28.21%
yield to maturity
fair+89 bp
Price
95.53%
962 ₽ with accrued interest
Coupon
21.00%
12×/yr
Maturity
02.02.2029
term 2.3 y
Duration
1.1 y
price −0.9% per +1 pp of rate
Premium over OFZ
+1408 bp
over OFZ 14.13% at 1.12 yr
Credit risk
ruBB+
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).
Expected income and buffer · for the year
Over the key rate+1421 bp
Roll-down (year)+0.14%
Expected income+28.35%
Safety buffer>3000 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 12 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
High
issuer rating BB+ · Expert RA
Default probability
≈ 2%
per year, by issuer rating
Issuer debt on the exchange
1.17 bn ₽
6 issues
Due within a year
31%
of exchange debt, maturities and puts
Cost of debt
21.50%
market 27.80%
Issuer debt maturities by year
202610.0 mn
2027355.8 mn
2028200.0 mn
2029400.0 mn
2030200.0 mn
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
26.42%
without the adjustment — 28.21%: expected default losses reduce the yield by 179 bp (1 bp = 0.01 pp)
The probability of default is 2% 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 179 bp
Exit cost 18 bp
Risk premium 1211 bp
FairValue score
Attractiveness score53/100
How the score is built
Cheap vs norm
78
weight 15%
Cheap vs group
50
weight 15%
Safety buffer
96
weight 25%
Liquidity
29
weight 25%
Credit quality
13
weight 20%
Peersthe issuer's other bonds and similar bonds of other issuers
Issuer curve
3 issues.
This bond is
richer than its own curve (yield lower by 65 bp)
duration, years →
● this bond · yield, % ↑
Similar issues
Other issuers' bonds with a fixed coupon, close in maturity and rating
Patriot Group 001P-01
matures 02.2028 · BB+
32.05%
SibKHP 1P2
matures 01.2028 · BB
35.69%
Tatneftekhim 001-P-02
matures 03.2029 · BB+
19.15%
AUTOASSISTANS 001P-01
matures 03.2029 · BB+
27.20%
ASPACE 001P-03
matures 01.2030 · BB+
22.79%
Ideco BO-01
matures 08.2028 · BB-
24.80%
History and alternativewhat the bond returned in the past and a comparison with a deposit
A bond or a deposit?
This bond
28.2%
the rate is fixed for 2.3 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 15.2 pp above the deposit rate, and that difference is payment for the issuer's credit risk: a deposit is insured by the DIA (up to 1.4m ₽), a liquidity fund invests in short risk-free instruments, and a bond can default. The issue's credit assessment is in the credit risk traffic light above.
A pre-tax comparison. Bond coupons are taxed at 13% personal income tax — see the “After-tax yield” row in the bond parameters (≈ 24.2%). 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
Coupon21.00% a year · 12 payments/yr
Coupon, ₽17.26
Par1 000 ₽
Maturity02.02.2029 · 2.3 y
Issue
Listing level3
Issue size400.0 mn ₽
Lot1 units
Buying now
Order book95.13 / 95.54%spread 0.41% (≈37 bp of yield)
Cost of entry≈ 215 ₽ per 100,000 ₽ · quote 27.10 20:00
Accrued interest, ₽6.90 as of 28.10.2026
Average daily turnover1.0 mn ₽
Trades today116 · turnover 1.0 mn ₽
Yields
Current yield21.98%
Simple yield14.78%
After-tax yield24.22% / 23.61% at 15%
Spreads and valuation
Z-spread over OFZ+1383 bp
Spread over swaps (I)+1383 bp
Z-spread over swaps+1382 bp
Peer assessmentFair +89 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).