Investment and Financial Company METROPOL took part in Cbonds conference in London
On the 15th and 16th of September the second annual conference
II Cbonds Russia & CIS Fixed Income Conference, was hold in
London (UK), which has already become a traditional meeting place
for Russian and Western specialists on the debt instrument market.
Investment and Financial Company METROPOL was the general sponsor
of the event.
180 participants were registered at the conference this year.
Representatives of Russian and international banks, various groups
of institutional investors, issuers from Russia and other CIS
countries, public authorities and market infrastructure, discussed
a wide range of issues, including global macroeconomic situation,
the Eurobond market in Russia and CIS, listened to the presentation
of international investors. Of particular interest was the session
devoted to the Russian bond market: analysts of the leading
companies reported on market developments in 2011, new trends and
prospects for their development.
Pyotr Kadysh, head of the department on analysis of debt
instruments and derivative of Investment and Financial Company
METROPOL, gave a report on the competitive positions of the bonds
of companies of the electricity sector, on working with which
specializes Investment and Financial Company METROPOL. Mr Kadysh
said that analysts of Investment and Financial Company METROPOL
conducted an analysis to see how the financing of large investment
projects in electric power industry will affect the debt burden of
the sector. According to him, the switch of grid companies to the
methodology of tariff formation RAB is a positive factor that
reduces the credit risk, as return on invested capital and return
on investments are guaranteed for the representatives of the
industry. Another major factor for the growth of profitability and
credit risk reduction in the long run is the introduction of a
contracts mechanism for project capacities for the generating
companies. At the same time the lag between investment and the
launch of new generation projects will trigger the growth of credit
risk of a number of generating companies because of the increased
debt burden. The presentations were followed by a discussion - a
representative of the Ministry of Finance of RF Konstantin
Vyshkovsky asked the speaker a number of questions.
Analytic products of Investment and Financial Company METROPOL,
which were presented at the booth of the company, aroused great
interest among the conference participants: a monthly macroeconomic
review, reviews of issuers - companies in the electricity sector. A
new analytical tool developed by the company - calculator of
Metropol's hedging, allowing to determine the optimal number of
futures on federal loan bonds for hedging the bonds portfolio, was
also shown at the booth.
Participation Investment and Financial Company METROPOL in the
Cbonds conference again emphasizes that the company is one of the
most active and ambitious players at the Russian market of debt
instruments. Company experts always know where the market is, which
allows to combine both broad market coverage, and accurate and
clear information in respect of all of its components, and,
consequently, to create high-quality products and services.
The next event of Cbonds, to be attended by Investment and
Financial Company METROPOL, will be the "Russian Bond Congress",
which is Russia's largest conference on debt securities
market. The congress will be held in December 2011 in Saint