bne_newspaper_April_12_2019

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April 12, 2019 www.intellinews.com
Renewed demand for OFZ treasury bills a barometer of improving sentiment towards Russian assets
Ben Aris in Berlin
Russia’s Ministry of Finance has held yet another successful weekly auction of its ruble- denominated OFZ treasury bills. The ministry planed RUB137bn ($2.2bn) worth of OFZ bonds at a weekly auction of April 10. The ministry sold 10-year OFZ bonds at RUB87bn at 8.34%, and a five-year issue worth RUB50.4bn at 8.13%. The
Russia's Sistema investment major expects good IPOs
of second-tier assets bne IntelliNews
Russian multi-industry holding AFK Sistema expects successful IPOs of its second-tier, but fast-growing assets Steppe agricultural holding and Segezha Group pulp and paper producer, the president of the holding Andrei Dubovskov is cited by Prime as saying.
Sistema wants in on the wave of equity deals that is building up since the beginning of 2019
demand at the auctions was at high RUB192bn, even though the ministry proposed no premium to the secondary market on the yields.
The weekly placement of RUB137bn accounts
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in Russia. While 2018 did not see a single equity offering, the market is slowly coming back to life with a number of deals already announced in 2019, with both market leaders such as Polyus Gold and Cherkizovo, and smaller players such as rail operator RusTransCom planning to raise capital from selling equity.
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