place – one or several issues, or exchange placement,” head of the sovereign debt department of the ministry Konstantin Vishkovsky told Reuters. “Current market momentum is indeed very favourable for EM issuers with more sovereigns using this window of opportunity ahead of June’s Fed meeting,” Raiffeisen Bank International (RBI) commented on May 24, expecting the placement to occur “as soon as next week at the latest, as any later date would be too close to the Fed meeting”. In January, Finance Minister Anton Siluanov said $3bn worth of Eurobonds could be issued in spring 2017 .
Russian natural gas producer and exports monopolist Gazprom is planningaCHF-denominatedbenchmarkEurobondissue,B loombergand Reuters reported on May 30, citing unnamed sources. Deutsche Bank, JPMorgan, VTB and Gazprombank will reportedly organise the issue. If market conditions are unfavourable the placement will be postponed until autumn. The
79 RUSSIA Country Report May 2017 www.intellinews.com