Emerging markets calendar

OCTOBER 26 WEEK

AGILE PROPERTY: Dollar-denominated senior unsecured notes (Ba3//); Bank of America Merrill Lynch, HSBC; Rule 144A/Regulation S; roadshow started Oct. 28 in Asia, Europe and the United States; Hong Kong-based land developer.

MEXICHEM: $350 million offering of 10-year unsecured notes (Ba1//); Bank of America Merrill Lynch; due 2019; proceeds for general corporate purposes, including capital expenditures and potential acquisitions; price guidance at 8.5% area; pricing expected Wednesday or Thursday; Tlalnepantla, Mexico-based producer of PVC resins, pipes and related products.

REPUBLIC OF CROATIA: Planned dollar-denominated benchmark offering of 10-year notes (expected Baa3/BBB/BBB-); Barclays, Citibank, JP Morgan; Rule 144A/Regulation S; talked at Treasuries plus 350 bps.

AXIS BANK (Baa2/BBB-/): Dollar-denominated benchmark offering; Barclays, HSBC, JP Morgan, Standard Chartered Bank; Regulation S only; roadshow Oct. 26-28 in Singapore, Hong Kong and London; Mumbai, India-based bank.

BANCO DE CREDITO DEL PERU (BCP): Dollar-denominated benchmark offering (/BBB-/BBB); Bank of America Merrill Lynch, JP Morgan; Rule 144A and Regulation S; Peru banking company; roadshow Oct. 26-29 in Zurich, London, Singapore, Hong Kong, Boston, New York, Miami; non-callable for 10 years with step-up in year 10; proceeds to sustain capital ratios.

PT CHANDRA ASRI PETROCHEMICAL: $250 million bond issue; DBS Securities, Deutsche Bank; roadshow the week of Oct. 26; pricing soon after; Jakarta, Indonesia, ethylene and propylene producer.

INVERSIONES CMPC (EMPRESAS CMPC SA, guarantor): $500 million maximum senior unsecured notes due 2019 (Baa2/BBB+/BBB+); BNP Paribas, JP Morgan, Santander; Rule 144A/Regulation S; to fund acquisition of forestry and industrial assets from Aracruz; Chilean pulp and paper manufacturer; launched at Treasuries plus 275 bps on Oct. 29.

OAO LUKOIL (Baa2/BBB-/BBB-) $1.5 billion in two tranches, launched Oct. 29: $900 million of five-year notes to yield 6½%, and $600 million of 10-year notes to yield 7 3/8%; Barclays Capital, ING, Royal Bank of Scotland; Moscow-based oil and energy company.

MEXICHEM SAB DE CV: $350 million senior unsecured notes due 2019 (Ba1//); Bank of America Merrill Lynch; general corporate purposes; Tlalnepantla, Mexico-based producer of PVC resins, pipes and related products; roadshow Oct. 19 week; pricing Oct. 26 week.

NET SERVICOS DE COMUNICACAO: $350 million 10-year bonds; Citigroup, ING Groep NV, Banco Itau; non-callable for five years; proceeds for general business purposes; cable services provider based in Sao Paolo, Brazil.

PLN (Ba2/BB-/): dollar-denominated offering; Barclays, UBS; Rule 144A and Regulation S; roadshow Oct. 23-27 in Singapore, Hong Kong, Los Angeles, London, Boston, New York; Jakarta-based electrical utility.

OCTOBER

BUKIT MAKMUR MANDIRI UTAMA (BUMA): $300 million to $350 million offering of five-year senior unsecured notes (Ba3//BB-); Barclays Capital, Deutsche Bank, ING; Rule 144A/Regulation S; non-callable for three years; change of control put at 101% if Delta Dunia ceases to own 100% of BUMA; proceeds for debt refinancing, an intercompany loan and working capital; price talk at 11.75% to 12% area; Indonesian coal mining company.

ON THE HORIZON

BANK OF EAST ASIA LTD.: Step-up subordinated notes due 2059 and preference shares; UBS AG and Deutsche Bank AG, Singapore Branch (joint books); Regulation S; hybrid tier 1 capital instruments packaged as a unit of notes and non-cumulative preference shares to be sold by Innovate Holdings Ltd.; notes pay a fixed rate for 10 years, then step up to a floating rate; for general working capital; Hong Kong-based retail and investment bank.

DOMINICAN REPUBLIC: Expected benchmark dollar-denominated sovereign global bonds; Barclays Capital, Citigroup; timing and structure to be determined.

IRAN: €1 billion of global bonds; to help finance development of the South Pars field, its largest natural gas field; expected by December.

ISLAMIC DEVELOPMENT BANK: Bond deal; BNP Paribas, Deutsche Bank, HSBC; Jeddah, Saudi Arabia, financial institution.

ROMANIA: Benchmark-sized euro-denominated bonds; Deutsche Bank, EFG Eurobank, HSBC; expected 2009 business.

SLOVENIA: Euro-denominated benchmark-sized bond (Aa2/AA/AA); HSBC, RBS, Societe Generale, UniCredit Banka Slovenija (joint books).

LOCAL CURRENCY

PT SALIM IVOMAS PRATAMA: Rp 1 trillion of five-year fixed-rate bonds; PT Danareksa, PT CIMB Securities Indonesia, PT Kim Eng Securities, PT Mandiri Sekuritas and PT OSK Nusadana Securities Indonesia are bookrunners; South Jakarta, Indonesia-based agribusiness group.

JSC POLYMETAL: 5 billion rubles of three-year bonds; Saint Petersburg, Russia-based mining company.

REGIONAL CONTAINER LINES PCL: 5 billion baht five-year unsecured unsubordinated debentures; Bangkok-based shipping company.

OAO SEVERSTAL: RUB 45 billion five-tranche bond program; two tranches of RUB 5 billion, two tranches of RUB 10 billion and one of RUB 15 billion; maximum tenor of each tranche is three years; expects to place first tranche in September; to refinance debt and for general corporate purposes; Citi and Raiffeisen are joint lead arrangers; Cherepovets, Russia-based steel producer.

ROADSHOWS

Week of Oct. 26: PLN: Dollar-denominated notes; Barclays, UBS

Week of Oct. 26: BUMA: $350 million issue; Barclays, Deutsche Bank, ING, Macquerie Securities

Week of Oct. 26: PT CHANDRA ASRI PETROCHEMICAL: $250 million bond issue; DBS Securities, Deutsche Bank

Oct. 26-28: AXIS BANK: Benchmark dollar-denominated offering; Barclays, HSBC, JP Morgan, Standard Chartered Bank

Started Oct. 28: AGILE PROPERTY: Benchmark dollar-denominated offering; Bank of America Merrill Lynch, HSBC

Oct. 26-29: BANCO DE CREDITO DEL PERU: dollar-denominated benchmark offering; Bank of America, Merrill Lynch, JP Morgan

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.