Tomsk Region 35078
16.22%
yield to maturity
Price
99.24%
1 009 ₽ with accrued interest
Coupon
15.10%
4×/yr
Maturity
06.10.2032
term 5.9 y
Duration
3.6 y
price −3.0% per +1 pp of rate
Premium over OFZ
+55 bp
over OFZ 15.67% at 3.59 yr
Credit risk
BBB+(RU)
ACRA · moderate
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+222 bp
Roll-down (year)+0.59%
Expected income+16.81%
Safety buffer+544 bp
Cash flows
| Date | Coupon, ₽ | Principal, ₽ | Total, ₽ |
|---|
Coupon payments and principal repayment by date for one bond. On the chart, each bar is a year's total: the coupon is paid 4 times a year, and the bar adds up all of that year's payments.
Issuer credit qualitycredit risk and the issuer's debt on the exchange
Credit risk
Moderate
issuer rating BBB+ · ACRA
Default probability
≈ 0.35%
per year, by issuer rating
Issuer debt on the exchange
50 bn ₽
8 issues
Due within a year
8%
of exchange debt, maturities and puts
Cost of debt
16.52%
market 16.43%
Issuer debt maturities by year
20279.0 bn
202813.0 bn
2029—
203018.0 bn
2031—
203210.0 bn
All of the issuer's bonds are in the section “Issuer curve”.
Risk-adjusted yield
15.93%
without the adjustment — 16.22%: expected default losses reduce the yield by 29 bp (1 bp = 0.01 pp)
The probability of default is 0.35% 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 29 bp
Exit cost 0 bp
Risk premium 26 bp
FairValue score
Attractiveness score29/100
How the score is built
Cheap vs norm
17
weight 15%
Cheap vs group
no signal
—
weight 15%
Safety buffer
9
weight 25%
Liquidity
45
weight 25%
Credit quality
29
weight 20%
Peersthe issuer's other bonds and similar bonds of other issuers
Issuer curve
6 issues.
This bond is
richer than its own curve (yield lower by 94 bp)
duration, years →
● this bond · yield, % ↑
Tomsk Region 340720.7 y15.93%
Tomsk Region 340741.2 y16.65%
Tomsk Region 340751.5 y16.72%
Tomsk Region 340792.5 y16.83%
Tomsk Region 340762.7 y16.74%
Tomsk Region 350783.6 y16.22%
History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
16.2%
the rate is fixed for 5.9 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 3.2 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, 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 (≈ 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
Coupon15.10% a year · 4 payments/yr
Coupon, ₽37.23
Par1 000 ₽
Maturity06.10.2032 · 5.9 y
Issue
Listing level1
Issue size5 bn ₽
Lot1 units
Buying now
Order book99.24 / 99.25%spread 0.01% (≈0.3 bp of yield)
Cost of entry≈ 5 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽16.54 as of 28.10.2026
Average daily turnover1.9 mn ₽
Trades today47 · turnover 375.2 k ₽
Yields
Current yield15.22%
Simple yield13.15%
After-tax yield13.95% / 13.60% at 15%
- with the long-term holding relief (3+ years)13.96%
Spreads and valuation
Z-spread over OFZ+40 bp
Spread over swaps (I)+143 bp
Z-spread over swaps+125 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).