Segezha Group 003P-07R
19.60%
yield to maturity
Price
98.50%
99 CNY with accrued interest
Coupon
13.00%
12×/yr
Maturity
18.02.2027
term 0.3 y
Duration
0.3 y
price −0.3% per +1 pp of rate
Premium over replacement bonds
+1279 bp
OFZ in CNY
Credit risk
ruB
Expert RA · high
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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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, CNY | Principal, CNY | Total, CNY |
|---|
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 qualityrating, financials, debt and default-risk adjustment
Credit risk
High
issuer rating B · default probability ≈ 11%/yr
Altman Z″ -4.37 · Distress
issuer balance sheet · RAS 2025
2.4
21
2.1
22
0.0
23
0.2
24
-4.4
25
From 2021 to 2025 the Z″ fell by 6.79 - the accounts are deteriorating before the rating reflects it
Interest coverage0.0×
Liabilities to equity1.0×
Return on sales24.3%
Figures are from the issuer's RAS statements for 2025. 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.
Conclusion: Balance-sheet metrics (Altman Z″) agree with the credit rating.
Group financials and issuer debt
The issuer's debt outstanding
Circulating98.9 bn ₽of which 14.13 bn ₽ in FX (CNY)
Issues12 +3 in FX
Due within a year79%
Cost of rouble debt18.11% market 35.04%
2026
2027
2028
2029
in roublesin FX, at the Bank of Russia rate
Issues with a put are assigned to the put date rather than to maturity. All of the issuer's bonds are in the section “Issuer curve”.
Risk-adjusted yield
10.23%
without the adjustment — 19.60%: expected default losses reduce the yield by 937 bp (1 bp = 0.01 pp)
The probability of default is 11% a year: the historical average for this rating. In a default, holders recover 30% of face value on average.
What the spread over replacement bonds is made of
Expected loss 937 bp
Exit cost 0 bp
Risk premium 342 bp
Peersthe issuer's other bonds and similar bonds of other issuers
Issuer curve
3 issues · Segezha.
This bond is
richer than its own curve (yield lower by 517 bp)
duration, years →
● this bond · yield, % ↑
Segezha Group 003P-07R0.3 y19.60%
Segezha Group 003P-01R0.5 y21.24%
Segezha Group 003P-09R1.0 y11.76%
Historywhat the bond returned in the past
Issue parametersterms, buying now, yields and spreads
Terms
Coupon13.00% a year · 12 payments/yr
Coupon, CNY1.07
Par100 CNY
Maturity18.02.2027 · 0.3 y
Issue
Listing level3
Issue size650.0 mn CNY
Lot1 units
Buying now
Order book98.50 / 98.50%spread 0.0% (under 0.1 bp of yield)
Cost of entry≈ 0 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, CNY0.2497 as of 28.10.2026
Average daily turnover29.8 mn ₽
Trades today108 · turnover 1.8 mn ₽
Yields
Current yield13.20%
Simple yield18.09%
Spreads and valuation
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).