VimpelKom 001P-02
16.10%
yield to maturity
fair-34 bp
Price
90.47%
915 ₽ with accrued interest
Coupon
9.30%
4×/yr
Maturity
14.09.2028
term 1.9 y
Duration
1.7 y
price −1.5% per +1 pp of rate
Premium over OFZ
+143 bp
over OFZ 14.67% at 1.72 yr
Credit risk
AA(RU)
ACRA · low
Price and premium over OFZhow the bond has traded and how much it pays over OFZ
Bond price, % of par
Incomewhat your investment will earn and when payments arrive
Yield calculator
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If rates change: duration, convexity, stress
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Stress on the rate
bp yield
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Effective YTM under the MOEX convention (ACT/365). The fair price discounts the cash flows at the yield of a comparable credit class (a reference point).
Expected income and buffer · for the year
Over the key rate+210 bp
Roll-down (year)+0.61%
Expected income+16.71%
Safety buffer+1127 bp
Cash flows
| Date | Coupon, ₽ | Principal, ₽ | Total, ₽ |
|---|
Coupon payments and principal repayment by date for one bond. On the chart, coupons use the left axis and face value the right one.
Issuer credit qualitycredit risk and the issuer's debt on the exchange
Credit risk
Low
issuer rating AA · ACRA
Default probability
≈ 0.04%
per year, by issuer rating
Issuer debt on the exchange
97.22 bn ₽
12 issues
Due within a year
17%
of exchange debt, maturities and puts
Cost of debt
9.34%
market 14.85%
Issuer debt maturities by year
202716.4 bn
202844.1 bn
202936.8 bn
All of the issuer's bonds are in the section “Issuer curve”.
Risk-adjusted yield
16.07%
without the adjustment — 16.10%: expected default losses reduce the yield by 3 bp (1 bp = 0.01 pp)
The probability of default is 0.04% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.
What the spread over OFZ is made of
Expected loss 3 bp
Exit cost 1 bp
Risk premium 139 bp
FairValue score
Attractiveness score36/100
How the score is built
Cheap vs norm
52
weight 15%
Cheap vs group
20
weight 15%
Safety buffer
34
weight 25%
Liquidity
10
weight 25%
Credit quality
70
weight 20%
Peersthe issuer's other bonds and similar bonds of other issuers
Issuer curve
7 issues.
This bond is
cheaper than its own curve (yield higher by 57 bp: an issue premium)
duration, years →
● this bond · yield, % ↑
Similar issues
Other issuers' bonds with a fixed coupon, close in maturity and rating
NovaBev Group 003P-02
matures 01.2029 · AA-
16.22%
HC Novotrans 002P-01
matures 10.2028 · AA-
17.14%
SovcmL P17
matures 12.2028 · AA-
16.58%
Freight One 003P-01
matures 09.2028 · AA
16.75%
Rosselkhozbank BO-08-002P
matures 08.2028 · AA
13.97%
Gazprombank BO 001P-17P
matures 07.2030 · AA+
15.91%
History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
16.1%
the rate is fixed for 1.9 y
Deposit
13.1%
top-10 banks, decade 2 of October 2026
Liquidity fund
13.6%
floats with the CBR key rate
The yield is 3.1 pp above the deposit rate. The bond's rate is fixed until maturity: if the Bank of Russia cuts the key rate, rates on new deposits and the liquidity fund yield will fall, while the bond's income will stay the same.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax — see the “After-tax yield” row in the bond parameters (≈ 13.9%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.
Issue parametersterms, buying now, yields and spreads
Terms
Coupon9.30% a year · 4 payments/yr
Coupon, ₽23.19
Par1 000 ₽
Maturity14.09.2028 · 1.9 y
Issue
Listing level2
Issue size14.67 bn ₽
Lot1 units
Buying now
Order book90.47 / 90.50%spread 0.03% (≈2 bp of yield)
Cost of entry≈ 17 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽10.44 as of 28.10.2026
Average daily turnover87.8 k ₽
Trades today44 · turnover 775.0 k ₽
Yields
Current yield10.28%
Simple yield15.70%
After-tax yield13.89% / 13.55% at 15%
Spreads and valuation
Z-spread over OFZ+136 bp
Spread over swaps (I)+170 bp
Z-spread over swaps+169 bp
Peer assessmentFair -34 bp
MOEX ISS data. Not an individual investment recommendation. Yields, spreads and the fair price are calculated from the exchange quote and are for reference: a real trade goes through at the order book price and depends on the issue's liquidity. The calculations exclude broker and exchange fees; tax is shown on a separate line and simplified (no accrued interest at purchase).