XS0088543193 USD 12,75 RUSSIAN FEDERATION 98-2028 //unser RF28 wird delistet!!!

 

19 October 2022, COB On 20 October 2022 (12:01 a.m. eastern daylight time) OFAC General License 45 will expire (https://home.treasury.gov/system/files/126/russia_gl45.pdf). Due to the expiry of the license following securities will be removed from Clearstream settlement as of 19 October end of business: Common Code ISIN code Security name 11428878 XS0114288789 USD 7,50 RUSSIAN FEDERATION (REGS) 00-2030 97172145 XS0971721450 USD 4,875 RUSSIAN FEDERATION (REGS) 13-2023 8854319 XS0088543193 USD 12,75 RUSSIAN FEDERATION 98-2028 76747385 XS0767473852 USD 5,625 MIN FIN RUSSIAN (REGS) 12-2042 97172196 XS0971721963 USD 5,875 RUSSIAN FEDERATION (REGS) 13-2043     OFZs and Russian Depositary Receipts 28 October 2022 On 27 September 2022 Russian Duma approved in the second reading amendments to the Federal Law No.319-FZ extending original deadline for the process of the “forced transfer” of OFZs and Russian depositary receipts by 1 month. As a consequence, the last day of trading for these instruments has also been extended until 28 October 2022 to allow sufficient time for settlement and documentation to be processed.  This law No.319-FZ came into effect on 14 July 2022 and sets the process for “de-facto” only local investors to transfer domestic Russian securities from a foreign depository to a Russian depositary. One of the specific applications of this law is related to forced conversion of the Russian depositary receipts, however it has much broader scope which also encompasses majority of Russian local securities (including domestic government bonds, or OFZs, local RU shares, etc).  Indicative Prices  DRs ISIN Issuer $/unit US6698881090 NOVATEK 14 US55315J1025 MMC NORILSK NICKEL 1.9 US8688612048 SURGUTNEFTEGAS 0.25 US8688611057 SURGUTNEFTEGAS 0.3 US73181P1021 POLYUS 4 US3682872078 GAZPROM 0.55 US6074091090 Mobile Telesystems 0.6 US7821834048 RUSHYDRO 0.09 US67812M1080 Rosneft 0.4 US55953Q1031 Magnit 1.4 US69343P1057 Lukoil 4.5 US29355E1091 En+ Group 0.4 US29355E2081 En+ Group 0.4 US71922G1004 PhosAgro 2.4 US71922G3083 PhosAgro 2.4 US8766292051 Tatneft 2.55 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Fixed Income Gazprom Last week Citi has resigned from its duties for 10 programs of Gazprom's Eurobonds issued by Gaz Finance Plc. These are dollar Eurobonds with maturity in 2027, 2029, 2030, 2031, issues in euros with maturity in 2025, 2027 and 2028, an issue in Swiss francs with a maturity in 2027, as well as issues of perpetual Eurobonds of the company, denominated in dollars and euros. Citibank, N. A., London Branch and Citigroup Global Markets Europe AG have notified the issuer of the termination of the trustee, principal paying agent, transfer agent, registrar and bank maintaining the issuer's current account. According to the statement from Gazprom, the company intends to appoint new agent for all these functions for each series of Eurobonds when possible.  Meanwhile, Gazprom Capital started program to place local bonds to substitute the issue of dollar Eurobonds with maturity in 2034, the rights to which are accounted for by Russian depositories. The process will take place between 11 October and 24 October 2022. ISIN Security Bid Ask XS2408033210 GAZPRU 1.85  28   44 50 XS2301292400 GAZPRU 1½   27   45 50 XS1911645049 GAZPRU 2.949 24   50 55 XS2157526315 GAZPRU 2.95  25   45 50 XS2291819980 GAZPRU 2.95  29   48 51 XS1721463500 GAZPRU 2¼   24   50 55 XS1795409082 GAZPRU 2½   26   45 50 XS2196334671 GAZPRU 3     27   48 51 XS2243636219 GAZPRU 3.897 PERP 30 35 XS2124187571 GAZPRU 3¼   30   46 49 XS2363250833 GAZPRU 3½   31   48 51 XS1521039054 GAZPRU 3⅛   23   52 57 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Lukoil Lukoil received the consent of the holders of all issues of dollar Eurobonds of the company to change the payment mechanism, which, in particular, implies the possibility of making direct payments to certain categories of investors and the use of alternative currencies. The amendments assume that Lukoil will have to make payments on Eurobonds through the main payment agent, as provided for in the initial documentation of the issues, but the company will be able to make payments on Eurobonds directly, as well as through clearing systems or other financial intermediaries to certain categories of holders who will be able to receive payments in an alternative currency at the choice of the issuer based on the exchange rate in the payer's jurisdiction. Earlier, Lukoil reported that the proposals were approved by the holders of the issue with a maturity in 2030, voting on 4 other issues was postponed to October 13 due to the lack of a quorum.  Call desk for prices.   Ozon Ozon has postponed the meeting of bondholders to October 31 to approve the restructuring of the issue of convertible bonds for $750m with a maturity in 2026. Initially, the meeting was scheduled for October 17. However, it was moved because of the need to obtain an OFAC license, which will be required to complete the restructuring process. According to the statement Ozon applied for a license on October 6, but the company has not yet received it from the US sanctions authority. In this regard, the deadline for submitting instructions for voting has also been extended until October 28. In parallel, Ozon expects the approval of the restructuring from the UK and Cyprus authorities responsible for sanctions enforcement; receiving responses from these regulators does not affect the date of the meeting. ISIN Security Bid Ask XS2304902443 OZON   1⅞   26   53 58 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Severstal Last week Severstal started consent solicitation for its dollar-denominated Eurobonds with maturity in 2024. Among items targeted by consent solicitation are change of the trustee, alternative payment currency (namely ruble), split payments between onshore and offshore holders. However, unlike Gazprom, Norilsk Nickel, Phosagro or many other companies who recently concluded consent solicitations, Severstal is on the list of sanctioned entities and hence can’t make payments to holders via western clearing systems even if consent goes through. Although the company added to the proposal option for foreign holders to receive direct payments in Russian rubles in the account in Russia it is unlikely that majority of the holders will be able to pursue this option under current sanctions regime.   Sovcomflot On October 11, Sovcomflot began placing local bonds to replace the issue of dollar Eurobonds with maturity in 2028. The maximum nominal volume of the replacement issue will be $430m, which corresponds to the total nominal value of outstanding Eurobonds-28 issued by SCF Capital DAC and guaranteed by Sovcomflot. The maturity date of Eurobonds is 26 April 2028 and the coupon rate is 3.85%. Payments for the replacement bonds will be made in Russian rubles at the official exchange rate established by the Bank of Russia. The expected end date of the placement is October 24. In April, Sovcomflot announced that due to UK and EU sanctions, it would not be able to transfer the coupon for the issue of Eurobonds with maturity in 2028 on time, then in June the coupon on Eurobonds with maturity in 2023 was not paid as well. ISIN Security Bid Ask XS2325559396 SCFRU  3.85  28   14 18 XS1433454243 SCFRU  5⅜   23   17 20 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Other Indicative Prices  ISIN Security Bid Ask XS0805131439 AKBARS 8     22   29 34 XS2230649225 BOINTE 6     26   31 34 XS2281299763 CRBKMO 3.1   26   15 19 XS2384475930 CRBKMO 3⅞   26   15 19 XS2099763075 CRBKMO 4.7   25   18 23 XS1951067039 CRBKMO 5.15  24   18 21 XS1759801720 CRBKMO 5.55  23   19 23 XS1964558339 CRBKMO 7.121 24   19 23 XS1589106910 CRBKMO 7½   27   12 16 XS2392969395 CRBKMO 7⅝   PERP 12 16 XS1601094755 CRBKMO 8⅞   PERP 10 13 XS1843443273 EVRAZ  5¼   24   44 48 XS1533915721 EVRAZ  5⅜   23   46 50 XS1405775450 GLPRLI 6½   23   12 15 XS1589324075 GMKNRM 4.1   23   55 61 XS1772800204 HCDNDA 5.075 23   10 17 XS2082937967 HYDRRM 6.8   24   16 23 XS2232013263 IMHRUS 5.9   25   8 11 XS2400040973 METINR 3⅜   28   23 27 XS0921331509 MOBTEL 5     23   22 24 XS2346922755 NLMKRU 1.45  26   50 55 XS1577953174 NLMKRU 4     24   54 59 XS1843435337 NLMKRU 4.7   26   52 57 XS1405775617 NLMKRU 4½   23   56 60 XS1405775617 NLMKRU 4½   23   56 61 XS0864383723 NVTKRM 4.422 22   59 63 XS2396900685 PGILLN 3¼   28   44 48 XS1713474325 PGILLN 4.7   24   46 50 XS1533922933 PGILLN 5¼   23   48 51 XS2384719402 PHORRU 2.6   28   49 52 XS2099039542 PHORRU 3.05  25   52 54 XS1752568144 PHORRU 3.949 23   56 59 XS2010026560 PIKCOR 5⅝   26   14 17 XS1711554102 POGLN  8⅛   22   8 13 XS1759468967 RUALRU 4.85  23   28 32 XS1577964965 RUALRU 5.3   23   29 33 CH0522690715 RURAIL 0.84  26   15 19 CH0419041618 RURAIL 0.898 25   17 21 CH0419041634 RURAIL 1.195 28   13 17 CH0379268748 RURAIL 2.1   23   25 27 CH1100259816 RURAIL 3⅛   PERP 4 8 XS1041815116 RURAIL 4.6   23   18 23 XS1574068844 RURAIL 4⅜   24   16 20 XS1502188375 RURAIL 9.2   23   29 33 XS2199713384 SIBUR  2.95  25   37 42 XS2010044621 SIBUR  3.45  24   38 43 XS1693971043 SIBUR  4⅛   23   40 45 XS2384174228 SUEK   3⅜   26   14 18 XS2317279060 TLGRAM 7     26   80 82 XS2116222451 TRUBRU 4.3   27   15 20 XS2252958751 VIP    3⅜   27   48 50 XS2058691663 VIP    4     25   59 61 XS1625994618 VIP    4.95  24   69 72 XS0889401724 VIP    5.95  23   76 79 XS1400710726 VIP    7¼   23   77 80 XS2239639433 VKCOLI 1⅝   25   15 20 * Indicative price for positions with institutional size only. For smaller sizes please call desk  Russian Government Bonds   Issuer   Ticker   Bid   Ask XS0971721963 RUSSIA 5⅞  43 56 62 XS0767473852 RUSSIA 5⅝  42 53 56 RU000A0JXU14 RUSSIA 5¼  47 45 52 RU000A1006S9 RUSSIA 5.1  35 41 45 XS0971721450 RUSSIA 4⅞  23 59 62 RU000A0ZYYN4 RUSSIA 4⅜  29 41 44 RU000A0JWHA4 RUSSIA 4¾  26 46 48 RU000A0JXTS9 RUSSIA 4¼  27 46 48 RU000A0ZZVE6 RUSSIA 2⅞  25 40 46 RU000A1034K8 RUSSIA 2.65 36 39 44 RU000A102CK5 RUSSIA 1⅛  27 38 43 XS0088543193 RUSSIA 12¾ 28 64 69 RU000A102CL3 RUSSIA 1.85 32 42 45 XS0114288789 RUSSIA 7½  30 62 66 RU000A0JWM07 RFLB   7¾  26 25 29 RU000A0JS3W6 RFLB   8.15 27 24 28 RU000A0ZYUB7 RFLB   7¼  34 24 28 RU000A0ZZYW2 RFLB   7.95 26 24 28 RU000A0JXFM1 RFLB   7.7  33 24 28 RU000A100A82 RFLB   7.65 30 24 28 RU000A0JXB41 RFLB   7.4  22 29 32 RU000A0JXQF2 RFLB   7.1  24 27 30 RU000A0JTK38 RFLB   7.05 28 24 28 RU000A0JU4L3 RFLB   7    23 28 31 RU000A0ZYU88 RFLB   6½  24 27 30 RU000A103901 RFLB   6.9  31 24 28 RU000A0ZYUA9 RFLB   6.9  29 24 28 RU000A1014N4 RFLB   6    27 25 29 RU000A101QE0 RFLB   4½  25 27 30 * Indicative price for positions with institutional size only. For smaller sizes please call desk  This message (including any attachments) has been issued by Illiquidx Limited (IlliquidX) (FRN 708666). Illiquidx Limited is authorised and regulated by the Financial Conduct Authority. This message is confidential and is to be used by the intended recipients only. If you have received it by mistake please notify the sender by return e-mail and delete this message from your system. Any unauthorised use or dissemination of this message in whole or in part is strictly prohibited and is being monitored. This material is not a product of investment research. 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