5,000% Russische Föderation DL-Notes 2010(20) Reg.S

[BondWurzel]

Stammdaten

Bezeichnung 5,000% Russische Föderation DL-Notes 2010(20) Reg.S

WKN A1AWTB

ISIN XS0504954347

Kürzel/RIC DEA1AWTB=BE

Reuters-Kategorie Anleihe (börsengehandelt)

Wertpapiergruppe Ausl.Staats-/Komm.-Anl.

Wertpapierart "SV, Anl.,Obl. ö.Pf.d.E."

Segment Freiverkehr

Emittent RUSSIAN FEDERATION/-

Sitz des Emittenten Russland

Emissionsdatum 29.04.2010

Laufzeitende 29.04.2020

Emissionskurs 99,363

Rückzahlungskurs 100,00

Emissionsvolumen 3.500.000.000 USD

Kupon 5,000%

Kuponart fixer Kupon

Zinstermin 29.10.2010

Zinsperiode Halbjährlich

Kl. handelb. Einheit 100.000

Depotwährung US Dollar (USD)

Abrechnungswährung US Dollar (USD)

Letztes Rating Baa1

Rating Agentur Moodys

Rating Datum 30.04.2010

 

Was für die Freunde mit dem grösseren Geldbeutel.

 

Gutes Beispiel wie Länder aus der Krise wieder rauskommen, wenn sie über genügend Rohstoffe verfügen.

 

 

Russland platziert erste Anleihe seit 1998

23. April 2010, 13:17

5,5-Mrd.-Dollar-Bond auf internationalem Kapitalmarkt untergebracht

 

Moskau - Russland hat erstmals seit zwölf Jahren wieder Anleihen in Höhe von 5,5 Mrd. Dollar (4,12 Mrd. Euro) auf dem internationalen Kapitalmarkt platziert. Das Finanzministerium habe in New York entsprechende Eurobonds-Anleihen untergebracht, berichtete die Moskauer Wirtschaftszeitung "Wedomosti" (Freitag).

 

 

Eine Anleihe im Wert von 2 Mrd. Dollar sei mit einer Laufzeit von fünf Jahren und einer Rendite von 3,74 Prozent im Jahr herausgegeben worden. Die zweite Anleihe im Wert von 3,5 Mrd. Dollar laufe zehn Jahre und habe eine Rendite von 5,08 Prozent im Jahr. Russland sei damit günstiger als andere Schwellenländer an Geld gekommen, hieß es.

 

Russland werde im laufenden Jahr keine Anleihen mehr begeben, falls sich die Ölpreise auf dem gegenwärtigen Stand stabilisieren sollten, sagte Finanzminister Alexej

[BondWurzel]

Russia Recovery Pushes 2020 Bonds to Their Best Rally Since April Sale

By Denis Maternovsky and Michael Patterson - Aug 9, 2010

Russian Eurobonds due 2020 are beating five-year debt by the most since they were sold in April as a rebound in oil improves the outlook for economic growth and boosts demand for longer-term notes.

 

The 10-year bonds rose 4.1 percent since they were issued four months ago to 103.39 cents on the dollar, reducing the yield to a record 4.56 percent, according to prices compiled by Bloomberg as of 8:07 p.m. in Moscow. The securities due 2015 gained 0.9 percent to 100.39 cents, sending the yield to 3.53 percent. Russias April sale was the first on overseas markets since its 1998 default.

 

A 20 percent rally in oil, Russias biggest export earner, from its 2010 low in May is helping accelerate Russias expansion and shrink the budget deficit. Gross domestic product grew an annual 5.4 percent in the second quarter, the government said July 27, up from 2.9 percent in the first three months. Prime Minister Vladimir Putin said last month the budget gap may shrink to 3.6 percent of GDP next year, Interfax reported, from 5.9 percent in 2009.

 

Duration is key in a risk-friendly environment and longer duration is advantageous, said Sergey Dergachev, who helps manage about $6 billion of emerging-market debt, including Russian government dollar bonds, at Union Investment in Frankfurt. Russian sovereign bonds at the long end of the curve are still cheap.

 

Yield Spreads

 

The notes due 2020 climbed 0.8 percent today, outpacing a 0.4 percent gain in the bonds maturing in 2015, according to data compiled by Bloomberg.

 

The rally in 10-year debt reduced the extra yield investors demand to hold the notes rather than similar-maturity U.S. Treasuries to below the five-year spread for the first time on Aug. 3, according to JPMorgan Chase & Co. The yield difference on 10-year notes was 185 basis points, or 1.85 percentage points today, compared with 190 for five-year securities, according to data compiled by Bloomberg.

 

Russian assets climbed after the Institute for Supply Managements July gauge of manufacturing in the U.S. topped economists forecasts and a composite index based on a survey of euro-area purchasing managers in manufacturing and service industries rose in June. Forecasts of growing demand from companies including Alcoa Inc., the largest U.S. aluminum producer, added to expectations the global economy will avoid falling back into recession.

 

CDS, Ruble

 

Crude oil rose 0.7 percent to $81.26 a barrel in New York today, up from $68.01 on May 20.

 

The 10-year bonds are rallying after sinking as much as 7.3 percent in April and May, compared with a 6.1 percent drop in five-year notes, on speculation that Europes sovereign debt crisis may spread and jeopardize the global economic expansion.

 

The cost of protecting Russian debt against non-payment for five years using credit-default swaps fell 2 basis points on Aug. 6 to 155, the lowest level in almost three months, according to data provider CMA. The contracts pay the buyer face value in exchange for the underlying securities or the cash equivalent should a government or company fail to adhere to its debt agreements.

 

Credit-default swaps for Russia, rated Baa1 by Moodys Investors Service, its third-lowest investment grade ranking, cost 5 basis points less than contracts for Turkey, which is ranked four levels lower. Turkey swaps cost 40 basis points more than Russia on April 20.

 

Maximize Capital Gains

 

The ruble weakened 0.4 percent to 29.9100 per dollar today. Non-deliverable forwards, or NDFs, which provide a guide to expectations of currency movements and interest rate differentials and allow companies to hedge against currency movements, show the ruble at 30.1225 per dollar in three months.

 

Five-year bonds are more attractive than 10-year debt because the shorter-dated notes offer bigger spreads over U.S. Treasuries, JPMorgan analyst Jonny Goulden wrote in an Aug. 5 research report.

 

The relationship may reverse, Goulden wrote, citing the higher price of Russias 10-year credit default swaps relative to five-year swaps. The 10-year contracts traded at 167 basis points on Aug. 6, 12 basis points above five-year swaps, according to CMA.

 

Demand for longer-dated Russian domestic debt also is increasing. The government sold 23.1 billion rubles ($774 million) of bonds due in August 2016 last week, the longest maturity since 2008, according to Alexander Shcherbakov, deputy head of the Finance Ministrys debt department. The bonds were priced to yield 7.15 percent, Shcherbakov said.

 

Theres higher investment activity on the long end of the curve, said Nikolai Podguzov, a fixed-income analyst at Renaissance Capital in Moscow. Everybody wants duration in order to maximize capital gains.