Today we will look at two corporate debt securities as investment ideas for this week: Kinross Gold Corporation and Vnesheconombank
In the segment of foreign editions with higher profit margins pay attention to Eurobonds of Canadian gold miner Kinross Gold Corporation maturing in 2041 g. the Issuer is engaged in the exploration and gold mining all over the world: USA, Brazil, Chile, Mauritania, Ghana and Russia. Proven and probable reserves include 34.4 million ounces of gold, 44.0 million ounces of silver and 1.4 billion pounds of copper. The headquarters is located in Toronto (Canada). The company's branches employ about 7 thousand people. The Issuer's shares are traded on the Toronto stock exchange with a current market capitalization of $ 6.4 billion. USA.
Senior unsecured issue of $ 250 million USA posted in May 2012, the Market for emissions — the world. Six months before maturity, the paper provides for a call option at par (100%). Options for the revision of the coupon is not provided. The minimum lot on paper is 2 thousand dollars. USA. The paper is being serviced by NSD.
Following the improvement in Russia's rating, Fitch upgraded Vnesheconombank's rating from BBB to BBB (which corresponds to the sovereign rating). The Outlook is stable. It is noted that Fitch ratings the Bank at the same level with the sovereign ratings due to the very high readiness of the state to provide it with capital and funding support if necessary. Moody's and S&P agencies still maintain ratings one notch below Fitch. corresponds to the "investment" level.
Joint Managing Director
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