Raven Russia P Discussion Threads

[hpcg] 05/4/2018 10:34

Russia is a bully fascist state which has to be stood up to. It would help the Putin fanbois if it had been some random attack, because let's be honest it seems quite remote that a bunch of sheep herders from the Caucuses would be able to track down a former British agent.

Given Putin's reappointment is now over things might well quieten down, the attempted murder was clearly a play to the home crowd. I imagine RUSP will be OK, but for me the paltry return is still not worth the edge risk.

[renewed1] 05/4/2018 09:57

So they didnt kill the other agent either then even though the Moscow plane was contaminated!!!!!

[m4rtinu] 05/4/2018 09:19

I still think it is highly likely that Russia was in some way responsible. However, if it did transpire that HMG jumped the gun on pointing the finger at Russia it would be a huge embarrassment. What would they do next: resign en masse or pretend that it was still Russia. Johnson is always lazy with the detail and I wouldn't trust him to build a water-tight case.

For the record I hold RUS.

[my retirement fund] 04/4/2018 23:59

Iran can make the stuff as well as a dozen or so other countries. Not sure why I don't have browntrousers 24/7 but guess I have more important things to worry about in my life.

[my retirement fund] 04/4/2018 17:43

HMG has considerable form in falsely accusing other nation states of harbouring or using WMDs and this looks to be another one of its false allegations. I would imagine the damage will be limited to political areas rather than economic. Never the less I agree it certainly takes another worry away from Raven holders.

[spittingbarrel] 04/4/2018 15:21

"Britain's Foreign Office deleted a tweet accusing Russia of poisoning Sergei Skripal after accidentally overstating its case"



So the UK isn't so sure it was Moscow behind the attack, that must be good for RUSP.

[kenny] 23/3/2018 18:26

Russia cuts main interest rate, aims to complete easing cycle by end of 2018
March 23, 2018

* Central bank cuts benchmark rate by 25 bps to 7.25%
* Says plans to complete easing cycle with more cuts this year
* Says trade protectionism has had little impact on Russia so far

[pogue] 23/3/2018 14:47

Threat is always there that someone will come up with a cunning plan to shaft PIs they are coming once every couple of years roughly but that means you have time to buy low sell high and get some divis too if you time it right. Looking good on a load of AV.As I accumulated around the £1.30 mark should have bought lower but did not expect such a capitulation. I had assumed the board had some common sense therefore knew what would happen it became painfully obvious they didn't as days went by though hence the purchase price but I digress.
Any guesses why RUSP is not shooting back up then?

[hindsight] 23/3/2018 13:10

Edit as if by magic STAC has just slipped back very odd considering the threat is now gone

Not sure it has, where the banks are concerned, having been on the Llyods ECN train. Laugh every time the tv ad comes on

[stemis] 23/3/2018 09:39

I guess the lack of response to the Aviva news (unlike Lloyds Prefs for example) pretty much demonstrates that the fall here was 'Russia' related not 'Aviva' related

[igbertsponk] 23/3/2018 09:34

Flight to safety and other good pref news inching these higher. Russia problems still keeping the rise small though.

[pogue] 23/3/2018 09:31

RUSP not responding like other prefs to the news, very restrained perhaps another reason for the fall here that has not gone away? Political risk anyone?
A few days time it should become more obvious one way or another right now if the fall was only due to the AV attempt to reinterpretate ‘irredeemable’ then this is a screaming buy. I am buying others not here.
Edit as if by magic STAC has just slipped back very odd considering the threat is now gone

[catsick] 23/3/2018 09:18

Full back down on the aviva prefs ! Pretty sure that underlines the fact you cant mess with this class in general!

[holts] 19/3/2018 16:13

where is it safer ? klepto or sanctions .

[andyj] 19/3/2018 12:51

Finally my order has been filled, I'm in.

[hpcg] 19/3/2018 10:02

Kenny - the eurobond issue is a device to allow the repatriation of dirty Russian money, where it will be safer. The quantity from the UK is simply an indication of where a lot of expatriated cash is domiciled.

[montyhedge] 19/3/2018 05:13

Does Woodford still hold these ?

[kenny] 18/3/2018 16:33

Thanks Holts. The FT reports that nearly half of the 2047 bond was bought by UK investors! Extract below:

“Russia sold $4bn in eurobond issuances on Friday in a sign that the Kremlin can still raise cash in western markets despite sanctions and geopolitical tension with the west.

Investors’ order book for the two bonds on offer placed $7.5bn, said Andrei Soloviev, global head of debt capital markets at Russian investment bank VTB Capital, the sole lead manager and bookrunner.

An extra issuance for Russia bonds maturing in 2047 was placed with $2.5bn in volume and a 5.25 per cent yield, taking its total size to $7bn. Nearly half the investors in the 2047 eurobond were from the UK despite the spat this week over the poisoning of a former Russian spy in Salisbury, which saw London expel 23 Russian diplomats.”

[holts] 17/3/2018 08:30

And they got all $7bn away

[kenny] 16/3/2018 02:00

Russia eyes $7bn eurobonds despite international outcry

Russia is preparing to sell $7bn of eurobonds in an apparent show of defiance at
international condemnation of its suspected involvement in last week’s use of a nerve agent to poison a former Russian spy and his daughter.

The finance ministry has issued guidance for an 11-year issue paying interest of about 4.75 per cent, and for an extension of an existing bond maturing in 2047 at a rate of about 5.5 per cent, more than the issue’s original coupon of 5.25 per cent, people who had seen the deal’s 217-page prospectus told the FT.

The issue follows Gazprom, the state-controlled natural gas giant, going to market on Wednesday with an eight-year €750m eurobond yielding 2.5 per cent. In a tweet, the Russian embassy in London said the Gazprom offer had received orders of three times that amount, and added: “Business as usual?”

Timothy Ash, EM strategist at BlueBay Asset Management, said Russia would similarly
want to show that the eurobonds issue was a sign of “business as usual” and be keen to secure as wide a distribution as possible for the bonds to demonstrate that it was still able to tap international markets.

“One way or another the deal will be done, enough people seem to like the Russia story for that,” Mr Ash said. “But the mainstay [among buyers] will be Russian origin investors.”

A person involved in the eurobonds issue who asked not to be named said VTB Capital of Moscow would be the sole book runner. The 11-year issue would aim to raise $3bn, with another $4bn from the reopened 2047 bond. Both issues were expected to be priced on Friday.

Simon Quijano-Evans, EM strategist at Legal & General Investment Management,
suggested there was more than an element of coincidence to this week’s issuances.
“There has been talk of this [eurobond issue] for some time so in that sense it’s not news,” he said. “But if you add in the serious issues of the past week, then there are some question marks about the timing.”

Mr Ash noted that the Gazprom issue had been aggressively priced and had “struggled a bit” in the secondary market, with its price falling by half a percentage point since the issue.

Mr Quijano-Evans noted that Anton Sulianov, Russia’s finance minister, said in January that priority in debt issuance would be given to Russian investors. Russia has one of the lowest levels of public debt among the large emerging markets and its external debt has fallen by about $200bn since 2014 to about $540bn.

Before the poisoning of Sergei Skripal and his daughter, its relations with the west had been thawing somewhat, reflected in the decision by S&P Global Ratings to promote the country to investment grade on February 23.

[holts] 15/3/2018 21:55

Russia going for a 7bn eurobond , gazprom had their bond three times subscribed .