Corporate · RU000A107936
RZD BO 001P-29R
RU000A107936
12.16%
yield to maturity
Price
102.89%
1 052 ₽ with accrued interest
Coupon
12.55%
4×/yr
Maturity
15.11.2030
term 4.1 y
Duration
3.2 y
price −2.8% per +1 pp of rate
Daily turnover
35.2 k ₽
30-day average
Credit risk
AAA(RU)
ACRA · low
Price and yieldhow the bond has traded
Bond price, % of par
Incomewhat your investment will earn and when payments arrive
Yield calculator
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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).
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.
A bond or a deposit?
This bond
12.2%
the rate is fixed for 4.1 y
Deposit
13.1%
top-10 banks, decade 2 of October 2026
Liquidity fund
13.6%
floats with the CBR key rate
Right now a deposit and the liquidity fund pay more. But the bond's rate is fixed until maturity, while deposit and fund rates are revised after the key rate.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax, but with 3+ years of holding the gain to par is exempt (long-term holding relief) — see the “After-tax yield” row in the bond parameters (≈ 10.3%). Deposit interest is taxed above a tax-free allowance; a liquidity fund qualifies for the long-term holding relief after 3 years.
Issuer credit qualityrating, financials, debt and default-risk adjustment
Credit risk
Low
issuer rating AAA · default probability ≈ 0.02%/yr
Altman Z″ 1.78 · Grey
issuer balance sheet · RAS 2021 · the data is out of date · not representative for a holding company
Interest coverage1.9×
Liabilities to equity0.5×
Return on sales7.9%
Figures are from the issuer's RAS statements for 2021 - the data is out of date. RAS covers a single legal entity without its subsidiaries. If the issuer is a holding company, the main business is run by subsidiaries, and the group's position is better reflected in consolidated IFRS statements.
Group financials and issuer debt
The issuer's debt outstanding
Circulating1.74 tn ₽of which 56.68 bn ₽ in FX (CHF, CNY)
Issues69 +2 in FX
Due within a year11%
Cost of rouble debt15.05% market 14.97%
2026
2027
2028
2029
2030
2031
2032
2033
in roublesin FX, at the Bank of Russia rate
From 2040 onwards — another 60.2 bn ₽. Issues with a put are assigned to the put date rather than to maturity.
Risk-adjusted yield
12.15%
without the adjustment — 12.16%: expected default losses reduce the yield by 1 bp (1 bp = 0.01 pp)
The probability of default is 0.02% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.
Peerssimilar bonds of other issuers
Similar issues
Other issuers' bonds with a fixed coupon, close in maturity and rating
Sber 001P-SBERD4
matures 02.2030 · AAA
15.74%
Gazprom Neft 003P-15R
matures 04.2030 · AAA
16.57%
Atomenergoprom 001P-09
matures 05.2031 · AAA
16.01%
Rostelecom 003P-01
matures 08.2029 · AAA
15.76%
Rosneft 002P-09
matures 10.2029 · AAA
10.50%
Gazprombank BO 006P-01P
matures 08.2030 · AAA
15.88%
Historywhat the bond returned in the past
Issue parametersterms, buying now, yields and spreads
Terms
Coupon12.55% a year · 4 payments/yr
Coupon, ₽31.29
Par1 000 ₽
Maturity15.11.2030 · 4.1 y
Issue
Listing level3
Issue size45 bn ₽
Lot1 units
Buying now
Order book101.02 / 102.96%spread 1.94% (≈61 bp of yield)
Cost of entry≈ 951 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽23.38 as of 28.10.2026
Trades today10 · turnover 35.0 k ₽
Yields
Current yield12.20%
Simple yield11.25%
After-tax yield10.33% / 10.05% at 15%
- with the long-term holding relief (3+ years)10.33%
Spreads and valuation
Spreadsnot shown
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).