Emerging markets calendar: ETB marketing 10-year local-currency notes

ON THE HORIZON

AGILE PROPERTY HOLDINGS LTD.: Up to $400 million senior notes (Ba3/BB) in fixed- and floating-rate tranches; HSBC; Rule 144A/Regulation S; to finance new and existing projects; Hong Kong-based property developer; roadshow, started Nov. 5 to include Asia, Europe and United States; pricing originally expected early Nov. 12 week.

BANK MANDIRI: $300 million three-year bonds; originally expected in October or November; Jakarta, Indonesia-based commercial and retail bank.

BMCE: Euro-dominated 10-year fixed-rate bonds; non-callable for five years; Casablanca, Morocco-based commercial and investment bank.

CORPORACION ANDINA DE FOMENTO: Three-year samurai bonds; Nomura Group; Caracas, Venezuela-based development bank; initial guidance yen Libor plus 30 to 37 bps.

EGYPT: Egyptian pound-denominated eurobonds (Ba1/BB+/BB+); HSBC, Merrill Lynch (joint books); pricing expected in 2008.

INDUSTRIAL BANK OF KOREA: ¥50 billion senior unsecured bonds (Aa3/A/) in two-year and five-year tranches; JP Morgan, Mizuho Securities, UBS (joint books); Seoul-based commercial and retail bank.

JEBEL ALI FREE ZONE FZE: $1.5 billion to $2 billion conventional dollar bonds and dirham-denominated floating five-year sukuk (A1/A+); Barclays, Deutsche Bank, Dubai Islamic Bank, Lehman Brothers (joint books); Dubai-based trade zone authority; roadshow from Nov. 11 to Nov. 16.

KOOKMIN BANK: Up to $300 million five-year bonds (Aa3/A/); Barclays Capital, Citigroup, Merrill Lynch (joint books); Seoul-based commercial and retail lender.

LITHUANIA: Benchmark-sized euro-dominated bonds (//A); Societe General, UBS (joint books).

METRO COUNTRY CLUB: $110 million private placement deal in two tranches; $75 million six-year senior secured tranche (//B-) and a $35 million seven-year subordinated payment-in-kind tranche; Stephens; Juan Dolio, Dominican Republic-based real estate developer; initial guidance at 12% for senior secured tranche, 13½% for subordinated tranche.

NET SERVICOS DE COMUNICACAO SA: $200 million 10-year offering of bonds, Sao Paulo-based cable television operator.

QUEZON POWER LTD.: $100 million subordinated notes; Manila, Philippines-based energy provider.

ROMANIA: €500 million 10-year eurobond; Credit Suisse, UBS, Eurobank EFG (joint books); planned in the first half of 2008.

UNITED TEST & ASSEMBLY CENTER LTD. (UTAC): $475 million senior notes due 2015: $275 million senior cash-pay notes and $200 million senior PIK notes; JP Morgan, Merrill Lynch, ABN Amro; non-callable for four years; to finance LBO; Singapore-based semiconductor testing and assembly company.

LOCAL CURRENCY

EMPRESA DE TELECOM DE BOGOTA: 10-year local-currency bond (Ba1//BBB-); Deutsche Bank, Merrill Lynch (joint books); Bogota, Colombia-based telecommunications provider; roadshow in New York Jan. 14, in Boston Jan. 15, in London Jan. 16.

JSC FEDERAL GRID CO.: Benchmark-sized five-year ruble-denominated notes (Baa1/BB+); Barclays; Regulation S; Moscow-based long-haul energy supplier; roadshow Nov. 8 in the Netherlands, Nov. 9 in Germany, Nov. 10 in London.

SISTEMA JSFC: 6 billion ruble bond; VTB Bank, Rosbank (joint books); proceeds for refinancing, future investments; Moscow-based conglomerate with holdings in telecommunications and technology.

ROADSHOWS

Jan. 14 to Jan. 16: EMPRESA DE TELECOM DE BOGOTA: 10-year local-currency bond (Ba1//BBB-); Deutsche Bank, Merrill Lynch (joint books)

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